South Korean shares fall on foreign selling

South Korean shares fell on Thursday as foreign investors turned into net sellers in six sessions despite Federal Reserve Chairman Ben Bernanke's comments over the need for highly accommodative monetary policy. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12. 01 points, or 0.64 percent, to close at 1,875.48. Trading volume stood at 376.18 million shares worth 3.47 trillion won (3.08 billion U.S. dollars). Bernanke reiterated his stance in his testimony to the U.S. Congress that highly accommodative monetary would remain appropriate for the foreseeable future, assessing that unemployment in the United States was still high and fell only at a gradual pace. Foreigners sold a net 113.4 billion won worth of shares, shifting into net sellers in six sessions. Local institutions were net buyers, but their purchases stood merely at 400 million won. Retail investors bought shares worth 115.4 billion won, limiting the KOSPI's further decline. Large-cap shares ended mixed. Market bellwether Samsung Electronics retreated 2.1 percent, but top automaker Hyundai Motor rose 0.9 percent. The nation's No.2 carmaker Kia Motors advanced 1.8 percent, but top auto parts maker Hyundai Mobis slid 0.4 percent. Memory chip giant SK Hynix climbed 2.1 percent, and the state- run power supplier Korea Electric Power Corp. (KEPCO) jumped 3.4 percent. The world's largest shipbuilder Hyundai Heavy Industries dipped 1 percent, and leading chemical firm LG Chem fell 1.1 percent. The local currency finished at 1,126.3 won against the greenback, down 4.7 won from Wednesday's close.