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Seoul shares flat as local selling offsets foreign buying
January 8, 2014 / 6:18 AM / in 4 years

Seoul shares flat as local selling offsets foreign buying

(For the midday report, please click )

SEOUL, Jan 8 (Reuters) - South Korean shares ended flat on Wednesday after a tug-of-war between offshore investors who had the appetite to buy stocks, on positive U.S. trade data, and local institutions selling them for profits.

The Korea Composite Stock Price Index (KOSPI) closed down 0.02 percent at 1,958.96 points.

Samsung Electronics dropped 1 percent after the market heavyweight said on Tuesday it expects fourth-quarter operating profit to fall 18 percent from the previous three months.

Foreign investors bought a net 160.9 billion won ($150.61 million) of KOSPI shares, while institutions offloaded 118.0 billion won worth. ($1 = 1068.3500 Korean won) (Reporting by Christine Kim; Editing by Richard Borsuk)

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