Seoul stocks closed slightly lower on Wednesday, snapping a seven-session winning streak, as worries about the impact of high oil prices and a stronger won wiped out early gains on upbeat US consumer spending data. The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.15 percent to end at 1,117.11.
"Some of the leading stocks like Hynix are losing momentum and that's another sign of an imminent correction, although I don't think it would be deep or lengthy," said Lim Chang-gue, a fund manager at Samsung Investment Trust Management.
Hynix Semiconductor Inc fell 2.64 percent to 24,000 won, while South Korea's second-biggest auto maker, Kia Motors Corp, fell 1.25 percent to 15,800 won.
LG Electronics Inc fell 1.2 percent to 65,700 won on worries private fund Sovereign Asset Management could sell its large stake in the firm after it said on Tuesday it would no longer seek to influence the LG company's management.
Hyundai Motor Co rose 1.13 percent to 71,500 won.
Steel maker POSCO Co Ltd rose 3.61 percent to 215,000 won, tracking gains among US peers and amid optimism global steel prices would recover by the second half.
Trade volume reached 655 million shares worth 4.6 trillion won compared to 565.9 million shares worth 3.3 trillion won on Wednesday. Decliners edged out gainers by 453 to 302 with 59 titles ending flat.
Foreign investors bought a net 18.2 billion won in shares on the main bourse, while retail investors sold a net 20.3 billion won. Institutional investors sold a net 23.6 billion won.
The September KOSPI 200 futures index fell 0.10 point to 144.30 and the underlying KOSPI 200 spot index edged down 0.09 point to 144.21.
South Korea's junior and tech heavy Kosdaq market fell 1.70 percent to finish at 532.55.
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