Stocks decline amid concerns overseas
The benchmark Kospi closed 2,368.62 on Monday, down 3.1 points, or 0.13 percent, compared to the previous trading day. Despite the closing low, the index rose to 2,376.83 in-session, a record high.
Foreign investors net purchased local shares worth 274.1 billion won ($245 million) and retail investors scooped up 21.6 billion won in stocks. Institutional investors offloaded 336.9 billion won.
By sector, construction fell 1.4 percent and chemical and energy fell 0.9 percent. Transportation and semiconductors tumbled 0.6 percent each.
Most chemical and energy companies’ shares remained in the negative terrain. LG Chem inched down 0.85 percent to 291,500 won and state-run utility Korea Electric Power Corporation retreated 1.04 percent to 43,000 won. Lotte Chemical also closed lower at 350,000 won, down 1.13 percent. S-Oil also tumbled 2.36 percent to 99,100 won.
Results were mixed for local auto companies. Hyundai Motor slid 0.92 percent to 161,500 won and its sister company Kia Motors decreased 1.15 percent to 38,750 won. Their affiliate auto parts maker Hyundai Mobis, however, gained 1.85 percent to close at 275,500 won.
Posco inched up 0.73 percent to 275,000 won and portal giant Naver climbed up 1.39 percent to 876,000 won. LG Electronics also went up 0.81 percent to 87,300 won.
The secondary Kosdaq extended its rally into a fifth trading day, up 3.54 points, or 0.54 percent, to 662.32.
Celltrion advanced 1.77 percent to 97,800 won. Messenger app operator Kakao jumped 3.67 percent to 104,500 won.
The local currency closed at 1,118.30 won against the greenback, up 3.5 won from the previous session.
The yield on the three-year government bond shed one basis point to 1.62 percent. Return on 10-year bonds shed three basis points at 2.18 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)