* KOSPI treads water near record high after 3-day rally
* Earnings guidance awaited later in week
* Won firms slightly
SEOUL, July 18 (Reuters) – South Korean shares paused on
Tuesday as foreigners turned sellers after the benchmark rallied
for three straight days to all-time highs, and as investors
looked to company earnings guidance later in the week to give
the market fresh momentum.
The Korea Composite Stock Price Index (KOSPI) was
down 0.1 percent at 2,423.85 points as of 0212 GMT.
Offshore investors were set to be modest net sellers of
KOSPI shares near mid-session, offloading 105.9 billion Korean
won ($94.02 million) worth.
“There is no specific momentum to drive the markets for
today, keeping the KOSPI in a very narrow range,” said Kim
Hyung-ryeol, a stock analyst at Kyobo Securities.
Kim said market moves for the rest of the week will depend
on global economic data and second-quarter earnings guidance
from some local companies such as Samsung Eletro-Mechanics Co
Kakao rose nearly 4 percent on high hopes of an
earnings surprise for the second quarter. Samsung SDI
gained 1 percent.
Overall stocks were mixed, with decliners slightly
outnumbering advancers 450 to 336.
The South Korean won was 0.2 percent up at
1,126.5 to the dollar compared to Monday’s close of 1,128.3.
September futures on three-year treasury bonds
gained 0.03 point to 109.21.
0212 GMT Prev close
Dollar/won 1,126.5 1,128.3
Yen/won 10.0346/71 10.0079
*KTB futures 109.21 109.18
KOSPI 2,423.85 2,425.10
* Front-month futures on three-year treasury bonds
(Reporting by Dahee Kim; Editing by Kim Coghill)