Seoul shares were little changed on Thursday as investors paused for a breather a day after the main index hit a 38-month closing high, with losses in some large cap issues such as Samsung Electronics Co Ltd weighing. The Korea Composite Stock Price Index finished down 0.03 percent at 2,037.53 points.
"I don't see any significant moves for the stock market in this year-end mood," said Daewoo Securities market analyst Han Chi-hwan. "The KOSPI gained 150 points in December. We could expect an adjustment period unless there is momentum for further gains," said Samsung Securities market analyst Hwang Geum-dan. Institutions were sellers of a net 285.6 billion won for a third straight session. Foreign investors purchased 139.8 billion won worth of stocks. Heavyweight stocks ended mixed.
Samsung Electronics Co Ltd declined 0.3 percent, backing away from its record-high in the previous session. LG Electronics lost 2.2 percent. POSCO inched 0.4 percent higher, bucking its earlier losses. The world's No 3 steelmaker announced after Wednesday's closing bell that it would freeze domestic steel product prices in the first quarter of next year amid stagnant demand.
Hyundai Motor Co climbed 0.55 percent on strong prospects for its quarterly results thanks to solid demand. Shipbuilders rose across the board. Hyundai Heavy Industries Co Ltd gained 0.23 percent, while Daewoo Shipbuilding and Marine Engineering Co Ltd advanced 1.14 percent.
Cable TV system operator Hyundai HCN Co Ltd dropped to 3,600 won, below its IPO price in its trading debut. Korea Exchange Bank (KEB) rose 2.47 percent amid brewing hopes about a high year-end dividend, outperforming the overall banking sector. Hana Financial Group Inc disclosed a revised regulatory filing in early December that it would guarantee an additional 279.7 billion won for seller US fund Lone Star, or 850 won per share. If Lone Star receives less than 850 won per share in its year-end dividends, Hana will pay Lone Star the difference.