Seoul shares down

Seoul shares fell on Thursday amid foreign selling and the expiry of options, with losses among refiners and automakers, including S-Oil Corp and Hyundai Motor, pressuring the market. The Korea Composite Stock Price Index ended down 2.03 percent at 2,122.65 points. KOSPI 200 June futures fell 6.85 points to 278.90 and the KOSPI 200 spot index lost 6.28 points to 280.02. The junior Kosdaq market ended down 0.14 percent at 504.46.
"Foreign investors, particularly those based in Europe, may [have been] settling positions as European debt uncertainties persist," said Y.S. Rhoo, a market analyst at Hyundai Securities. Foreign investors were sellers of a net 1 trillion Korean won ($928.9 million) worth of stocks, the biggest net sales in two months.
Crude oil refiners lost ground after sharp gains in the previous session. S-Oil Corp, the country's No 3 crude oil refiner, fell 6.3 percent and SK Innovation declined 4.7 percent. A 0.7 percent fall in the Baltic Dry Index, which tracks the cost of shipping key commodities, weighed on shipbuilders and shipping companies. Hyundai Heavy Industries Co Ltd fell 3.9 percent and Daewoo Shipbuilding & Marine Engineering Co Ltd lost 2 percent.
Shippers STX Pan Ocean Co Ltd and Hyundai Merchant Marine Co Ltd fell 2.6 percent and 3.8 percent, respectively. Automakers also weighed, taking a breather following their sharp gains this year. Hyundai Motor fell 4.7 percent and Kia Motors shed 2 percent, after seeing 43 percent and 50 percent gains, respectively, this year. SK Telecom Co Ltd, the country's top mobile phone operator, edged down 0.9 percent, and Lotte Chilsung, a beverage maker, rose 0.09 percent.