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Seoul: Shares snap 3-day gains to edge lower; won down
[SEOUL] South Korean shares edged down on Friday, but were off their session lows, as weak commodity prices and profit-taking continued to weigh on market sentiment.
The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 1,975.33 points, snapping a three-day winning streak. It fell as much as 1 per cent to 1,958.12 points soon after the market opened. For the week, shares gained 1.4 per cent.
Foreign investors were net sellers for a 13th consecutive session, dumping a net 141.8 billion won (S$169.6 million) worth of KOSPI shares during the streak, preliminary data showed.
The South Korean won ended local trade down 0.3 per cent to 1,183.0 per dollar. On a weekly basis, the won lost 0.3 per cent.