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South Korean shares posted the first rise this week on Wednesday as foreigners sold less local shares, but the rebound was limited on gloomy expectations for the third-quarter earnings result.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 6. 73 points, or 0.33 percent, to close at 2,035.64. Trading volume stood at 328.76 million shares worth 4.34 trillion won (4.18 billion U.S. dollars).
Foreigners sold local stocks worth 13.5 billion won after dumping more than 200 billion won in the previous day. Local financial institutions raised stock holdings by 120.8 billion won, but retail investors offloaded shares worth 112.5 billion won.
The KOSPI, which took a weak start, erased earlier losses, ending in positive territory amid lack of momentum to drive up the benchmark index further.
Concerns remained about downturn in the third-quarter earnings results in major companies, including Samsung Electronics and Hyundai Motor, due to dimmer outlook for smartphone sales and the local currency's appreciation to the Japanese yen.
Adding to the concerns, the U.S. Federal Reserve is expected to end its bond-buying program in October, edging closer to its first rate increase since 2006.
Market bellwether Samsung Electronics declined 0.9 percent, keeping its downward trend for three days in a row. Worries lingered about the world's largest smartphone maker seeing a decline in the third-quarter earnings due to weak demand for smartphones and fiercer competition.
Top automaker Hyundai Motor edged up 0.3 percent after it won a bid for land in central Seoul at a price tripling the assessed value.
Among large-cap shares, gainers outnumbered decliners. Memory chip giant SK Telecom jumped 4 percent, and the state-owned power supplier Korea Electric Power Corp. surged 4.6 percent after selling the land to Hyundai Motor.
The biggest steelmaker POSCO gained 1.4 percent, but leading chemical firm LG Chem dipped 0.2 percent. The No. 2 carmaker Kia Motors slid 0.4 percent, and top mobile operator SK Telecom lost 0. 3 percent.
The South Korean currency finished at 1,039.9 won against the greenback, up 0.1 won from Tuesday's close.
Bond prices ended higher. Yields on the liquid three-year treasury notes declined 1.5 basis points to 2.335 percent, and the return on the benchmark five-year government bonds lost 1.5 basis points to 2.582 percent.
