Investors await Trump’s inauguration
The benchmark Kospi fell 7.18 points, or 0.35 percent, to close at 2,065.61 on Friday.
Foreign investors offloaded shares worth 48.3 billion won ($41.3 million) Friday while institutional investors and individuals purchased 40.7 billion and 5.1 billion won each in shares. Analysts said overall market activities were sluggish on Friday as investors were waiting to see how the U.S. market will react to Trump’s inauguration.
“Investors are apparently awaiting Trump’s inauguration speech,” said Kim Yong-koo, an analyst at Hana Financial Investment & Securities. “They are taking a wait-and-see attitude.”
Samsung Electronics shed 0.75 percent to close at 1,860,000 won while chipmaker SK Hynix inched down 0.91 percent to 49,150 won. Naver, Korea’s portal giant, lost 2 percent to 785,000 won and steel giant Posco slipped 1.8 percent to 273,000 won. Kia Motors slid 2.57 percent to 39,750.
While its sister company saw losses, Hyundai Motor gained 0.66 percent to close at 153,000 won. Its affiliate auto parts maker Hyundai Mobis inched up 0.54 percent to 278,500 won. Cosmetics leader AmorePacific grew 2.57 percent to close at 319,000 won.
The secondary Kosdaq fell for the second straight day, declining 4.07 points, or 0.65 percent, to 622.12. Foreigners and institutions led the fall, offloading shares worth 25.4 billion won and 10.5 billion won.
Pharmaceutical firm Celltrion remained unchanged at 100,500 as Kakao, the messenger app operator, dropped 2.31 percent to 80,400 won. Meditox also went down 1.25 percent to 411,100 won.
CJ E&M, CJ’s media and entertainment unit, continued its rally and advanced 1.72 percent to 88,700 won.
The Korean won weakened 0.7 percent to 1,169.2 on the dollar.
Three-year government bond lost two basis points to 1.66 percent and 10-year government bonds dropped four basis points to 2.13 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
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