SEOUL, Feb. 18 (Xinhua) -- South Korean shares closed lower Thursday, ending a two-session-straight gain, the bourse operator said.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 6. 24 points, or 0.38 percent, to end at 1,621.19, the Korea Exchange (KRX) said.
The decline was mainly due to a technical correction as investors went for profit taking after the two days of solid gains, a local analyst was quoted as saying by Yonhap News Agency.
Despite the fall, the stock market will likely continue with the upward move as foreigners are to increase their holdings, Yonhap said.
While foreigners continued their buy move, individuals and institutions made a net sale, according to the KRX.
Market giants led the market decline, with Samsung Electronics falling 0.51 percent to 775,000 won (673.6 U.S. dollars) and top automaker Hyundai Motor shedding 1.84 percent to 21,300 won (18.5 U.S. dollars).
The junior bourse KOSDAQ, together with the main index, made it down 1.83 points, or 0.36 percent, ending at 513.33.
The derivatives markets also shot up, with the KOSPI 200 Futures market losing 0.75 point, or 0.35 percent, to close at 212. 85 points on the back of U.S. gains, according to the bourse operator.
In the meantime, the local currency lost value against the U.S. dollar, with the forex rate hitting 1,150.5 won against one U.S. dollar, down 8.3 won from the previous session.
Bond yields remained steady with the yield on the benchmark three-year Treasury note ending at 4.10 percent.
