Korean stocks closed lower on Sept. 28 as foreign buyers went on a heavy selling spree targeting large-cap shares that snapped a three-day winning streak, analysts said. The Korean won gained ground against the US dollar.
The benchmark KOSPI surrendered 12.36 points, or 0.52 percent, to close at 2,343.07. Trading volume was moderate at 311.8 million shares worth 6.9 trillion won (US$6.2 billion), with losers outnumbering gainers 454 to 355.
Foreigners offloaded a net 211.5 billion won worth of shares on the main exchange, while individual and institutional investors scooped up a net 124.8 billion won and 58.6 billion won, respectively.
The Korean currency closed at 1,109.30 won against the US dollar, up 3.20 won from the previous trading session.
By Song Seung-hyun and newswires (firstname.lastname@example.org