Stocks trade flat as war and rate concerns weigh on sentiment

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Stocks trade flat as war and rate concerns weigh on sentiment

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,729.56 points on Monday, down 0.42 points, or 0.02 percent, from the previous trading day. [YONHAP]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,729.56 points on Monday, down 0.42 points, or 0.02 percent, from the previous trading day. [YONHAP]

 
Stocks closed nearly unchanged Monday, as investors remained wary about the uncertainties related to the Russian invasion of Ukraine and the hawkish stance of the U.S. Federal Reserve. The won fell against the dollar.
 
After choppy trading, the benchmark Kospi slipped 0.42 points, or 0.02 percent, to close at 2,729.56 points.
 
Trading volume was moderate at about 755 million shares worth some 9.7 trillion won ($7.9 billion), with losers outnumbering gainers 428 to 425.
 
Institutions bought a net 76 billion won, and retail investors purchased 194 billion won, while foreigners sold 274 billion won.
 
Stocks got off to a lackluster start as Ukraine-Russian tensions continue to stoke concerns about high commodity prices and inflation.
 
Investors are also bracing for the Fed's aggressive policy tightening, with multiple key officials slated to speak later this week.
 
Investors are expecting the Fed may up its policy rates sharply for the rest of this year to vent the high-flying inflation pressure.
 
Most large caps closed lower, with Samsung Electronics sliding 0.14 percent to 69,700 won and LG Chem retreating 0.57 percent to 533,000 won.
 
Naver shed 0.45 percent to 331,500 won, while Kakao closed flat at 105,000 won.
 
Battery maker LG Energy Solution lost 0.57 percent to 436,500 won. SK hynix closed unchanged at 118,000 won.
 
Carmaker Hyundai Motor added 0.29 percent to 174,500 won, while Kia declined 0.28 percent to 71,400 won.
 
Samsung Biologics advanced 0.49 percent to 823,000 won, and Celltrion inched up 1.51 percent to 168,000 won. SK Bioscience dipped 2.91 percent to 150,000 won.
 
The local currency closed at 1,227.3 won against the dollar, up 8.5 won from the previous session's close.
 
The Kosdaq retreated 7.58 points, or 0.81 percent, to close at 927.11 points.
 
Bond prices, which move inversely to yields, closed lower. The yield on three-year government bonds gained 23.9 basis points to 2.742 percent, and the yield on the benchmark 10-year government bond increased 10.4 basis points to 2.47 percent.

BY YONHAP, SHIN HA-NEE [shin.hanee@joongang.co.kr]
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