Seoul shares drop for 3rd day ahead of US inflation data
The benchmark Korea Composite Stock Price Index lost 16.86 points, or 0.53 percent, to close at 3,189.91. The index has remained in negative territory since Friday.
Trade volume was moderate at 369.6 million shares worth 10.05 trillion won ($7.2 billion), with decliners beating gainers 547 to 343.
Foreign and institutional investors sold a net 60.05 billion won and 98 billion won worth of stocks, respectively, while individuals bought a net 63.5 billion won.
Analysts noted that investors were awaiting US consumer price data due Tuesday (US time), which could provide clues on the Federal Reserve's future interest rate path.
"Investors are waiting to see as the figures could prompt a possible rate cut by the Federal Reserve," Lee Jae-won, an analyst at Shinhan Securities Co., said, noting the US consumer price data is set to be released at 9:30 p.m. (Seoul time).
Investors are also waiting for the outcome of consultations between the government and the ruling party on scrapping earlier plans to tighten capital gains tax rules.
Energy, shipbuilding and entertainment shares led the decline.
Doosan Enerbility slumped 5.62 percent to 65,500 won, and Korea Electric Power Corp. lost 1.15 percent to 38,550 won.
Major shipyard HD Korea Shipbuilding & Offshore Engineering dropped 2.06 percent to 356,000 won, while Hanwha Ocean retreated 2.8 percent to 104,000 won.
Entertainment giant CJ ENM skidded 0.8 percent to 74,400 won, and K-pop powerhouse Hybe dipped 2.42 percent to 282,000 won.
Top-cap Samsung Electronics rose 0.14 percent to 71,100 won, with its chipmaking rival SK hynix gaining 0.75 percent to 269,000 won.
Major gamemaker NCSOFT soared 10.12 percent to 223,000 won on its better-than-expected second-quarter earnings report.
The local currency was quoted at 1,389.9 won against the greenback at 3:30 p.m., down 1.9 won from the previous session. (Yonhap)
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