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Seoul: Stocks edge down, autos weaken

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[SEOUL] South Korean shares closed weaker on Thursday as foreign investors took profits, notably in the transport equipment sector following a court ruling against Kia Motors in a labour dispute.

The Korea Composite Stock Price Index (Kospi) closed down 0.3 per cent at 2,363.19 points.

Shares of Kia Motors ended down 3.5 per cent while Hyundai Motor and Hyundai Mobis dropped 1.8 per cent and 3.5 per cent, respectively.

The sub-index for transport equipment shares was down 2 per cent.

Offshore investors sold a net 112.6 billion won (S$135.82 million) worth of Kospi shares for the day.

The South Korean won also weakened against a broadly stronger US dollar.

The won was quoted at 1,127.8 to the US dollar at the conclusion of onshore trade, down 0.3 per cent compared to Wednesday's close of 1,124.2.

REUTERS

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