* ECB policy meeting, Comey's testimony, Britain's election
* KOSPI to gain further once the events are digested
SEOUL, June 7 South Korean shares and the won
drifted early on Wednesday with market sentiment subdued ahead
of several major events set for Thursday: A European Central
Bank policy meeting, Britain's general election, and
congressional testimony from former FBI director James Comey.
The Korea Composite Stock Price Index (KOSPI) was
down 0.1 percent at 2,366.02 points as of 0212 GMT.
The won stood at 1,120.9 against the dollar, down
0.2 percent compared to Monday's close of 1,118.3.
"Though the investors are holding positions for now, the
index is likely to continue going upward after the market
digests all those events. The events will not hurt current
fundamentals," said Kim Ye-eun, a stock analyst at Cape
Investment & Securities.
Offshore investors were set to be net buyers, purchasing
50.5 billion Korean won ($45.04 million) worth of KOSPI shares
near mid-session, while local institutions offloaded a net 149.6
billion won worth.
Shares of LG Display gained nearly 3 percent
after several analyst reports predicted strong earnings in
coming quarters. Messaging app operator Kakao Corp
also rose 2.6 percent, pushed up by expectations for better
earnings in the second half.
Decliners outnumbered advancers 423 to 353.
June futures on three-year treasury bonds were
unchanged at 109.70.
0212 GMT Prev close
Dollar/won 1,120.9 1,118.3
Yen/won 10.2337/74 10.2099
*KTB futures 109.70 109.70
KOSPI 2,366.02 2,368.62
* Front-month futures on three-year treasury bonds
(Reporting by Dahee Kim; Editing by Eric Meijer)