SEOUL, Oct 31 (Reuters) - South Korean shares slid sharply on Thursday, a day after hitting a 27-month closing high, as sentiment chilled after the U.S. Federal Reserve's latest policy outlook, with selling by foreign investors adding to downward pressure.
The Korea Composite Stock Price Index (KOSPI) closed down 1.4 percent at 2,030.09 points on Thursday, its sharpest single-day fall since Aug.20.
Still, KOSPI finished the month of October with a 1.7 percent rise, marking a fourth straight winning month.
Foreigners sold a net 89 billion won ($83.94 million) worth of local shares on Thursday, snapping a record net buying streak at 44 sessions. From Aug. 23 through Wednesday, foreigners had purchased a net 13.9 trillion won.
Large caps weighed on the main index, with Samsung Electronics Co Ltd, the largest component in the KOSPI, falling 2.3 percent. Hyundai Motor Co and Naver Corp declined 3.1 percent and 5.2 percent, respectively, as investors locked in profits from recent gains.
($1 = 1,060.2750 Korean won) (Reporting by Jungmin Jang; Editing by Kim Coghill)