Seoul stocks down 0.28 percent on dollar appreciation

Home > Business > Finance

print dictionary print

Seoul stocks down 0.28 percent on dollar appreciation

Electronic signboards in a Hana Bank dealing room in Seoul show the Kospi closing at 3,061.42 on March 31, 2021, down 8.58 points, or 0.28 percent, from the previous session's close. [YONHAP]

Electronic signboards in a Hana Bank dealing room in Seoul show the Kospi closing at 3,061.42 on March 31, 2021, down 8.58 points, or 0.28 percent, from the previous session's close. [YONHAP]

  
Stocks retreated Wednesday on the increase in the value of the U.S. currency and the valuation pressure of local stocks. The won rose against the dollar.
  
The benchmark Kospi fell 8.58 points, or 0.28 percent, to close at 3,061.42 points.
 
Trading volume was moderate at about 1.1 billion shares worth some 14.2 trillion won ($12.5 billion), with gainers outnumbering losers 476 to 378.
  
Foreigners sold a net 295 billion won, while retail investors purchased 641 billion won. Institutions offloaded a net 347 billion won.
 
After a choppy start, the Kospi peaked near the 3,100-point mark in the morning, as foreigners bought on expectations of a U.S. stimulus plan set to be unveiled later this week.
  
Stocks dipped in the last hour of trading, however, as foreigners turned to net selling on increased valuation pressure and concerns over the yield hike in U.S. 10-year Treasury notes.
  
"The appreciation in dollar and the increase in the U.S. Treasury yields seem to have weakened the Kospi's performance," Kiwoom Securities analyst Kim Yoo-mi said.
  
By sector, financials and telecommunications performed well, while tech and auto slumped.
  
Samsung Electronics lost 0.97 percent to 81,400 won, and SK hynix shed 1.49 percent to 132,500 won.
  
Naver edged up 0.13 percent to 377,000 won, with Kakao moving up 0.91 percent to 498,000 won. 
 
Online game maker NCSoft rose 3.31 percent to 873,000 won, and Netmarble gained 1.57 percent to 129,000 won. 
  
Samsung Biologics inched up 0.13 percent to 748,000 won, and Celltrion advanced 0.31 percent to 324,500 won. 
  
Chemical firm LG Chem retreated 0.37 percent to 805,000 won. automaker Hyundai Motor declined 0.68 percent to 218,000 won. KIA moved down 1.66 percent to 82,900 won. 
  
Shipping company HMM gained 3.2 percent to 29,000 won. 
  
The Kosdaq lost 1.89 points, or 0.20 percent to close at 956.17.
  
The local currency closed at 1,131.8 won against the dollar, down 1.8 won from the previous session's close.
  
Bond prices, which move inversely to yields, closed mixed. The yield on the three-year bond lost 2.2 basis points to close at 1.133 percent, and the yield on the 10-year bond added 0.7 basis points to close at 1.72 percent.
 
BY LEE TAEHEE, YONHAP [lee.taehee2@joongang.co.kr] 
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now