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Seoul shares slip but post this year's first weekly gain
January 17, 2014 / 6:22 AM / in 4 years

Seoul shares slip but post this year's first weekly gain

SEOUL, Jan 17 (Reuters) - Seoul shares slipped to a one-week closing low on Friday after downbeat U.S. corporate results chilled risk sentiment ahead of domestic earnings reports due next week.

Offshore investors sold a net 100.2 billion won ($94 million) worth of KOSPI shares, weighing on the main bourse.

The Korea Composite Stock Price Index (KOSPI) closed down 0.7 percent at 1,944.48 points, its lowest close since Jan. 10. But the KOSPI rose 0.3 percent for the week, posting its first weekly gain of the year.

Banks underperformed, with Hana Financial Group Inc and Industrial Bank of Korea (IBK) falling 2.5 percent and 1.6 percent, respectively. ($1 = 1063.3500 Korean won) (Reporting by Jungmin Jang; Editing by Chris Gallagher)

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