Seoul shares down

09 Oct, 2010

Seoul shares ended down 0.2 percent on Friday amid caution ahead of US jobs data and with the main index near a 33-month high. Losses were led by technology stocks, including Samsung Electronics Co Ltd and LG Electronics Inc. The Korea Composite Stock Price Index (KOSPI) ended down 3.78 points at 1,897.07. The 30-day relative strength index (RSI) was about 73, above the overbought territory mark of 70. The main index's 30-day moving average was about 1,818 points.
Foreign investors turned net sellers after a 17 session consecutive buying streak, offloading a net 30 billion won. Technology stocks retreated, with Samsung Electronics down 1.6 percent, continuing to be weighed by its disappointing set of third quarter earnings guidance released on Thursday. Shares in LG Display, the world's No 2 flat panel maker, fell 1.3 percent. Shares in Hyundai Motor ended up 1.3 percent after two losing streaks, and Kia Motors climbed 1.7 percent.

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