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Seoul stocks at 5-week closing low, won has best month since Sept
April 30, 2014 / 6:11 AM / 3 years ago

Seoul stocks at 5-week closing low, won has best month since Sept

(For the midday report, please click )

SEOUL, April 30 (Reuters) - Seoul shares drifted down to their weakest close in five weeks on Wednesday, giving up early gains as foreign investors offloaded marquee names such as Samsung Electronics and Hyundai Motor before a U.S. Federal Reserve policy meeting ends.

The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 1,961.79 points, the weakest close since March 25 and extending its skid to a sixth session. The index shed 1.2 percent in April.

Foreigners were net sellers of 82.2 billion won ($79.8 million) of KOSPI shares, pulling down Samsung Electronics Co Ltd and Hyundai Motor Co 1.3 percent and 1.7 percent, respectively.

The local currency was quoted at 1,033.2 against the dollar at the end of onshore trade, down 0.3 percent from Tuesday’s close at 1,030.6. But during April, the won rose 3 percent, its strongest monthly gain since 3.3 percent in September 2013.

Seoul financial markets will be closed on Thursday due to Labour Day and resume trading on Friday, May 2. ($1 = 1030.5500 Korean Won) (Reporting by Jungmin Jang; Editing by Richard Borsuk)

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