Seoul shares snap 2-day rise on profit-taking
Seoul shares closed lower Thursday, snapping a two-day advance, as investors offloaded stocks to lock in recent gains. The Korean won rose against the US dollar.
The benchmark Korea Composite Stock Price Index fell 28.69 points, or 0.92 percent, to close at 3,079.56.
Trade volume was moderate at 451.12 million shares worth 16.62 trillion won ($12.2 billion), with decliners outnumbering gainers 724 to 180.
Foreigners and institutions sold a combined 843.24 billion won worth of stocks, while individuals bought a net 833.55 billion won of stocks.
Overnight, US stocks ended mixed amid easing tensions in the Middle East following a ceasefire between Israel and Iran, and growing expectations of interest rate cuts by the US Federal Reserve amid pressure from President Donald Trump.
The Dow Jones Industrial Average fell 0.25 percent but the tech-heavy Nasdaq Composite rose 0.31 percent.
In Seoul, large-cap stocks were mixed.
Market bellwether Samsung Electronics fell 1.79 percent to 60,200 won, top carmaker Hyundai Motor declined 3.46 percent to 209,500 won and leading battery maker LG Energy Solution shed 0.34 percent to 297,000 won.
Leading steelmaker POSCO Holdings fell 0.74 percent to 267,500 won and leading shipbuilder HD Hyundai dropped 2.24 percent to 126,700 won.
Among gainers, Korea Aerospace Industries rose 5.34 percent to 94,700 won and state-run utility firm Korea Electric Power Corp. climbed 7.27 percent to 40,600 won.
Chip giant SK hynix jumped 2.45 percent to 293,000 won and Samyang Foods, known for its globally popular Buldak spicy ramyeon, was up 1.54 percent to 1,319,000 won.
The local currency was trading at 1,356.90 won against the greenback at 3:30 p.m., up 5.5 won from the previous session. (Yonhap)
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