Market flat as foreign investors cash in
The benchmark Kospi closed at 2,361.83, up 0.18 points, or 0.01 percent, over its previous close.
Foreign investors net sold Korean shares worth 150 billion won ($132.3 million). This, however, was offset by institutional investors and retail investors, who scooped up 48.7 billion won and 51.2 billion won in stock.
“The local market is facing downward momentum affected by the slump in the U.S. market. However, the effect was limited as there was an inflow due to a buying spree,” said Seo Sang-young, a researcher at Kiwoom Securities.
Most major tech companies remained in negative terrain. Market bellwether Samsung Electronics slipped 0.22 percent to 2,279,000 won. Chipmaker SK Hynix fell 0.17 percent. LG Electronics tumbled 1.37 percent to 86,100 won. Samsung SDS fell 1.84 percent to 160,000 won, its third straight loss.
Samsung Life Insurance shed 1.27 percent to 116,500 won.
While auto parts manufacturer Hyundai Mobis inched down 0.57 percent to 263,000 won, Hyundai Motors gained 1.23 percent to 165,000 won. Sister company Kia Motors climbed up 1.15 percent to 39,750 won. Naver rose 0.79 percent to 892,000 won. Leading steel maker Posco edged up 0.92 percent to close at 274,500 won. SK Innovation added 1.6 percent. But SK Telecom remained fixed at 242,000 won. Cosmetics company AmorePacific and Samsung BioLogics also stayed flat at 319,000 won and 240,000 won each.
The secondary Kosdaq continued to fluctuate, up 0.88 points, or 0.13 percent, compared to the previous session to 670.70.
Top market cap Celltrion grew 1.66 percent to close at 104.300 won but Kakao dropped 2.46 percent to 102.900 won.
The local currency closed at 1,134.1 won against the greenback, down 10 won from the previous session’s close.
The yield on three-year government bond moved up one basis point to 1.7 percent. The return on 10-year bonds added three basis points to 2.15 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
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