Roundup: Seoul shares close down on recovery woes

South Korean shares continued to slide on Thursday amid growing skepticism about a global recovery, local analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 5. 03 points, or 0.29 percent, to close at 1,729.76, according to the bourse operator Korea Exchange (KRX).

The index continued to fall for the fifth consecutive session following grim economic data released in China and the U.S.

Investor sentiment stayed sluggish mainly due to spreading pessimism over the global economic slowdown and worries on a possible double dip.

While retailers stayed net buyers, together with institutions that swung back to the net buyer side, foreigners sold more shares than their purchase.

Most shares joined the decline, with construction shares shedding 2.09 percent and leading the second-session straight fall.

Among large market cap shares, POSCO and KEPCO dropped 1.32 percent and 0.81 percent, respectively, compared with Samsung Electronics and Samsung Life Insurance shares that inched up.

The junior bourse KOSDAQ also continued to retreat 3.28 points, or 0.70 percent, to close at 464.53.

The derivatives moved in line with spot trading, with the KOSPI 200 Futures market decreasing 0.60 point, or 0.27 percent, to 225. 39, according to the bourse operator.

The local currency rebounded against the U.S. dollar, however, recovering 6.00 to end trading at 1,190.00 won.

Bond prices closed sharply higher with the yield on three-year Treasury notes losing 0.03 percentage point to 3.54 percent.