Seoul shares ended flat on Wednesday after a narrow trading session, unable to break through stubborn technical resistance with investors taking pause after raking in hefty gains on Tuesday. "Investors seem to be taking a more conservative approach ahead of the extended holiday weekend, and are likely to maintain that until a European Union finance leaders' summit next week paints a clearer picture on the debt situation," said Cho Byung-Hyun, an analyst at Tong Yang Securities.
The Korea Composite Stock Price Index (KOSPI) inched 0.02 percent lower to close at 1,892.39. Foreign investors were buyers for a seventh consecutive session, snapping up a net 481 billion won ($419.89 million)worth of shares, while institutions reversed morning pickups to offload a net 92.9 billion won worth, ending a seven-day purchase streak.
Automakers were among the biggest drags, with Kia Motors Corp dipping 2.91 percent while Hyundai Motor Co fell 2.16 percent. A broad dip in large-cap technology shares also weighed, as Samsung Electronics Co edged 0.58 percent lower and LG Electronics Inc fell 1.49 percent. The KOSPI 200 index ended flat at 247.82 while the junior KOSDAQ index closed 1.23 percent lower at 513.20.
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