* KOSPI down as foreigners sell stocks * Won little changed amid intervention caution SEOUL, July 9 (Reuters) - South Korean shares are set for their worst day in two weeks on Wednesday as investors cut their risk exposure after weaker-than-expected earnings guidance from Samsung Electronics. The Korea Composite Stock Price Index (KOSPI).KS11 was down 0.6 percent at 1,995.44 points as of 0234 GMT, headed for its biggest percentage loss since June 25. "Samsung Electronics' guidance figures dented the credibility on earnings estimates, and given the influence of the tech giant in the market, what we're seeing is investors lowering expectations for the market as a whole," said Song Dong-heon, an analyst at Dongbu Securities. Foreign investors who purchased a net 1.5 trillion won ($1.48 billion) worth of local stocks in the past nine consecutive sessions through Tuesday, offloaded a net 98 billion won, bourse data showed. On Tuesday, Samsung Electronics Co Ltd005930.KS said operating profit for the April-June period was likely to come in at 7.2 trillion won, well below the mean forecast of 8.3 trillion won from a Thomson Reuters I/B/E/S survey.ID:nL4N0PI01A The world's biggest mobile handset maker, which accounts for 16 percent of the KOSPI, edged up 0.2 percent on short-covering. LIG Investment & Securities analyst Oh Tae-dong said investors would focus on a raft of Chinese data such as exports for any upward momentum while keeping an eye on corporate earnings. From Thursday to next week, Chinese exports, gross domestic product and industrial output0#ECONCN are due to be released. Steelmakers and shipbuilders slipped into negative territory on a cloudy earnings outlook, with Hyundai Steel Co004020.KS and Hyundai Heavy Industries Co Ltd009540.KS dropping 5.7 percent and 2 percent, respectively. In the local currency market, the wonKRW=KFTC was quoted at 1,012.2 versus the dollar as of 0234 GMT, compared with Tuesday's onshore close. On Tuesday, the won ended weaker as some traders suspected South Korean authorities of purchasing dollars to stem the currency's further strength near market close, coinciding with South Korea's nominee finance minister's remarks. Speaking at a parliamentary verification hearing session, Choi Kyung-hwan commented that fast movement in foreign exchange rates were undesirable regardless of the direction.ID:nS6N0NU01A With the won retreating from six-year highs, some market participants expect further weakness in the currency should the minutes of the June U.S. Federal Open Market Committee meeting due later support strength in the greenback. In a note to clients, Woori Futures currency analyst Son Eun-jeong wrote, "be mindful that the latest minutes can be more hawkish than Federal Reserve Chair Janet Yellen's position as there may be disagreements among committee members about inflation and interest rates hike." 0234 GMT Prev close Dollar/won 1,012.2 1,011.9 Yen/won 9.9675/606 9.9547 *KTB futures 106.58 106.55 KOSPI 1,995.44 2,006.66 * Front-month futures on three-year treasury bonds ($1 = 1012.3000 South Korean won) (Reporting by Jungmin Jang; Editing by Jacqueline Wong) ((jungmin.jang@thomsonreuters.com)(822 3704 5643)(Reuters Messaging: jungmin.jang.thomsonreuters.com@reuters.net)) Keywords: MARKETS SOUTHKOREA/
S.Korea stocks set for worst day in 2 weeks; won flat
* KOSPI down as foreigners sell stocks * Won little changed amid intervention caution SEOUL, July 9 (Reuters) - South Korean shares are set for their worst day in two weeks on Wednesday as investors cut their risk exposure after weaker-than-expected earnings guidance from Samsung Electronics. The Korea Composite Stock Price Index (KOSPI) .KS11 was down 0.6 percent at 1,9
July 9, 2014