Seoul: Shares extend losses

[SEOUL] South Korean shares closed lower on Wednesday, as major heavyweight names slid, with investors awaiting the outcome of the Federal Reserve meeting and corporate results from US tech giants. 

The Kospi closed down 17.75 points, or 0.57 per cent, at 3,122.56, after falling 2.1 per cent in the previous session.

"Investors are seen avoiding active buying in shares as they remain cautious amid earnings season ... Apple and Tesla's earning results due Wednesday and Thursday are on focus," said DS Investment & Securities' analyst Na Jeong-hwan.

Foreigners were net sellers of US$563.95 million worth of shares on the main board.

REUTERS

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