Seoul shares pare gains late Monday morning on foreign selling
Korean shares pared earlier gains late Monday morning as foreign investors continued to sell big-cap tech shares despite bargain hunting by retail and institutional investors. After opening 0.76 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) added 25.15 points, or 0.4 percent, at 6,283.92 as of as of 11:20 a.m. Foreign investors sold nearly 619.7 billion won ($437.8…
South Korean stock markets saw a slight dip on Monday morning as foreign investors continued to sell shares in large-cap technology companies, despite some bargain hunting by retail and institutional investors. The Korea Composite Stock Price Index (KOSPI), which had opened higher by 0.76 percent, closed at 6,283.92 points, marking a 0.4 percent increase, by 11:20 a.m. Local time.
Foreign investors sold approximately 619.7 billion won ($437.8 million), counteracting a combined 598.2 billion won worth of purchases made by retail and institutional investors. The KOSPI experienced its second consecutive day of decline on Friday, largely due to foreign selling. Wall Street, on the other hand, showed gains following positive U.S. job reports, with the Dow Jones Industrial Average rising 0.28 percent and the S&P 500 adding 0.62 percent to set a new record high.
The tech-focused Nasdaq Composite Index also saw an increase of 1.3 percent. Within the tech sector, Samsung Electronics experienced a slight decline of 0.11 percent, while SK hynix, its semiconductor rival, rose by 0.84 percent. The South Korean won was trading at approximately 1,414.8 won per U.S. dollar at that time.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
Also reported by 2 other outlets
- Seoul shares pare gains late Monday morning on foreign selling koreatimes.co.kr
- Seoul shares pare gains late Mon. morning on foreign selling en.yna.co.kr
