Stocks fall for second consecutive day
The benchmark Kospi declined 3.66 points, or 0.2 percent, to 2,045.12.
Foreign investors, who have been on a buying spree, purchased shares worth 99.6 billion won ($83.3 million). Individual investors bought 128.3 billion won in shares. Institutional investors, however, offset their purchases by net selling 248.6 billion won in stocks.
Still, analysts were optimistic.
By sector, semiconductors fell 1 percent while automobiles gained 0.9 percent.
Market bellwether Samsung Electronics rose 0.05 percent, or 1,000 won, to yet another record and closed at 1,862,000 won.
Chipmaker SK Hynix climbed 0.4 percent to 49,750 won. Steelmaker Posco moved upward 2.25 percent to 249,500 won while Hyundai Steel advanced 1.8 percent to 34,800, both stimulated by the rising price of iron ore. Hyundai Motor also advanced 1 percent to 152,000 won while sister company Kia Motors inched up 0.37 percent to 40,500.
Cosmetic companies, on the other hand, continue to fall with China restricting imports of Korean cosmetics. AmorePacific tumbled 1.68 percent to 293,500, its fifth straight decline. LG Household and Healthcare, parent company of The Face Shop, nudged down 0.24 percent to 848,000 won.
The secondary Kosdaq decreased for the second consecutive trading day, down 5.42 points, or 0.8 percent, to 636.73.
Kakao slipped 0.97 percent to 82,000 won and Komipharm slid 1.78 percent to 33,050.
The Korean won weakened 1.1 percent to 1,194.6 against the dollar.
Three-year treasury yields dropped one basis point to 1.65 percent while 10-year government bonds lost three basis points to 2.1 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
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