Seoul shares inch up on Fed outlook; Hyundai Rotem jumps in debut
* Foreigners position as sellers, buying streak at stake
* Automakers struggle on profit taking
* Hyundai Rotem advances on market debut
SEOUL, Oct 30 (Reuters) - Seoul shares edged up in choppy trade on Wednesday morning, on hopes the U.S. Federal Reserve will keep its stimulus policy intact, but foreign investors who turned sellers capped gains.
The Korea Composite Stock Price Index (KOSPI) gained 0.2 percent to 2,054.95 points by 0228 GMT after dipping as low as 2,043.93.
"For offshore investors, concerns about global economic recovery are a heavier factor than cheers over a likely extension of easy money ahead of the Fed's policy statement," said E-Trade Investment & Securities analyst Choi Kwang-hyeok
"Offshore investors are divided over the effects of extended U.S. liquidity in the main bourse, raising ambiguity about the direction of capital flows," said Choi.
The Fed's policy statement due later in the global day is expected to see it put off any tapering of its $85 billion of monthly asset purchases until March at the earliest, indicating a slow economic recovery in the world's largest economy.
After notching a record 43 consecutive sessions as net buyers on Tuesday, foreign investors appeared ready to snap the buying streak, positioning as sellers by offloading 89.1 billion won ($84.01 million) worth of shares on Wednesday morning.
However, the amount of selling has been gradually trimmed down, leaving room for a turnaround.
Offshore investors locked in profits from stocks they had favoured during their record streak, with Hyundai Motor Co declining 1 percent. Hyundai's affiliates, Kia Motors Corp and Hyundai Mobis Co Ltd fell 1.8 percent and 1.5 percent, respectively.
Train manufacturer Hyundai Rotem Co jumped 10.8 percent on its debut to the KOSPI, as investors flocked to the country's largest IPO in three years.
Earlier, South Korea's weak industrial output figures caught investors off guard, as it fell the most in 6-months in September from August, but was expected to rebound.
($1 = 1060.6500 Korean won) (Reporting by Jungmin Jang; Editing by Jacqueline Wong)
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