Market slips in foreign investor sell-off
The benchmark Kopsi tumbled 12.62 points, or 0.61 percent, to 2,064.17.
Foreign investors offloaded shares worth 246.5 billion won ($208.8 million). On the contrary, institutional investors scooped up 184.8 billion won in shares while individuals bought 39.7 billion won in stocks.
Market bellwether Samsung Electronics slid on Monday 2.14 percent to end at 1,833,000 won. Investors sold off the tech giant’s shares ahead of the arrest of the company’s de facto head Lee Jae-yong on charges of bribery, embezzlement and perjury in connection to the Blue House scandal. Chipmaker SK Hynix fell 1.99 percent to 49,300 won and LG Chemicals shed 1.59 percent to 278,500 won.
Some large-cap shares still managed to gain. Hyundai Motor, the nation’s top auto maker, inched up 1.01 percent to 150,500 won and Naver, the nation’s portal giant, edged up 0.51 percent to 794,000 won. Cosmetic company AmorePacific, whose share price has tumbled this year due to China’s ban on Korean cosmetic products, rose 2.23 percent to 321,500 won.
The secondary Kosdaq also fell on Monday, down 6.8 points, or 1.07 percent, to 627.88, the first time the index dropped below 630 level in two weeks.
Pharmaceutical company Celltrion slipped 0.58 percent to 102,100 won and Kakao, a messenger app provider, dropped 1.55 percent to 82,600 won. Meanwhile, CJ E&M, CJ’s media and entertainment unit climbed 1.04 percent to 77,800 won. Medytox jumped 4.78 percent to 422,900 won, reflecting positive market sentiment over its plans for a new factory in Osong, North Chungcheong.
The local currency strengthened 0.6 percent to 1,182.1 won against the dollar.
Three-year government bond yields went down one basis point to 1.63 percent and the 10-year treasury rose two basis points to 2.12 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
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