SEOUL: Seoul shares slipped on Friday after six straight sessions of gains and pressured by falls in technology issues and banks such as LG Electronics and Shinhan Financial Group .
Analysts said some profit-taking was spotted after a near-10 percent gain during the previous six successive days of gains.
"But I think we are still on a recovery track. The market is taking a breather today, and also being more cautious as they eye continued progress in Europe," said Kwak Joong-bo, a market analyst at Samsung Securities.
The Korea Composite Stock Price Index (KOSPI) was down 0.26 percent at 1,818.39 points as of 0202 GMT.
Foreign investors were sellers of a net 10.8 billion Korean won ($9.3 million) worth of stocks, and pension funds offloaded a net 5.2 billion won, poised to snap six consecutive sessions of buying.
Banking stocks came under pressure as investor appetite towards financials weakened after JPMorgan Chase & Co's quarterly earnings fell 25 percent, dragging US financial stocks lower overnight.
Woori Finance Holdings lost 1.4 percent and Shinhan Financial Group declined 0.6 percent.
Shares sensitive to exchange rates, in refiner and transporters, declined as the won currency turned weak.
Weaker won renders the cost of importing crude oil more costly and also dampens demand for overseas tourism.
Shares in S-Oil , the country's No.3 crude oil refiner, shed 2.2 percent and GS Holdings , the holding company of South Korea's No.2 refiner GS Caltex, lost 3.1 percent.
Shares in Korean Air Line fell 1.5 percent and Asiana Airlines retreated 1.8 percent.
Falls in technology stocks also hurt, as shares in LG Electronics fell 2.9 percent and LG Display shed 1.8 percent.
Meanwhile, auto exporters were buoyed after news a free trade agreement between the United States and South Korea was passed by Congress.
Shares in Hyundai Motor gained 0.7 percent and auto parts manufacturer Hyundai Mobis rose 1.3 percent.
Defensive issues which lagged the market's latest gaining streak drew investor interest again.
Shares in SK Telecom , South Korea's top mobile phone operator, climbed 2.3 percent and KT&G , a tobacco and ginseng manufacturer, surged 2.5 percent.
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