Bourse declines as investors play it safe
The benchmark Kospi closed at 2,372.64, down 2.06 points, or 0.09 percent, from the previous trading day.
Retail investors bought 52.7 billion won ($46.8 million) in shares and foreign investors purchased 33.5 billion won worth. Retail investors, meanwhile, sold 133.3 billion won in shares.
The local market opened higher on overnight Wall Street gains fueled by tech shares. The S&P 500 increased 2.45 percent to finish at a record high and the Dow Jones industrial average was up 0.44 percent. The Nasdaq Composite Index gained 0.73 percent.
“The Korean market did open higher. However, investors took to profit-taking, and the rise was limited after the release of economic data in China and weak oil prices,” said Seo Sang-young, a researcher at Kiwoom Securities.
Tech shares were mixed, with Samsung Electronics ending at 2,268,000 won, down 0.09 percent from the previous session. Global chipmaker SK Hynix, however, added 0.85 percent to end at a record-high 59,300 won.
Chemical shares closed bearish, with LG Chem falling 3.93 percent to 281,000 won and Amore Pacific losing 0.47 percent to 319,000 won. S-Oil also lost, dropping 1.34 percent to 95,800 won.
Auto shares, meanwhile, closed higher, with Hyundai Motor gaining 2.74 percent to 169,000 won. Kia Motors, added 2.3 percent to end at 40,100 won and auto parts maker Hyundai Mobis was up 0.95 percent to 266,000 won.
Samsung BioLogics lost 0.61 percent to 243,500 won.
The secondary Kosdaq closed at 671.59, up 2.36 points, or 0.35 percent, from the previous trading day.
Celltrion rose 2.9 percent to close at 102,800 won, while Kakao dropped 0.47 percent to 106,400 won.
The local currency closed at 1,123.9 won against the dollar, up 4.4 won from the previous close. kim.youngnam@joongang.co.kr
BY KIM YOUNG-NAM, YONHAP [kim.youngnam@joongang.co.kr]
with the Korea JoongAng Daily
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