Seoul shares lower

Seoul shares ended lower on Monday as foreign investors sold amid continued concern about the Greek debt situation ahead of a crucial parliamentary vote later this week. The Korea Composite Stock Price Index ended down 0.98 percent or 20.52 points at 2,070.29 points.
KOSPI 200 September futures ended down 3.35 points at 272.60 points and the KOSPI 200 spot index fell 2.87 points to 271.44. The junior Kosdaq market ended up 0.37 percent at 475.43. "Investor are taking a cautious stance as a decision in Greece is pending," said KB Investment & Securities market analyst Kim Soo-young.
Greece's deputy prime minister warned on Sunday that rebel lawmakers may block some reforms sought by international lenders, but parliament would probably back an overall austerity package this week to avert a sovereign default. Foreign investors were sellers of a net 106.8 billion won ($99 million) worth of stocks. S-Oil Corp lost 2.6 percent and SK Innovation fell 0.5 percent. Memory chip issues were weighed down by a 2.5 percent fall in the US Philadelphia semiconductor index and as investors avoided cyclical sectors as global economic uncertainty pervaded.
Samsung Electronics Co Ltd, the world's No 1 memory chip maker, shed 2 percent and Hynix Semiconductor Inc, the world's No 2, lost 4.3 percent. Automakers outperformed as they are expected to post solid results. News that J.D.Power and Associates had forecast that June US auto sales would rise 8 percent from a year earlier and 2.6 percent from last month, in line with statements earlier this week from General Motors Co and Ford Motor Co executives, provided lift.
Hyundai Motor Co rose 0.9 percent and Kia Motors Corp climbed 0.3 percent. Hanjin Heavy Industries & Construction Co Ltd rallied 6.5 percent after local media reported that the company union had decided to end a strike that has been dragging on for months. Hanjin Heavy Industry & Construction Holdings Co Ltd rose 2.8 percent.