(LEAD) Seoul stocks close down 0.38 pct on profit-taking

(ATTN: RECASTS headline; ADDS bond yields at bottom)
SEOUL, Feb. 18 (Yonhap) -- South Korean stocks finished 0.38 percent lower
Thursday as investors scrambled to lock in profits after two straight rallying
sessions, analysts said. The local currency dropped against the U.S. dollar.

Snapping the short winning streak, the benchmark Korea Composite Stock Price
Index (KOSPI) declined 6.24 points to end at 1,621.19. Transaction volume was
moderate at 308.4 million shares worth 3.2 trillion won (US$2.8 billion), with
losers outnumbering gainers 430 to 327.
"The key index underwent a technical correction after solid gains in the previous
two days brought the index to the highest level in 15 sessions," said Kim
Joong-won, an analyst at HMC Securities.
"Still, the stock market is on a upward trend without especially unfavorable
events, with foreign investors persistently increasing holdings of local shares,"
Kim said.
Overseas investors lapped up a net 176 billion won of stocks, in their third
straight session of net purchases.
Big-cap tech and auto shares led the market tumble, with market bellwether
Samsung Electronics falling 0.51 percent to 775,000 won.
Top automaker Hyundai Motor slid 1.7 percent to 115,500 won and smaller affiliate
Kia Motors declined 1.84 percent to 21,300 won after rallying sharply higher on
its bigger global rival Toyota's safety woes.
OCI, a maker of polysilicon used in solar panels, fell 3.73 percent to 180,500
won after a brokerage report said the global price of polysilicon may fall due to
a supply glut.
Woori Finance Holdings closed down 2.53 percent to 13,500 won after a financial
regulator said it will consider merging the firm, whose majority share is owned
by the government, with another company as part of efforts to offload the state's
stake.
The South Korean won ended at 1,150.50 won versus the greenback, down 8.30 won
from Wednesday's close.
Bond prices, which move inversely to yields, closed mixed. The yield on the
benchmark three-year Treasury note closed steady at 4.10 percent, and the return
on five-year government bonds dropped 0.01 percentage point to 4.73 percent.
pbr@yna.co.kr
(END)

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