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Kospi down 0.27% as investors lock in profits

Published: 27 May. 2025, 17:06

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,637.22 points on May 27, down 7.18 points, or 0.27 percent, from the previous trading session. [YONHAP]

Shares finished lower Tuesday as investors moved to lock in profits from recent gains amid lingering concerns about the United States' tariff scheme. The won's value fell against the dollar.

The Kospi lost 7.18 points, or 0.27 percent, to close at 2,637.22.

Trade volume was moderate at 315.52 million shares worth 7.81 trillion won ($5.71 billion), with losers beating winners 514 to 361.

Foreigners and institutions sold a net 75.92 billion won and 19.97 billion won worth of stocks, respectively, while individuals bought 53.42 billion won worth of shares.

The index opened lower and stayed in negative territory following a sharp increase the previous session on news that U.S. President Donald Trump said he would delay imposing 50 percent tariffs on imports from the European Union until July 9.

But concerns linger over the U.S. tariff policies, as Trump threatened to roll out 25 percent tariffs by the end of next month on smartphones made by Apple, Samsung Electronics and other companies if they are not manufactured in the United States.

U.S. stock markets were closed Monday in observance of Memorial Day.

In Seoul, most big-cap tech shares lost ground.

Market bellwether Samsung Electronics lost 1.46 percent to 53,900 won, and its rival SK hynix shed 0.25 percent to 202,500 won.

Major battery maker LG Energy Solution sank 1.98 percent to 272,500 won, and No. 1 steelmaker Posco Holdings tumbled 1.86 percent to 237,000 won.

Leading biotech firm Samsung Biologics declined 1.63 percent to 1.03 million won, and leading financial firm KB Financial inched down 0.1 percent to 101,900 won.

Top carmaker Hyundai Motor remained unchanged at 181,900 won, while its sister Kia edged up 0.11 percent to 88,200 won.

But defense giant Hanwha Aerospace surged 6.48 percent to 887,000 won, and major biopharmaceutical Celltrion advanced 1.7 percent to 155,600 won.

The local currency was quoted at 1,369.5 won against the greenback at 3:30 p.m., down 5.1 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 0.8 basis points to 2.34 percent, and the return on the benchmark five-year government bonds fell 2.6 basis points to 2.748 percent.

Yonhap