(LEAD) Seoul stocks end down as U.S.-China talks end without results

All News 16:37 January 10, 2019

(ATTN: ADDS bond yields at bottom)

SEOUL, Jan. 10 (Yonhap) -- South Korean shares closed lower Thursday as investors engaged in profit taking, with the U.S. and China wrapping up three days of trade talks without tangible results.

The benchmark Korea Composite Stock Price Index fell 1.43 points, or 0.07 percent, to 2,063.28. Trading volume was moderate at 375.68 million shares worth 5.27 trillion won (US$4.7 billion), with decliners outnumbering gainers 471 to 330.

Foreigners bought a net 273.51 billion won worth of stocks, with institutions and individuals offloading 267.11 billion won worth of shares.

The main index declined, having gained 1.95 percent in the previous session, on optimism that Washington and Beijing may reach an understanding of some sort.

Tech and steel stocks led gains, with market bellwether Samsung Electronics Co. rising 0.51 percent to 39,800 won, No. 2 chipmaker SK hynix Inc. jumping 2.67 percent to 65,300 won and leading steelmaker POSCO gaining 1.17 percent to close at 258,500 won.

Among decliners, dominant tobacco company KT&G Corp. fell 0.49 percent to 101,500 won and flag carrier Korean Air Lines Co. shed 1.18 percent to 33,600 won.

The South Korean won traded at 1,118.30 won against the greenback, up 3.80 won from the previous session's close.

Bond prices, which move inversely to yields, ended higher. The yield on three-year Treasurys fell 1.3 basis points to 1.796 percent, while the return on benchmark five-year government bonds declined 3.5 basis points to 1.860 percent.