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Seoul shares snap 6-day winning streak on foreign selling
February 13, 2014 / 6:11 AM / 4 years ago

Seoul shares snap 6-day winning streak on foreign selling

SEOUL, Feb 13 (Reuters) - Seoul shares snapped a six-day winning streak on Thursday, as offshore investors repositioned as net-sellers while programme selling on options expiry day added pressure.

The Korea Composite Stock Price Index (KOSPI) closed down 0.5 percent at 1,926.96 points, ending the six session gain of 2.6 percent that brought the market to a position not seen since Jan. 29 on Wednesday.

Foreigners sold a net 106.7 billion won ($100.41 million) worth of KOSPI shares, more than offsetting the combined net buying of 93.8 billion won by retail and institutional investors.

The year’s second options expiry day added pressure, with programme selling at a net 110 billion won via arbitrage and non-arbitrage transactions.

Hyundai Merchant Marine Co Ltd, which tumbled 6.7 percent on profit taking, gave up much of Wednesday’s 8.8 percent rise.

$1 = 1062.6000 Korean won Reporting by Jungmin Jang; Editing by Jacqueline Wong

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