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Seoul stocks down for 3rd day on trade dispute woes

All News 16:01 June 14, 2019

SEOUL, June 14 (Yonhap) -- South Korean stocks closed lower for three sessions in a row Friday as investors remained wary of the stalled U.S.-China trade negotiations. The Korean won lost ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.74 points, or 0.37 percent, to close at 2,095.41. Trade volume was moderate at 462 million shares worth 4.6 trillion won (US$3.9 billion), with losers outnumbering gainers 546 to 279.

The index opened lower, despite an overnight Wall Street rally, and continued to extend losses as the Chinese stock market fell amid heightened Washington-Beijing trade tensions.

Foreign and institutional investors offloaded a net 69 billion won and 92.4 billion won worth of local stocks, respectively, while individuals scooped up a net 158 billion won.

Most large-cap shares ended mixed.

Top cap Samsung Electronics moved up 0.57 percent to 44,000 won after opening lower, while SK hynix, a global chipmaker, lost 0.63 percent to 63,100 won.

Automakers ended mixed. Industry leader Hyundai Motor was down 0.35 percent at 140,500 won, while its smaller affiliate Kia Motors gained 1.44 percent to 42,150 won.

Bio shares closed in negative terrain, with Samsung BioLogics, a biopharmaceutical affiliate of Samsung Group, losing 1.11 percent to end at 313,000 won. Major bio firm Celltrion was down 2.9 percent to 201,000 won.

The local currency closed at 1,185.3 won against the U.S. dollar, down 2.15 won from the previous session's close.


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