Korean stocks ended almost flat on Thursday as investors took to the sidelines after the key index hit a seven-month high in the previous session. The local currency fell against the U.S. dollar.
After swerving in and out of positive terrain, the benchmark Korea Composite Stock Price Index slipped 1.32 points, or 0.06 percent, to close at 2,043.76. Trading volume was moderate at 470 million shares worth 5.91 trillion won ($5.24 billion), with decliners outnumbering gainers 499 to 327.
“There are still lingering woes over the eurozone debt crisis and high oil prices, the market is likely to be backed by ample liquidity,” said Lim Dong-lak, an analyst at Hanyang Securities.
“Foreigners will continue to buy local shares,” he said.
Market heavyweights closed mixed. Top-cap Samsung Electronics held steady at 1,250,000 won and its smaller rival LG Electronics gained 0.43 percent to 93,300 won.
But the world’s second-largest chipmaker Hynix Semiconductor shed 1.18 percent to close at 29,250 won.
Financials remained in positive terrain, with Woori Financial Holdings advancing 2.31 percent to 13,300 won.
Automakers and auto parts makers rose on hopes that the free trade deal with the U.S. will boost their sales in world’s largest economy.
Hyundai Motor, the country’s leading automaker, gained 1.33 percent to end at 228,000 won, and No. 2 Kia Motors rose 0.14 percent to 72,800 won.
Hyundai Mobis, the country’s leading auto parts maker, also climbed 1.03 percent to 295,500 won.
The local currency closed at 1,127.95 won against the greenback, down 1.85 won from Wednesday’s close, as the U.S. currency strengthened following the latest Federal Open Market Committee meeting, dealers said.
