REFILE-South Korean shares end lower on fear of c.banks winding down stimulus

(Corrects punctuation in ninth paragraph, adds editor's name)

* Samsung Elec falls for a fifth session

* Appetite for defensive sector plays strong

* Foreign investors sell for a fourth straight session

SEOUL, June 12 (Reuters) - South Korean shares extended falls on Wednesday in line with regional markets as foreign investors pulled out on fears that major central banks would soon start to scale back their bond buying programmes.

The Korea Composite Stock Price Index lost 0.56 percent to close at 1,909.91 points, testing the 1,900-mark, which the market had managed to stay above for the past two months.

Samsung Electronics and Hyundai Motor , both market heavyweights, were weaker.

"Foreign money is receding from emerging markets amid signs global governments are soon to unwind their support measures," said Kim Yong-goo, a market analyst at Samsung Securities.

Foreign investors sold a net 387 billion won worth of stocks, offloading shares for a fourth straight session.

"Investors are playing more defensively now, veering away from growth-oriented cyclicals to safer sectors," Kim added.

Samsung Electronics dropped 0.3 percent, falling for a fifth straight session and hitting a fresh near 4-1/2 month closing low.

"Current selloff on Samsung Electronics shares does not look to be company-specific, but rather a country specific. This is sell Korea," said Park Young-ju, an analyst at Woori Investment & Securities.

Park said the share price was "undervalued" given the company's fundamentals and earnings outlook.

Samsung Electronics' 12-month forward earnings multiple and price to book value ratio were 6.2 and 1.3 each, compared with rival Apple Inc's 10.4 and 2.7, Thomson Reuters StarMine data showed.

Hyundai Motor shed 1.5 percent and Kia Motors fell 1 percent.

The possibility of a shift in the U.S. Federal Reserve's current policy, even if such a move wasn't imminent, has rattled markets in recent weeks as the Fed's aggressive bond-buying plan has been a major driving force behind the recent rally in global risk assets.

A lack of any new action by the Bank of Japan on Tuesday to ease bond market volatility added to the negative sentiment.

The cancellation of high level talks between South Korea and the North after a gap of nearly six years affected stocks of firms with interests in the communist-run state.

Hyundai Merchant Marine, a majority shareholder of unlisted Hyundai Asan which operated tours of Mount Kumgang in North Korea, fell 14.7 percent. Romanson, a watch and jewellery maker that has production facilities in the presently-closed Kaesong joint industrial zone, declined 4.3 percent.

The KOSPI 200 benchmark of core stocks fell 0.7 percent, while the junior KOSDAQ edged down 0.3 percent.

Move on day -0.56 percent

12-month high 2,042.48 3 January 2013

12-month low 1,758.99 25 July 2012

Change on yr -4.4 percent

All-time high 2,231.47 27 April 2011

All-time low 93.10 6 January 1981 (Reporting by Jungyoun Park; Editing by Sanjeev Miglani)