Seoul shares slipped on Thursday, led by a 7 percent slump in Korea Exchange Bank after Commerzbank sold a partial stake, while exporters fell on worries about valuations amid risks from high oil prices and a strong won currency.
However, the downturn late in the session was capped as shares benefiting from a stronger won such as state-run power provider Korea Electric Power Corp rose.
Flat panel maker LG.Philips LCD Co Ltd surged 4.09 percent to 45,800 won after J.P. Morgan on Thursday raised the stock to "overweight" from "neutral", saying the flat panel maker would benefit from strong growth in the LCD TV market this year.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.28 percent to 1,367.70, after having risen as much as 0.56 percent at one point.
Financial markets were closed on Wednesday for a public holiday.
Exporters erased early gains, with chip maker Hynix Semiconductor Inc falling 3.61 percent to 32,050 won.
Samsung Electronics Co Ltd fell 0.15 percent to 686,000 won.
Among other exporters, Hyundai Motor Co fell 1.2 percent to 82,100 won.
Korea Exchange Bank was the biggest decliner of the day, ending down 7.14 percent at 13,000 won.
Institutional investors who participated in the sale sold the stock to repurchase it at the cheaper price offered by Commerzbank.
Koomin Bank, ending 0.13 percent lower at 74,500 won.
Trade volume reached 350 million shares worth 3.8 trillion won, data at 0710 GMT showed, compared to 296.1 million shares worth 3.4 trillion won on Tuesday. Decliners edged out gainers by 414 to 335 with 64 titles ending flat.
Foreign investors sold a net 18.4 billion won in shares on the main bourse, while institutional investors sold a net 6.9 billion won. But retail investors bought a net 12.9 billion won.
The March KOSPI 200 futures index fell 0.80 point to 176.85, while the underlying KOSPI 200 spot index lost 0.60 point to 176.85.
South Korea's junior and tech heavy Kosdaq market fell 0.46 percent to finish at 679.19.
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