Go to Contents Go to Navigation

S. Korean stocks end lower on institutional selling

All News 15:50 January 11, 2018

SEOUL, Jan. 11 (Yonhap) -- South Korean stocks finished lower Thursday as institutions became net sellers after Wall Street took a breather from a recent rally. The won fell against the dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.84 points, or 0.47 percent, to close at 2,487.91. Trade volume was moderate at 419.71 million shares worth 7.52 trillion won (US$7 billion), with losers outnumbering gainers 424 to 380.

Institutions sold a net 430.17 billion won. Individuals and foreigners bought a combined 377.90 billion won, keeping the main index from falling further.

Tech, auto and steel stocks led losses, with market bellwether Samsung Electronics Co. falling 1.23 percent to 2,412,000 won, top carmaker Hyundai Motor Co. shedding 0.32 percent to 155,000 won and leading steelmaker POSCO declining 1.61 percent to 366,500 won.

Among gainers, dominant cosmetics firm AmorePacific Corp. rose 0.65 percent to 307,500 won, and leading chemicals firm LG Chem Ltd. climbed 1.20 percent to 421,500 won.

The tech-heavy KOSDAQ rose 17.60 points, or 2.11 percent, to 852.51, as the government said it would give tax breaks to individuals who invest in mutual funds for startups and would soften some listing rules for the secondary market.

The Korean won closed at 1,072.0 won against the U.S. dollar, down 0.1 won from the previous session's close.


Send Feedback
How can we improve?
Thanks for your feedback!