Shares dip slightly as investors wait for rates decision
Published: 29 Nov. 2023, 16:44
- KIM JU-YEON
- kim.juyeon2@joongang.co.kr
The benchmark Kospi declined 1.95 points, or 0.08 percent, to close at 2,519.81.
The Kosdaq rose 6.00 points, or 0.73 percent, to close at 822.44.
Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272.
Institutions sold a net 140.9 billion won worth of local shares to lead the bearish mode, while foreign investors scooped up a net 72.9 billion won and individuals purchased 70.5 billion won.
Experts noted that investors delayed their approach until the Bank of Korea's decision on the key rate and the U.S. personal consumption expenditure inflation data for October, both of which are slated for Thursday.
"The local stocks were affected by a wait-and-see atmosphere before the Bank of Korea's meeting and the U.S. inflation data," Choi Yoo-jun, an analyst from Shinhan Securities.
Major shares finished in mixed territory.
Samsung Electronics remained unchanged at 72,700 won and LG Electronics retreated 1.05 percent to 103,400 won.
Bank shares closed weaker as Hana Financial Group decreased 0.84 percent to 41,250 won, and KB Financial Group slid 1.34 percent to 51,700 won.
Game publishers also went south, with NCSoft losing 0.57 percent to 263,500 won and Netmarble dropping 1.51 percent to 58,900 won.
But battery makers were strong, with LG Energy Solution adding 2.76 percent to 447,000 won and Posco Future M vaulting 7.55 percent to 327,500 won.
Also among gainers was Posco Holdings, which gained 1.05 percent to 483,000 won.
Shares closed mixed for automobile manufacturers, with Hyundai dropping 0.48 percent to 184,000 won and Kia gaining 1.65 percent to 86,000 won.
The local currency ended at 1,289.6 won against the dollar, down 4.1 won from the previous session's close.
Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds dropped 9.3 points to 3.55 percent, and the return on the benchmark U.S. 10-year government bonds fell 6.7 points to reach 4.32 percent.
BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]
with the Korea JoongAng Daily
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