Seoul shares gave up earlier gains and ended flat on Wednesday, taking a breather after recent rallies that lifted the market to a series of fresh record highs, with falls in automakers and refiners weighing. The Korea Composite Stock Price Index finished up 0.02 percent at 2,206.70 points, after hitting a fresh record high of 2,231.47 points earlier in the session.
The KOSPI 200 June futures rose 0.35 points to 293.20 and the KOSPI 200 spot index climbed 0.7 points to 292.08. The junior Kosdaq market ended down 0.63 percent at 518.39. Foreign investors were buyers of a net 684.6 billion Korean won ($632.1 mln) worth of stocks, picking up shares for a sixth consecutive session.
Automakers and refiners lost ground following a prolonged rally this month. Shares in Hyundai Motor fell 4.7 percent and Kia Motors shed 5.8 percent. S-Oil shed 1.6 percent and SK Innovation lost 2.6 percent. Technology issues rose firmly, with Samsung Electronics up 3 percent, helped by a 1.6 percent gain in the US Philadelphia semiconductor index.
Shares in LG Electronics finished up 0.5 percent after the world's No 3 handset maker posted its first profit in three quarters and said it saw better earnings ahead as it halted slipping margins in the competitive mobile phone market. Shares in builders rallied after state media reported South Korea's land minister pledged to unveil measures soon to help boost the slumping construction industry.
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