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Korea's KOSPI ends down a whisker on foreign sales

SEOUL: South Korea's benchmark index clawed its way back from a fall of more than four percent to end just slightly lower on Wednesday after a choppy day of trade that saw retail buying offset foreign and institutional sales, analysts said.

Retail investors bargain hunting for small caps helped pare large losses on the main index, they said.

The Korea Composite Stock Price Index (KOSPI) closed down 0.20 point or 0.02 percent at 879.50 points. "The market was very volatile today," said Lee Jae-young, a fund manager at Hyundai Investment Trust Management Co, noting the futures index went for a roller coaster ride in the afternoon on foreign sales only to stampede back to positive ground in late trade.

Analysts said foreign investors were skiddish on concerns over high international oil prices, the won's underlying bullishness versus the dollar and expectations that another US rate hike could be just around the corner.-Reuters