Shares opened lower Tuesday bucking continued bullish runs on Wall Street, amid lingering uncertainties over the impact of the new Trump administration's policies on the domestic industry.
The benchmark Kospi lost 29.49 points, or 1.15 percent, to close at 2,531.66 with investors concerned about the effects of policies under the incoming Donald Trump administration.
Foreign investors sold off Korean stocks for the third consecutive month in October, data showed Friday.
Shares opened sharply higher, tracking overnight gains on Wall Street, after the U.S. Federal Reserve lowered its benchmark interest rate by a quarter-percentage point. The Korean won also sharply gained against the greenback.
The Kospi added 1.12 points, or 0.04 percent, to 2,564.63 as investors reacted to expectations of the incoming Donald Trump administration.
Coupang CEO Bom Kim will sell 15 million shares valued at $356.3 million after disappointing earnings, with plans to donate 2 million.
Korean shares declined for a second consecutive day, with the Kospi and Kosdaq falling as investors remained cautious ahead of the U.S. presidential election.
The Kospi rose 46.61 points, or 1.83 percent, to close at 2,588.97 with a rare bipartisan agreement to scrap the implementation of a capital gains tax.
The benchmark Kospi lost 13.79 points, or 0.54 percent, to close at 2,542.36 as Samsung Electronics, SK hynix and Kakao all lost over 1.5 percent.
Shares opened slightly lower Friday as Wall Street experienced a sharp drop on weaker-than-expected earnings from tech heavyweights.
Korea JoongAng Daily Sitemap
