August 4, 2017 / 2:55 AM / 16 days ago

S.Korea stocks pull away from lows, but on track for losing week

    * KOSPI edges up; foreign selling caps additional gains
    * Won rises as dollar weakens on U.S. political turmoil

    SEOUL, Aug 4 (Reuters) - South Korean shares edged away from
the previous session's four-week lows in early trade on Friday
as the recently battered construction sector rose, though gains
were seen limited as foreign investors continued to sell tech
shares.     
    The Korea Composite Stock Price Index (KOSPI)         was up
0.2 percent at 2,392.20 points as of 0215 GMT, after it skidded
1.7 percent on Thursday. It was still on track for its second
straight losing week, down 0.3 percent. 
    "Foreign investors are continuing to sell in South Korea's
IT sector following U.S. tech shares' slump overnight," said Seo
Sang-young, a stock analyst at Kiwoon Securities in a note.  
    Offshore investors sold a net 20.3 billion won ($18.03
million) worth of KOSPI shares near mid-session. 
    Chipmaker SK Hynix             lost 1.9 percent.
    The construction sector        , a major contributor to the
KOSPI's big drop on Thursday, was up 1.5 percent. GS
Construction             gained 3.3 percent and Hyundai
Engineering & Construction             rose 2.3 percent. 
    Other market heavyweights, such as Posco             and
Hyundai Motor            , each rose more than 1 percent. 
    Advancing issues slightly outnumbered declining ones 403 to
385.
    The South Korean won        also rose after three losing
sessions, as the dollar was pressured by the U.S political
uncertainties regarding Russian interference in the 2016
presidential election.             
    The won            edged up 0.3 percent against the dollar
to 1,125.7 compared to the previous close of 1,128.8.
    September futures on three-year treasury bonds        
gained 0.04 point to 109.34. 
    
                       0215 GMT    Prev close
 Dollar/won             1,125.7       1,128.8
 Yen/won             10.2225/89       10.2485
 *KTB futures            109.34        109.30
 KOSPI                 2,392.20      2,386.85
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim; Editing by Lisa Twaronite)
  

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