Seoul shares slashed earlier gains to edge up 0.3 percent on Wednesday, weighed by falls in technology plays as sectoral earnings worries deepened and with energy price and inflation concerns keeping investors on edge. The Korea Composite Stock Price Index finished up 0.26 percent at 2,001.47 points. The KOSPI 200 March futures index finished up 0.8 points at 264.20. The KOSPI 200 spot index rose 0.47 points to 263.8. The junior Kosdaq market ended down 0.44 percent at 522.70.
Foreign investors were sellers of a net 38.3 billion won ($34.38 million) worth of stocks, offloading shares for a third straight session. Futures buying was heavy as investors sought short-covering in KOSPI 200 futures ahead futures and options expiry on Thursday. Shares in Samsung Electronics fell 1 percent, retreating for a third straight session and hitting a fresh three-month closing low.
Samsung Electronic's 12-month forward price earnings multiple stood at 8.6, compared with its Japanese peer Sony's 19.4, Thomson Reuters Starmine data showed. Shares in Samsung Elec-Mech tumbled 6.1 percent. KEPCO Engineering & Construction rallied 5 percent after the company said it won an order worth 97 billion won from its parent firm KEPCO.
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