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S.Korea shares bounce from 5-1/2 mth low, foreign sell-off caps gains
February 5, 2014 / 6:15 AM / in 4 years

S.Korea shares bounce from 5-1/2 mth low, foreign sell-off caps gains

SEOUL, Feb 5 (Reuters) - South Korean shares rebounded on Wednesday, bouncing from a 5-1/2 month low hit the previous day as investors scooped up recently battered stocks such as builders and automakers, though persistent foreign sellling capped gains.

The Korea Composite Stock Price Index (KOSPI) closed up 0.2 percent at 1,891.32 points.

The KOSPI had retreated 2.8 percent in the past two sessions to the lowest level since last August as part of a broader sell-off in riskier assets globally.

The construction sector outperformed all other sub-indexes tracked by Korea Exchange, rising 2.8 percent on the back of Hyundai Development Co Engineering & Construction , which rose 8.3 percent.

Automaker Hyundai Motor Co advanced 1.1 percent after giving up 3.7 percent earlier this week, while its affiliate Hyundai Mobis Co Ltd rose 3.5 percent.

Foreigners sold a net 289 billion won ($266.7 million) worth of KOSPI shares, positioning as net sellers for the eighth time in the last 10 sessions and bringing their total net selling this year to 3 trillion won. ($1 = 1083.8000 Korean won) (Reporting by Jungmin Jang; Editing by Kim Coghill)

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