중앙데일리

Markets continue retreat for a second session

Dec 27,2018
Nearly all industries on the benchmark Kospi saw declines on Wednesday as the local stock market retreated for two sessions in a row.

Shares of companies in the machinery industry fell 3.42 percent on average compared to the previous trading session, and the precision medical sector declined 3.05 percent. Construction shares dropped 2.58 percent, and the communication industry retreated 1.70 percent on average. Only the pharmaceutical industry rose, advancing 3.28 percent.

The benchmark Kospi dropped 27 points, or 1.31 percent, to close at 2,028.01.

Trading volume was moderate at 314.19 million shares worth 5.34 trillion won ($4.75 billion).

The Kospi fell as retail investors continued to dump shares for the seventh consecutive session.

Retail investors sold a net 468.1 billion won worth of shares, while foreign investors picked up a net 56.2 billion won and institutional investors scooped up a net 379.2 billion won.

Large-cap stocks fell all across the board.

Market bellwether Samsung Electronics dropped 1.16 percent to end the session at 38,350 won. No. 2 chipmaker SK Hynix also ended the session lower, edging 0.50 percent down to close at 60,100 won.

Auto-related shares fell as Hyundai Motor declined 2.44 percent to 120,000 won, and sister company Kia Motors inched 0.30 percent down to 33,400 won. Auto-parts maker Hyundai Mobis retreated 3.55 percent to 190,000 won.

Hyundai Construction & Engineering closed the session 3.91 percent lower at 51,600 won.

Telecommunications giant SK Telecom fell 2.54 percent to 269,000 won, and KT declined 1.15 percent to 30,200 won. LG U+ remained unchanged at 17,300 won.

Bio shares were winners.

Pharmaceutical giant Celltrion jumped 8.31 percent to close at 228,000 won, and Samsung pharmaceutical unit Samsung BioLogics gained 3.30 percent to 360,000 won.

The secondary Kosdaq also fell 4.05 points, or 0.60 percent, to close at 665.74. The tech and bio-heavy index was dragged down by a 5.14 percent decline in the Nasdaq on Dec. 24. Individual investors have been net sellers for the third consecutive session on the junior bourse.

The Korean won closed at 1,125.40 won against the greenback, up 0.20 won from the previous session.

Bond prices ended higher. The yield on three-year bonds fell 3.9 basis points to 1.81 percent, and the return on 10-year bonds dropped 4.2 basis points to 1.95 percent.


BY CHAE YUN-HWAN, YONHAP [chae.yunhwan@joongang.co.kr]


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