Seoul shares fall on reduced foreign buys, weak Chinese markets

South Korean stocks trimmed earlier gains to end flat due to reduced foreign buying and poor-performing Chinese stocks. The local currency climbed against the U.S. dollar.

The benchmark Korea Composite Stock Price Index fell 2.71 points, or 0.13 percent, to 2,047.76.

The main index fell after marking a 1.61 percent increase for the whole of last week. On Friday, it closed at 2,050.47 points, hitting fresh yearly highs.

Kim Ye-eun, an analyst at LIG Investment & Securities, said the local stocks fell "as foreigners reduced their purchasing volume of local stocks and the Chinese stock market turned lower."

Still, foreigners turned into net buyers with a purchase of 24 billion won worth of local stocks while institutions sold a net 12 billion won on profit-taking.

The Dow Jones industrial average rose 0.32 percent, with the tech-heavy Nasdaq composite index climbing 0.56 percent.

Most large-cap stocks advanced across the board.

Market bellwether Samsung Electronics Co. rose 1.49 percent to 1,568,000 won and SK Innovation, the nation's largest refiner, gained 2.30 percent to 155,500 won.

In contrast, top automaker Hyundai Motor Co. fell 2.21 percent to 133,000 won, and top auto parts maker Hyundai Mobis Co. declined 0.77 percent to 258,000 won.

The local currency closed at 1,092.20 won against the U.S. dollar, up 11.10 won from the previous session's close. (Yonhap)