Kospi ends down 0.65% as market waits for Fed

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Kospi ends down 0.65% as market waits for Fed

A screen in Hana Bank's trading room in central Seoul shows the stock market prices as it opens on Tuesday. [YONHAP]

A screen in Hana Bank's trading room in central Seoul shows the stock market prices as it opens on Tuesday. [YONHAP]

 
Stocks ended lower on Tuesday ahead of the release of the minutes from the U.S. Federal Reserve's latest monetary policy meeting. The local currency fell against dollar.
 
The Kospi shed 17.96 points, or 0.65 percent, to close at 2,724.18.
 
Trade volume was moderate at 547.5 million shares worth 10.02 trillion won ($7.3 billion), with losers beating winners 585 to 290.
 
Individual investors purchased a net 501.7 billion won worth of local shares, while foreigners sold 165.3 billion won and institutions dumped 328.4 billion won.
 
Institutions purchased a net 397.5 billion won worth of local shares to push up the index, while individual investors sold a net 365.6 billion won and foreigners dumped a net 30 billion won.
 
Overnight, major U.S. stock indexes closed mixed, with the tech-heavy Nasdaq Composite up 0.7 percent to hit a record high on a chip rally and S&P 500 up 0.1 percent, while the Dow Jones Industrial Average ended 0.5 percent lower.
 
Experts said investors remained cautious while awaiting the first quarter earnings report by artificial intelligence chip giant Nvidia and the minutes of the Fed's May meeting on Wednesday.
 
In Seoul, most big-cap shares ended in the negative territory.
 
Samsung Electronics lost 0.63 percent to 78,400 won, while SK hynix gained 1 percent to 192,000 won.
 
LG Energy Solution slid 2.02 percent to 364,500 won, and Samsung SDI and Posco Future M both plunged 2.95 percent to 411,500 won and 263,000 won, respectively.
 
Posco Holdings retreated 1.87 percent to 393,500 won, and LG Chem dropped 1.79 percent to 384,500 won.
 
Auto shares were mixed.
 
Hyundai Motor added 1 percent to 253,000 won, but Kia went down 0.44 percent to 114,400 won.
 
IT services company Samsung SDS jumped 4.99 percent to 166,100 won.
 
The local currency ended at 1,363.30 won against the greenback, up 7.4 won from the previous session's close.
 
The Kosdaq dropped 0.57 points, or 0.07 percent, to close at 846.51.
 
Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds fell 0.6 basis points to 3.41 percent, and the return on benchmark U.S. 10-year government bonds gained 2.4 basis points to 4.446 percent.

BY CHOI HAE-JIN, YONHAP [[email protected]]
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