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Roundup: S.Korean shares fall on U.S., China uncertainties

Xinhua, September 7, 2015 Adjust font size:

South Korean shares ended in negative territory on Monday as foreigners kept selling local stocks for 23 sessions in a row on uncertainties over the timing of interest rate hike in the United States and economic slowdown in China

The benchmark Korea Composite Stock Price Index (KOSPI) fell 2. 82 points, or 0.15 percent, to 1,883.22 at the close. Trading volume stood at 285.33 million shares worth 3.73 trillion won (3.1 billion U.S. dollars).

Non-farm payroll in the United States increased 173,000 in August, missing market expectations and obscuring the timing of the first rate hike by the U.S. Federal Reserve since the global financial crisis.

Concerns remained about economic growth in China, South Korea's largest trading partner. South Korea's exports to China declined 8. 8 percent in August from a year earlier, helping the country's overall exports post the fastest monthly reduction in six years.

The South Korean currency weakened to the lowest versus the dollar in more than five years amid worries about the world's top two economies. The South Korean won finished at 1,203.7 won against the greenback, down 10.3 won from Friday's close. It was the weakest close since July 22, 2010.

Foreign investors dumped 285 billion won worth of local stocks, the largest sale in seven trading days. Foreigners remained net sellers in the local stock market for 23 days in a row.

Local financial institutions bought a net 268 billion won worth of stocks, but retail investors were net sellers of a net 22 billion won worth of shares.

Large-cap shares ended mixed. Top automaker Hyundai Motor gained 1.3 percent, and its affiliate Kia Motors rose 1.7 percent. The biggest auto parts maker Hyundai Mobis added 2 percent.

The No.1 life insurer Samsung Life Insurance lost 3.5 percent, and top mobile operator SK Telecom slid 2 percent. Market bellwether Samsung Electronics fell 1.5 percent, and the biggest steelmaker POSCO declined 1.6 percent.

Bond prices ended mixed. Yields on the liquid three-year treasury notes rose 0.6 basis point to 1.651 percent, but the return on the benchmark 10-year government bonds slid 1.7 basis points to 2.224 percent. Endi