Seoul shares retreated from an early advance to close nearly unchanged on Monday, failing to keep up with Asian peers as technicals weighed down on the benchmark index after it briefly touched a fresh six-month intraday high. The Korea Composite Stock Price Index (KOSPI) inched up 0.04 percent to close at 1,973.13 points.
Foreign investors bought a net 176.6 billion won ($157.9 million) worth of shares, but after switching between buying and selling, institutional investors steadily began offloading more shares in late trade to set a 10-day selling streak, dumping 37.9 billion won worth. Banks spearheaded gains, as Hana Financial Group soared 4.18 percent while Woori Finance Holdings climbed 3.38 percent.
Machinery and equipment manufacturers lent support, with Doosan Heavy Industries rising 3.59 percent while Hyundai Elevator gained 2.58 percent. 517.9 million shares exchanged hands on the main bourse while declining shares outnumbered gainers 433 to 400. The KOSPI 200 index edged up 0.15 percent while the junior, tech-heavy KOSDAQ index snapped a four-day winning streak to close 1.05 percent lower.
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