SEOUL: Seoul shares concluded Tuesday’s trading session on a lower note, influenced by substantial selling in major stocks such as Samsung Electronics, following a downturn on Wall Street. The Korean won also continued its downward trajectory against the U.S. dollar for the seventh consecutive day.
According to Yonhap News Agency, the Korea Composite Stock Price Index experienced a decline of 34.22 points, or 1.3 percent, closing at 2,570.70. This movement was driven by significant sales from institutions and foreign investors, who offloaded a combined total of 602 billion won (approximately US$436 million) in stocks, surpassing the 582 billion won in stock purchases by individual investors.
Trading volume was moderate, with 337.43 million shares changing hands, valued at 8.75 trillion won. The market saw 688 stocks declining compared to 195 that gained. The previous night’s performance on Wall Street saw the Dow Jones Industrial Average decrease by 0.8 percent to 42,931.60, while the Nasdaq Composite Index
rose by 0.3 percent to 18,540.01.
In the Seoul market, large-cap stocks presented mixed results. Samsung Electronics Co., a market leader, dropped 2.2 percent, hitting a 52-week low at 57,700 won. Hyundai Motor Co. saw a decline of 1.1 percent to 234,500 won, LG Energy Solution Ltd. decreased by 2.1 percent to 381,500 won, and Korean Air Co. fell 0.2 percent to 23,550 won.
Conversely, some companies recorded gains. Korea Electric Power Corp. rose by 2.6 percent to 21,800 won, SK Telecom Co. climbed 2.1 percent to 57,500 won, and Hyundai Mobis Co. increased by 1.4 percent to 247,500 won.
The local currency weakened further, trading at 1,380.10 won against the U.S. dollar at 3:30 p.m., marking a decrease of 4.9 won from the previous session and continuing its losing streak for the seventh day.