South Korean shares fell for the first session in four on Tuesday, as investors locked in gains in recent gainers such as steel maker POSCO Co Ltd amid worries that valuations had risen too high.
Shares had gained for three consecutive days, with the main KOSPI index ending on Monday at its highest in more than three weeks.
Worries that these gains may have been excessive amid uncertainty about the impact of a stronger won currency on this year's profits, offset the impact of a drop in oil prices and an unexpected jump in January industrial output data.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.24 percent to end at 1,371.59. Shares fell 2 percent in February.
Trading was light ahead of Wednesday's public holiday when financial markets will be closed for Independence Movement Day, with 294.3 million shares worth 3.3 trillion won changing hands as of 0655 GMT.
That compared with January's daily average of 486.2 million shares worth 5.8 trillion won.
POSCO Co Ltd, the world's fifth-biggest steel maker, fell 2.95 percent to 230,000 won after its shares had risen 13 percent over the prior 10 sessions.
Samsung Electronics Co Ltd fell 0.58 percent to 687,000 won.
Hyundai Motor Co, fell 1.19 percent to 83,100 won.
LG Electronics Inc, the world's fourth-biggest mobile phone maker, lost 0.62 percent to 80,500 won as concerns that weaker handset margins would hit profits in the first quarter resurfaced.
Among gainers, state-run power provider Korea Electric Power Co (KEPCO) reversed two days of losses, gaining 2.57 percent to 41,950 won, as a drop in oil prices eased disappointment last week over the dividend it plans to pay out this year.
Shares were also lifted after KEPCO said earlier its electricity sales rose 8.8 percent in January.
Gainers edged out decliners by 369 to 353 with 94 titles ending flat.
Foreign investors sold a net 7.7 billion won in shares on the main bourse, data at 0655 GMT showed. Retail investors sold a net 36.2 billion won, while institutional investors sold a net 6.4 billion won.
The March KOSPI 200 futures index fell 0.95 point to 177.65, while the underlying KOSPI 200 spot index 0.65 point to 177.45.
South Korea's junior and tech heavy Kosdaq market ended unchanged at 682.36.