Shares slip amid uncertainty overseas
The benchmark Kopsi fell 2.77 points, or 0.12 percent, to close at 2,344.61 Thursday.
Foreigners and institutional investors offloaded shares worth 21.3 billion won ($18.9 million) and 100.9 billion won each. Retail investors, on the other hand, scooped up 74.6 billion won in local shares.
“Foreigners are taking a conservative stance for a short term ahead of the biggest event in June, the Federal Open Market Committee’s policy meeting,” said Bae Sung-young, a market analyst at KB Securities.
Market bellwether Samsung Electronics inched down 0.04 percent to close at 2,234,000 won while SK Hynix tumbled 1.05 percent to 56,400 won. Naver fell 0.36 percent to 842,000 won. Amore Pacific slipped 1.6 percent to 337,500 won, LG Electronics slid 1.45 percent to 81,300 won as Samsung SDI plunged 4.23 percent to 158,500 won.
Auto shares closed mixed.
While auto parts maker Hyundai Mobis slid 0.55 percent to 273,000 won, Hyundai Motor gained 1.53 percent to 165,500 won. Its sister company Kia Motors rose 1.28 percent to 39,550 won. Top battery maker LG Chem inched up 0.33 percent to 303,000 won. Korea Electric Power Corporation jumped 3.04 percent to 44,000 won.
The secondary Kosdaq rallied for a third day Thursday, rising 1.79 points, or 0.27 percent, to 653.83, its highest level this year.
Kakao remained fixed at 98,800 won but SK Materials increased 1.58 percent to 199,500 won. Pharmaceutical company Medytox nudged up 0.48 percent on 524,500 won. CJ E&M, CJ’s entertainment unit, went down 0.38 percent to 78,300 won.
The local currency closed at 1,122.00 won against the greenback, down 2.5 won from the previous session’s close.
The yield on three-year government bond decreased two basis points to 1.65 percent. Return on 10-year bond also shed two basis points to 2.21 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
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