Seoul shares edge down but car makers limit loss; won flat

Monday, 27 July 2015 13:36

Posted by Parvez Jabri

SEOUL: Seoul shares edged down on Monday on concerns over second quarter earnings, while car makers bolstered the main board on expectations a recently weak won could help lift their exports.

The Korea Composite Stock Price Index (KOSPI) was down 0.4 percent at 2,038.81 points. It touched a morning low of 2,032.44, the lowest in two weeks.

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Hyundai Motor Co Ltd closed up 4.3 percent to 145,000 won, its highest closing level since June 2.

Hyundai’s affiliate Kia Motors Corp gained 4.4 percent, its sharpest one-day rise since April 14, to a near three-week high close of 43,650 won.

The won ended at 1,167.0, barely changed from the previous close at 1,167.9 ahead of a two-day US Federal Open Market Committee (FOMC) meeting starting on Tuesday.