S Korean shares close lower on foreign selling

19:57, July 19, 2010      

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South Korean shares on Monday ended down on foreign selling, local analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 6. 50 points, or 0.37 percent, to close at 1,731.95, according to the bourse operator Korea Exchange (KRX).

The index slid as market sentiment shrank following massive U.S. declines due to weaker-than-expected performance reports by General Electrics and Bank of America and slumping U.S. consumer sentiment data.

On the gloomy reports, foreigners turned to net sellers first in eight sessions, while institutions and retail investors made a net buy move.

The junior bourse KOSDAQ inched down 0.39 point, or 0.08 percent, to close at 498.49.

The derivatives ended lower as well, with the KOSPI 200 Futures market advancing 1.02 points, or 0.45 percent, to 225.32, according to the bourse operator.

Meanwhile, the local currency slightly skid against the U.S. dollar, down 12.10 won to end trading at 1,215.60 won.

Bond prices stayed flat with the yield on three-year Treasury notes fixed at 3.92 percent.

Source: Xinhua


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