SEOUL: South Korean shares were listless on Wednesday after sharp overnight losses in Wall Street trimmed the appetite for risk that had been increased by monetary easing in some markets.
The Korea Composite Stock Price Index (KOSPI) was up a marginal 0.08 percent at 1,953.76 points as of 0225 GMT.
Tech sectors underperformed after US counterparts as a group posted their biggest one-day decline in more than three years, led by a near 10 percent plunge in Microsoft Corp shares.
LG Display shares fell 1 percent, in spite of estimating it had its highest quarterly profits in four-years during October-December.
The screenmaker's profits were buoyed by strong demand for TV panels as well as components for Apple Inc's record-selling iPhone line. But the estimate was largely in line with expectations and already priced into the market, analysts said.
Game developer NCsoft Corp bucked trends, surging by the daily bourse limit of 15 percent after its major stakeholder Nexon Co announced it would exercise its ownership rights to take part in company management.
"Nexon's decision may trigger a shareholder rivalry with NCsoft executives which could encourage them to increase their stake by purchasing more of their own company's shares," said Joseph Chung, an analyst at NH Investment & Securities.
Samsung SDS soared 12 percent after beating street forecasts with robust fourth quarter earnings. Analysts like its long-term growth outlook and speculate that the unit might be a factor in future leadership of the wider Samsung Group.
The South Korean won fell on Wednesday, tracking broad declines in its regional peers after Singapore's dollar hit a 4-1/2 year low following a surprise policy-easing by the city-state's monetary authorities.
The local currency was quoted at 1,083.6 to the dollar as of 0225 GMT, compared to 1,079.8 seen at the end of Tuesday's session.
March futures on three-year treasury bonds added 5 basis points to trade at 108.63.
Investors will be looking for further market cues when the US Federal Reserve concludes its two-day policy meeting later in the global day.
original source: http://www.brecorder.com/markets/equity/asia/220400-south-korean-shares-flat;-won-slips-with-other-regional-currencies.html