The South Korean stock market is expected to trade flat amid weak corporate earnings for the third quarter and the U.S. Federal Open Market Committee meeting slated for next week, analysts said Saturday.

The benchmark Korea Composite Stock Price Index decreased 0.9 percent Friday from a week earlier.

On Monday, Seoul shares remained almost unchanged as investors sat on the sidelines as the U.S. was scheduled to announce its jobs data for September before the next trading session.

Analysts said the wait-and-see approach came as September's jobs data was expected to suggest how the U.S. economy will perform in the future.

The local stock market lost ground Wednesday as the jobs data did not meet the market's estimate, potentially casting a cloud over the world's No. 1 economy down the road.

The decline, however, also had a limited impact, as the weak economic data may induce the U.S. Federal Reserve to delay the tapering of quantitative easing moves to next year.

Monetary easing moves by an advanced country usually cause investors to set their sights on riskier emerging markets, while a reduction leads them to relocate their investments.

Seoul shares rose later in the week as investors' concerns over a possible economic slowdown in China were eased following the country's better-than-expected manufacturing data outlook for October.

British bank HSBC said the Purchasing Managers Index for China's manufacturing sector is expected to reach 50.9 this month, hovering above the earlier estimate of 50.4.

The PMI is an index that measures the health of a country's manufacturing sector. A reading of 50 or above represents an expansion of the sector from the previous month, while a reading below the figure represents a contraction.

Seoul shares, however, lost ground Friday as market researcher Markit Economics said the composite PMI for the eurozone is anticipated to reach 51.5 in October, down 0.7 points from a month earlier.

Weekly foreign buying reached 1 trillion won ($941.3 billion), ending its 40th consecutive net-purchase rally as of Thursday. Individuals also bought more shares than they sold at 150 billion won, while institutions sold a net 1.1 trillion won.

Analysts said Seoul shares are expected to trade flat next week amid the weaker-than-expected earnings of listed firms for the third quarter.

"The U.S. FOMC meeting scheduled for next week is expected to delay its tapering of quantitative easing amid the weak recovery of its economy," said Han Chi-hwan, a researcher at KDB Daewoo Securities Co.

"However, as such decision is already priced into the market, it will not lend support to the growth," Han added.

Logistics and food producers gained 6.4 percent and 4.7 percent this week, while electronics and financial shares moved down 2.5 percent and 1.9 percent, respectively. (Yonhap News)