Seoul shares down 0.6 pct on foreign selling

SEOUL, June 20 (Yonhap) -- South Korean stocks closed 0.6 percent lower on Monday as foreign investors unloaded their holdings amid persistent worries over the Greek debt crisis, analysts said. The local currency closed unchanged against the U.S. dollar.
After opening higher, the benchmark Korea Composite Stock Price Index (KOSPI) fell 12.28 points to 2,019.65. Trading volume was light at 226.4 million shares worth 6.31 trillion won (US$5.81 billion), with losers outnumbering gainers 426 to 407.
"Foreigners remained net sellers amid lingering worries over Greece's debt situation," said Lim Dong-lak, an analyst at Hanyang Securities Co.
"Overall, trading was tepid as investors took to the sidelines ahead of major events this week such as a meeting of the Federal Open Market Committee (FOMC) and a decision on South Korea's inclusion into the Morgan Stanley Capital International (MSCI) developed market index," said Lim.
The FOMC is scheduled for June 21-22 (local time) and the announcement on South Korea's entrance into the MSCI developed market index is set to take place on June 22.
Techs lost ground on grim second-quarter profit forecasts and fears a global economic slowdown may further dent their revenues. Market bellwether Samsung Electronics dipped 2.32 percent to 800,000 won, and its smaller rival LG Electronics lost 1.5 percent to 78,600 won.
Energy companies also ended bearish. Top refiner SK Innovation slumped 5.22 percent to 209,000 won, and smaller player S-Oil slid 4.67 percent to 143,000 won.
Retailers closed mixed. Shinsegae sank 5.56 percent to 323,000 won on concerns over slowing growth, but Hyundai Department Store jumped 5.06 percent to 176,500 won.
Top automaker Hyundai Motor inched up 0.89 percent to 227,500 won on upbeat forecasts for the second quarter.
The local currency closed flat at 1,085.9 won against the greenback as concerns over the euro zone crisis and a recovering appetite for riskier assets tied, dealers said.
mil@yna.co.kr