Seoul shares fell on Monday led by Samsung Electronics as its first quarter earnings outlook dimmed, while rising oil prices sent transport companies such as Korean Air Line sharply lower. The Korea Composite Stock Price Index ended down 1.22 percent at 1,980.27 points. The KOSPI 200 March futures index finished down 3.9 points at 261.05.
The KOSPI 200 spot index declined 3.98 points to 261.44. The junior Kosdaq market ended flat at 518.77.
"Investors are taking profits after two sessions of big gains as they do not see compelling positive factors that justify further buying. The market will be weak this week," said Won Jong-hyuck, a market analyst at SK Securities.
The KOSPI rose 4 percent over the past two sessions. "Trading turnover is lower than usual, which indicates it is not a big selloff, but a trickle of selling amid general a lack of activity," Won added. Turnover stood at 4.7 trillion won, compared with a daily average of 6.2 trillion won in February.
"Investors are also cautious as they see signs of unrest even in Saudi Arabia," said Y.S. Rhoo, a market analyst at Hyundai Securities, noting that eyes were also on options expiry and the Bank of Korea's rate-setting meeting this week. Shares in Samsung Electronics tumbled on concerns that increased competition could dent its margins as investors awaited the commencement of earnings season next month.
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