Seoul shares fell on Monday as foreign investor selling persisted, with losses led by automakers and refiners including Hyundai Motor and SK Innovation. The Korea Composite Stock Price Index finished down 2.64 percent at 2,055.71 points. KOSPI 200 June futures fell 8 points to 270.50 and the KOSPI 200 spot index lost 7.4 points to 271.19. The junior Kosdaq market ended down 2.74 percent at 472.94.
Foreign investors were sellers of a net 409.3 billion won ($378 million) worth of stocks, offloading shares for an eighth straight session, their longest selling streak in a year. Hyundai Motor and Kia Motors lost 5.4 percent and 4.7 percent respectively after the companies said they had suffered disruptions to production of some SUV models after a strike at a Yoosung Enterprise led to parts shortages. But Yoosung jumped nearly 15 percent amid expectations the labour dispute would be quickly resolved and could even heighten the significance of its products, analysts said.
LG Electronics dropped 5.5 percent. Crude refiners were also the target of heavy profit-taking after substantial recent gains. Shares in S-Oil, the country's No 3 crude oil refiner, and SK Innovation both declined 6 percent. Fila Korea outperformed, ending up 0.13 percent, after the company agreed to buy the Titleist golf equipment brand for $1.2 billion, a deal analysts saw benefiting both sides.
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