SEOUL Oct 25 Seoul shares closed weaker on
Friday, as a stronger won and jitters China's economic outlook
prompted foreigners to be net sellers of domestic stocks for the
first time in two months.
The Korea Composite Stock Price Index (KOSPI) closed
down 0.6 percent at 2,034.39 points on Friday. The index
declined 0.9 percent for the week, its biggest weekly fall since
Foreigners sold a net 2.7 billion won ($2.54 million) of
local shares on Friday, snapping a record streak of net buying
after 40 days.
From Aug. 23 through Thursday, foreigners purchased a net
13.5 trillion won and pushed their ownership in Seoul shares up
1.7 percent to 35.45 percent, the highest level since July 2007.
Shipbuilding and the energy chemical sector
pulled down the broader market by falling 3.6 percent
and 2.3 percent, respectively on concerns China will tighten
Samsung Electronics Co Ltd, the largest
component of KOSPI, ended unchanged after posting a record
($1 = 1061.0500 Korean won)
(Reporting by Jungmin Jang; Editing by Richard Borsuk)