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S. Korean stocks end lower on foreign selling

All News 16:05 July 05, 2018

SEOUL, July 5 (Yonhap) -- South Korean stocks ended lower Thursday as foreigners turned net sellers amid brewing concerns of a full-fledged trade war between the U.S. and China. The won lost ground against the dollar.

The benchmark Korea Composite Stock Price Index fell 7.91 points, or 0.35 percent, to 2,265.46. Trade volume was light at 342.6 million shares with 5.06 trillion won (US$4.5 billion) worth of shares changing hands. Decliners outnumbered advancers 578 to 240.

Foreigners sold a net 92.72 billion won, outpacing the combined buying of 75.2 billion won in stocks by institutional and individual investors.

"Many investors seem wary of a possible trade war between the U.S. and China as local exporters are heavily exposed to the two trading partners," Jung Hun-seog, an analyst at Korea Investment & Securities Co., said. Beijing and Washington are Seoul's largest and second-largest export markets.

Market bellwether Samsung Electronics Co. fell 0.65 percent to 45,950 won, and state-run utility Korea Electric Power Corp. declined 1.40 percent to 31,650 won.

Among gainers, top carmaker Hyundai Motor Co. rose 1.67 percent to 121,500 won and leading steelmaker POSCO climbed 1.31 percent to 309,000 won.

The local currency closed at 1,118.60 won against the U.S. dollar, down 4.10 won from the previous session's close.

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