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South Korean stocks closed marginally lower Friday as institutions and foreigners sold off local equities amid no fresh momentum to fuel the market, analysts said. The local currency edged up against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 3.26 points, or 0.17 percent, to finish at 1,880.71.
Trading volume was light at 276.5 million shares worth 3.48 trillion won ($3.12 billion) with losers outpacing gainers 454 to 316.
The main index moved in a tight range, bobbing in and out of negative territory until it finished lower.
"Foreigners' net selling skid, along with light volume in turnover, left investors directionless," said Lee Kyung-min, an analyst at Woori Investment & Securities Co.
The KOSPI reverted to gains at times during the session, on expectations that China's inflation and production data will lift market sentiment, but it wasn't enough to give the index a boost, Lee added.
Overseas investors unloaded a net 47.4 billion won, extending its selling binge for a fourth consecutive session. Institutions dumped a net 2.29 billion won while retail investors snapped up a net 46.3 billion won on the main bourse.
The Friday net selling was largely offset by gains in large tech companies, which minimized the KOSPI's fall.
Top-cap Samsung Electronics snapped a four-day losing streak to soar 1.07 percent to 1,230,000 won on foreign demand. Chipmaker SK hynix shot up 1.72 percent to 26,650 won.
But most other blue-chips finished bearish. Auto heavyweight Hyundai Motor dipped 1.56 percent to 221,500 won, with top mobile carrier SK Telecom sliding 1.85 percent to 212,500 won.
The local currency ended at 1,112.20 won against the greenback, up 0.8 won from Thursday's close, mainly due to a weaker dollar, dealers said. (Yonhap News)
The benchmark Korea Composite Stock Price Index (KOSPI) declined 3.26 points, or 0.17 percent, to finish at 1,880.71.
Trading volume was light at 276.5 million shares worth 3.48 trillion won ($3.12 billion) with losers outpacing gainers 454 to 316.
The main index moved in a tight range, bobbing in and out of negative territory until it finished lower.
"Foreigners' net selling skid, along with light volume in turnover, left investors directionless," said Lee Kyung-min, an analyst at Woori Investment & Securities Co.
The KOSPI reverted to gains at times during the session, on expectations that China's inflation and production data will lift market sentiment, but it wasn't enough to give the index a boost, Lee added.
Overseas investors unloaded a net 47.4 billion won, extending its selling binge for a fourth consecutive session. Institutions dumped a net 2.29 billion won while retail investors snapped up a net 46.3 billion won on the main bourse.
The Friday net selling was largely offset by gains in large tech companies, which minimized the KOSPI's fall.
Top-cap Samsung Electronics snapped a four-day losing streak to soar 1.07 percent to 1,230,000 won on foreign demand. Chipmaker SK hynix shot up 1.72 percent to 26,650 won.
But most other blue-chips finished bearish. Auto heavyweight Hyundai Motor dipped 1.56 percent to 221,500 won, with top mobile carrier SK Telecom sliding 1.85 percent to 212,500 won.
The local currency ended at 1,112.20 won against the greenback, up 0.8 won from Thursday's close, mainly due to a weaker dollar, dealers said. (Yonhap News)
