Seoul shares fall

Seoul shares suffered their biggest fall in a month on Friday led by Samsung Electronics and other exporters on worries that an end to ultra-easy Japanese monetary policy would bolster the won currency and dent global investments.
A surge in oil prices also kept inflation fears alive, raising the prospect of rising global interest rates and lower consumer demand, while hitting energy cost-sensitive stocks such as state-run power provider KEPCO.
Decliners trumped gainers by 649 to 116. The main KOSPI index wiped out 18.5 trillion won ($19.10 billion) off its market value, as foreign and institutional investors sold a combined net 431.4 billion won in local shares.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.83 percent to end at 1,328.95, its biggest one-day percentage fall since declining 2.98 percent on February 3. It was also the lowest close in the main index since it ended at 1,314.32 on February 16. Shares fell 2.7 percent in a trading week shortened by a public holiday on Wednesday.
"A rise in Japanese interest rates would unwind the yen carry trade, which would hit global investments. It would also lead to a strengthening of the yen, which has an enormous influence on the won, so exporters would be hit," said Chang In-whan, chief executive and fund manager at KTB Asset Management.
Exporters fell sharply, with Samsung Electronics Co Ltd, the world's biggest maker of memory chips, tumbling 4.96 percent to 652,000 won, its biggest one-day percentage fall since losing 4.99 percent on November 22.
However, among a handful of gainers, auto maker Hyundai Motor Co rose 1.83 percent to 83,600 won, recovering from a three-day losing streak, after reporting late on Thursday sales in February rose 23 percent from a year earlier.
Trade volume reached 336 million shares worth 4.4 trillion won data at 0715 GMT showed, compared to 406 million shares worth 4.6 trillion won on Thursday.
Foreign investors sold a net of 162.6 billion won in shares on the main bourse, while institutional investors sold a net of 268.6 billion won. Retail investors bought a net of 391.4 billion won.
The March KOSPI 200 futures index fell 5.60 points to 171.25, while the underlying KOSPI 200 spot index lost 5.18 points to 171.67.
South Korea's junior and tech heavy Kosdaq market fell 2.08 percent to finish at 665.05.