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Korean shares extend losses on foreign selling

South Korean shares extended losses late Wednesday morning as foreigners dumped stocks on profit taking. The won traded lower against the dollar. 

The benchmark Korea Composite Stock Price Index fell 12.58 points, or 0.53 percent, to 2,356.65 as of 11:20 a.m.

Foreigners and institutional investors offloaded a combined 182 billion won ($159 million) worth of stocks. But individuals bought a net 163 billion won worth of stocks. 

Large-cap stocks were mostly trading lower.

Market bellwether Samsung Electronics fell 0.79 percent, and No. 2 chipmaker SK hynix declined 0.16 percent. Top carmaker Hyundai Motor was down 1.50 percent.

Among gainers, state-run utility firm Korea Electric Power Corp. rose 1.70 percent, leading mobile carrier SK Telecom climbed 2.40 percent, and cosmetics giant AmorePacific was up 1.50 percent.

The local currency was trading at 1,141.25 won against the dollar, down 5.85 won from the previous session's close. (Yonhap)
Korea Herald daum