Seoul shares end down 0.12 pct on profit-taking

SEOUL, Dec. 22 (Yonhap) -- South Korean stocks closed 0.12 percent lower Monday
as investors took profits, disappointed with the government's delay in easing
regulations on the real estate market, analysts said. The local currency fell
against the U.S. dollar.

Reversing earlier gains, the benchmark Korea Composite Stock Price Index (KOSPI)
fell 1.36 points to 1,179.61. Volume was moderate at 431 million shares worth
4.54 trillion won (US$3.46 billion), with gainers outpacing losers 435 to 368.
"The Seoul bourse turned weaker as investors' hopes for the government's
announcement to boost the real estate market were dashed," said Bae Sung-young,
an analyst at Hyundai Securities Co. "A weaker won also chilled investor
sentiment."
Hopes of a year-end rally boosted the KOSPI above the 1,200-point mark at one
point in the morning session. It was the first time in more than one month that
the key index traded above that level.
But after the land ministry's policy report to President Lee Myung-bak was found
to miss measures to shore up the real estate market, investors dumped shares like
builders.
Top construction firm Daewoo Engineering & Construction fell 0.4 percent to 9,880
won and its rival Hyundai Engineering & Construction shed 1.8 percent to 59,900
won.
Tech bellwether Samsung Electronics declined 0.72 percent to 486,000 won and chip
giant Hynix Semiconductor lost 3.64 percent to 8,210 won.
But top carmaker Hyundai Motor gained 0.99 percent to 45,750 won on the back of a
U.S. auto industry aid package.
The local currency ended at 1,309 won to the dollar, down 19 won from Friday's
close, as the local stock index fell, dealers said.
sooyeon@yna.co.kr
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