Stocks drop as Omicron continues to weigh on sentiment

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Stocks drop as Omicron continues to weigh on sentiment

Published: 27 Dec. 2021, 17:10

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,999.55 points on Monday, down 12.88 points, or 0.43 percent, from the previous trading day. [YONHAP]

Shares closed lower Monday on profit taking amid lingering concerns over the spread of the Omicron variant. The local currency fell against the dollar.

The benchmark Kospi fell 12.88 points, or 0.43 percent, to 2,999.55 points.

Volume was moderate at about 462.9 million shares worth some 8.13 trillion won ($6.8 billion), with gainers outnumbering losers 446 to 405.

Individuals sold a net 522 billion won of stocks. Institutions and foreigner net purchased 420 billion won and 46 billion won, respectively.

The Kospi ended in negative territory but didn't fall sharply, helped by the slowing pace of dollar strengthening, increased dollar-denominated deals of local exporters and a positive business outlook in the semiconductor and automobile industries next year, analysts said.

Most large-cap stocks declined.

Samsung Electronics fell 0.37 percent to 80,200 won, and chipmaker SK hynix dipped 1.56 percent to 126,000 won.

Naver dropped 0.91 percent to 380,500 won, and Kakao slumped 1.31 percent to 113,000 won.

Hyundai Motor dropped 0.93 percent to 213,500 won, and its sister company Kia edged down 0.35 percent to 84,800 won.

Chemical firm LG Chem rose 0.9 percent to 627,000 won, and battery maker SK Innovation climbed 0.2 percent to 224,000 won.

Pharmaceutical firm Samsung Biologics added 0.11 percent to 886,000 won, and Celltrion rose 1.49 percent to 204,000 won.

Game publisher NCSoft increased 0.15 percent to 657,000 won, while Krafton fell 2.7 percent to 450,500 won. Netmarble gained 0.41 percent to 121,500 won.

KakaoBank slipped 1.5 percent to 59,300 won, and payment service Kakao Pay lost 0.3 percent to 168,500 won.

The Kosdaq gained 3.94 points, or 0.39 percent, to close at 1,001.36 points.

The local currency closed at 1,186.80 won against the dollar, up 0.2 won from the previous session's close.

Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds lost 2.6 basis points to 1.776 percent, and the yield on the benchmark 10-year government bond added 4 basis points to 1.49 percent.

BY LEE TAE-HEE, YONHAP [lee.taehee2@joongang.co.kr]