Market falls as investors stay cautious
The benchmark Kospi closed at 2,360.14, down 8.48 points, or 0.36 percent, from the previous trading day.
Institutional investors offloaded 296.6 billion won ($264 million) in shares, while retail investors bought 127.3 billion won worth. Foreign investors purchased 114.5 billion won in shares.
Analysts said the sluggish trading came as investors took a wait-and-see stance on the British general election, as well as the upcoming policy meeting of the European Central Bank.
Carmakers mostly closed bearish, with Hyundai Motor losing 1.55 percent to 159,000 won and Hyundai Mobis, the country’s largest auto parts maker, falling 3.81 percent to 265,000 won. Kia Motors edged up 0.26 percent to 38,850 won.
Tech shares were mixed, with Samsung Electronics decreasing 1.39 percent to 2,265,000 won, while chipmaker SK Hynix advanced 0.71 percent to 56,500 won. Home appliance manufacturer LG Electronics shed 2.29 percent to 85,300 won.
LG Display shot up 4.27 percent to 35,400 won on a rosier outlook.
Mobile carriers also closed lower, with top player SK Telecom losing 0.2 percent to 245,500 won and the second-largest KT falling 0.78 percent to 32,000 won. LG U+ edged down 0.31 percent to 16,250 won.
The secondary Kosdaq replaced a yearly high for six consecutive trading days. The Kosdaq closed at 666.46, up 4.14 points, or 0.63 percent, from the previous trading day.
The local currency closed at 1,124.00 won against the greenback, down 5.70 won.
The three-year government bond yield remained unchanged at 1.62 percent, while the 10-year figure fell one basis point to 2.16 percent.
BY KIM YOUNG-NAM, YONHAP [kim.youngnam@joongang.co.kr]
with the Korea JoongAng Daily
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