Seoul shares trimmed earlier near-2 percent losses to close down 0.2 percent on Monday, helped by gains in nuclear power issues such as KEPCO E&C, but falls in banking stocks such as KB Financial weighed. The Korea Composite Stock Price Index (KOSPI) ended down 0.17 percent at 1,743.31 points.
"The market managed to slash earlier losses as substantial selling from programme accounts stabilised. But caution on the economic outlook, ahead of key US data, continued to keep investors on edge," said Kim Hyoung-ryoul, a market analyst at NH Investment & Securities. Foreign investors were sellers of a net 350.4 billion won ($296 million) worth of stocks, offloading shares for a fourth straight session. But institutions purchased a net 108.6 billion won.
Brokerages fell after some reported weak quarterly results late on Friday. Daewoo Securities Co Ltd lost 1 percent after it reported a net profit of 60.6 billion won ($51.2 million) in the April-June quarter, down 50 percent from a year earlier. KB Financial Group Inc, parent of top commercial lender Kookmin Bank, fell 1.5 percent. Shinhan Financial Group Co Ltd declined 2.2 percent.
Decliners outnumbered advancers 466 to 326 and 85 issues ended flat. Trading volume was 308.4 million shares worth 4.1 trillion won, compared with 273.7 million shares worth 4.4 trillion won in the previous session. The KOSPI 200 September futures index ended down 0.50 points at 226.15, and the KOSPI 200 spot index slipped 0.50 points to 226.51. The junior Kosdaq market ended 0.23 percent lower at 476.08.
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