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Kospi closes lower Tuesday as investors wait for new leads

Published: 05 Sep. 2023, 17:17

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,582.18 points on Tuesday, down 0.09 percent, or 2.37 points, from the previous trading session. [YONHAP]

The Kospi closed lower Tuesday to end a two-day winning streak as investors went profit taking while waiting for additional hints on the global market's trend going forward. The won fell sharply against the dollar.

The benchmark index shed 2.37 points, or 0.09 percent, to close at 2,582.18.

Trading volume was a bit slim at 377.33 million shares worth 7.36 trillion won ($5.54 billion), with losers outpacing gainers 537 to 337.

Institutions and retail investors sold a net 148.33 billion won and 29.06 billion worth of shares, respectively, while foreigners bought a net 148.58 billion won worth of shares.

The bourse opened a tad lower and showed lackluster moves on the lack of fresh leads.

Earlier in the day, Korea's annual consumer inflation accelerated to 3.4 percent in August due to higher prices of agricultural and manufactured goods.

Investors now await messages from Boston Fed President Susan Collins and New York Fed President John Williams for hints on the U.S. Federal Reserve's future policy direction during public events later this week.

In Seoul, top-cap shares traded mixed.

Samsung Electronics shed 0.7 percent to 70,700 won following recent gains, while SK hynix climbed 0.2 percent to 119,400 won.

LG Energy Solution rose 1.1 percent to 536,000 won and LG Chem added 1 percent to 592,000 won.

Samsung SDI grew 1 percent to 616,000 won and Posco Holdings advanced 1.2 percent to 597,00 won.

Naver gained 0.2 percent to 212,000 won while Kakao retreated 0.4 percent to 48,900 won.

Carmakers fell, with Hyundai Motor dropping 0.4 percent to 186,600 won and Kia sinking 1.12 percent to 79,100 won.

LG Electronics slid 0.3 percent to 102,200 won and SK Innovation lost 0.4 percent to 178,800 won.

The local currency ended at 1,330.6 won against the dollar, up 10.8 won from the previous session's close.

Bond prices, which move inversely to yields, closed lower. The yield on three-year government bonds rose 2.1 basis points to 3.8 percent, and the yield on the benchmark 10-year government bonds jumped 7.5 basis points to 4.2 percent.

BY SOHN DONG-JOO, YONHAP [[email protected]]