Seoul: South Korean stocks fell for the third consecutive session Friday, led by tech share losses. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 13.79 points, or 0.54 percent, to close at 2,542.36, extending its losing streak from Wednesday.

According to Yonhap News Agency, trading volume was light at 315.1 million shares worth 7.8 trillion won (US$5.66 billion), with decliners outnumbering gainers 599 to 288. Foreign investors and institutions sold off a net 38.8 billion won and 188.4 billion won, respectively, while individual investors purchased a net 214.4 billion won.

Overnight, U.S. stocks finished sharply lower, with the Dow Jones Industrial Average declining 0.9 percent and the Nasdaq Composite dropping 2.8 percent after a disappointing outlook from major companies such as Meta Platforms and Microsoft. In Seoul, tech shares led the downturn.

Samsung Electronics, the world’s largest memory chip maker, saw its shares fall 1.52 percent t
o 58,300 won, while SK hynix retreated 2.2 percent to 182,200 won. Top online portal operator Naver dropped 0.18 percent to 169,700 won, and industry rival Kakao declined 2.17 percent to 36,150 won. Leading retailer Shinsegae skidded 2.41 percent to 150,100 won, and entertainment giant CJ ENM decreased 2.23 percent to 61,500 won.

In contrast, battery shares ended in positive territory. Industry leader LG Energy Solution rose 1.23 percent to 412,500 won, and POSCO Future M added 1.56 percent to 228,000 won. Korea Zinc, grappling with an intensifying management battle, increased 0.6 percent to 1 million won, while SK Innovation surged 3.75 percent to 121,800 won following its merger with affiliate SK E and S.

The local currency was trading at 1,379.4 won against the U.S. dollar as of 3:30 p.m., up 0.5 won from the previous session. Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasurys added 0.3 basis point to 2.939 percent, while the return on the benchmark five-year gov
ernment bonds dropped 0.3 basis point to 2.995 percent.