Seoul shares ended flat on Thursday, retreating from the morning's losses, as continuing gains in automakers offset a slip in technology issues. Analysts said jittery sentiment on Europe's fiscal future was not critical enough to reverse the upward trend in the Korean stock market.
The Korea Composite Stock Price Index (KOSPI) ended up 0.02 percent at 2,130.07 points. KOSPI 200 September futures ended down 0.45 points at 278.90 points and the KOSPI 200 spot index fell 0.29 points to 278.03. The junior Kosdaq market ended up 0.45 percent at 497.18.
Foreign investors were sellers of a net 417.7 billion Korean won ($395.2 million) worth of stocks, offloading shares for a third straight session. Individuals bucked foreign and institutional selling, snapping up shares worth 749.7 billion won. The country's biggest automaker Hyundai Motor recovered earlier losses to end 0.2 percent higher. And its affilitate Kia Motors gained 1.4 percent.
Cho said the carmakers' increasing global market share of had cemented investor confidence in their growth. Korea Zinc , one of the world's top zinc refiners, jumped 5.9 percent after metal prices surged on the possibility of more Federal Reserve stimulus. News reports that DRAM prices hit a record low pressured memory chip makers such as sector leaders Samsung Electronics and Hynix Semiconductor, darkening prospects for an earnings recovery. Shares in Hynix extended losses, falling 2.5 percent to the lowest level in more than seven months.