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Kospi breaks three-day rally as investors go profit taking

Published: 15 May. 2025, 17:41

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,621.36 points on May 15, down 5.82 points, or 0.79 percent, from the previous trading session. [NEWS1]

Shares snapped a three-session winning streak Thursday as investors locked in profits amid eased tariff woes. The local currency sharply rose in value against the dollar.

The benchmark Kospi fell 19.21 points, or 0.73 percent, to close at 2,621.36. The Kosdaq fell 5.82 points, or 0.79 percent, to 733.23.

The index had risen from Monday to Wednesday on optimism driven by a trade agreement between the United States and China earlier this week.

Trade volume was moderate at 333.4 million shares worth 7.13 trillion won ($5.13 billion), with losers beating winners 592 to 296.

Institutions led the decline, dumping a net 385.8 billion won, while offshore investors bought a net 264.4 billion won and individuals scooped up a net 71.7 billion won.

Most major shares ended lower across the board.

Chipmakers were among the biggest losers as Samsung Electronics fell 0.17 percent to 57,300 won, and SK hynix lost 2.67 percent to 200,500 won.

Top carmaker Hyundai Motor sank 2.13 percent to 192,900 won, and its sister Kia dropped 1.3 percent to 91,200 won.

Leading pharma Celltrion declined 0.52 percent to 153,500 won, and instant noodle producer Nongshim dipped 1.66 percent to 415,000 won.

However, retail giant Shinsegae rose 2.06 percent to 168,400 won after its Chairman Chung Yong-jin met with U.S. President Donald Trump in Qatar.

The local currency was quoted at 1,394.5 won against the greenback at 3:30 p.m., up 25.7 won from the previous session.

The won has been on a steep rise since Wednesday evening following news reports that Korean and U.S. officials held face-to-face discussions about their foreign exchange market policies last week.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 1.1 basis points to 2.362 percent, and the return on the benchmark five-year government bonds increased 1.4 basis points to 2.496 percent.

Yonhap