Kospi slides again by 0.25% with mixed results for big-cap shares

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,613.80 points on Thursday, down 0.25 percent, or 6.62 points, from the previous trading session. [YONHAP]

Shares closed lower Thursday as investors attempted to cash in recent gains.

The Kospi fell 6.62 points, or 0.25 percent, to close at 2,613.80.

Trade volume was moderate at 607.8 million shares worth 10.25 trillion won ($7.68 billion), with decliners outnumbering gainers 539 to 330.

Foreigners and institutions sold stocks worth 14.8 billion won and 49.3 billion won, respectively, while individuals purchased a combined 29.7 billion won.

Overnight, the U.S. stock market gained ground after a sharp decline the previous day sparked by hotter-than-expected inflation data for January, which threw cold water on expectations that the U.S. Federal Reserve will start cutting interest rates this year, but investors were placated by dovish comments from the central bank.

The Fed's Bank of Chicago President Austan Goolsbee has said inflation may come in a bit higher for a few months but will still be consistent with a path back to the central bank's two-percent goal.

In Seoul, big-cap shares, led by techs and autos, ended mixed.

Samsung Electronics fell 1.35 percent to 73,000 won. SK hynix was flat at 148,700 won.

Hyundai Motor dropped 2.24 percent to 240,000 won, while Kia plunged 3.49 percent to 113,500 won.

Samsung Biologics retreated 0.85 percent to 821,000 won. Celltrion lost 0.87 percent to 182,600 won.

Financial shares also lost ground, with Shinhan Financial Group dropping 1.83 percent to 43,000 won and Hana Financial Group going down 0.75 percent to 53,000 won.

Battery and IT shares, however, ended in positive terrain.

LG Energy Solution advanced 1.93 percent to 395,500 won, and Posco Future M jumped 5.25 percent to 300,500 won.

Naver rose 0.49 percent to 203,500 won and Kakao shot up 7.83 percent to 59,200 won on record sales in the fourth quarter.

The Kosdaq climbed 5.91 points, or 0.69 percent, to close at 859.21.

The local currency closed at 1,334.00 won against the greenback, down 1.4 won from the previous session's close.

Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds fell 2.5 basis points to 3.404 percent, and the return on the U.S.' benchmark 10-year government bonds fell 6.4 basis points to 4.251 percent.

BY LEE SOO-JUNG, YONHAP [lee.soojung1@joongang.co.kr]