(LEAD) Seoul shares end lower, snapping 5-day winning streak, on profit-taking
SEOUL, Aug. 18 (Yonhap) -- Seoul shares ended lower Tuesday, snapping a five-day...
Seoul shares ended lower on Tuesday, signaling the end of a five-day winning streak, as profit-taking hit large-cap stocks in the wake of dwindling hopes for an Iran-U.S. war resolution. The Korea Composite Stock Price Index (KOSPI) closed 1.55% lower, down 108.11 points to 6,869.83. Trade activity was steady, with 399.04 million shares exchanged, valued at 29.64 trillion won, and more decliners than gainers - 679 to 195.
Institutional investors sold stocks worth 784.9 billion won, while foreign and retail investors bought stocks worth 91.4 billion won and 731.29 billion won respectively.
The U.S. markets, the Dow Jones Industrial Average and the tech-focused Nasdaq composite, both slipped 0.51% and 0.32% respectively. Rising oil prices brought about inflation worries, and the prospects of an Iran deal dwindled after President Donald Trump expressed reluctance to renew the expired agreement with Iran.
Among the notable decliners, Samsung Electronics fell 2.19% to 268,500 won, Hyundai Motor dropped 3.97% to 435,000 won, Hanwha Aerospace declined 1.21% to 1.15 million won, and POSCO Holdings slipped 2.84% to 324,500 won. Conversely, Samsung's chipmaking competitor, SK hynix, gained 1.03% to 1.66 million won, while Samyang Foods saw a rise of 5.04% to 1.33 million won. The Korean won was valued at 1,411.8 against the U.S. dollar as of 3:30 p.m., marking a 1.2 won increase from the previous trading session.
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