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(LEAD) Seoul stocks down for 2nd day on bio losses

All News 16:54 November 08, 2021

(ATTN: ADDS bond yields at bottom, photo)

SEOUL, Nov. 8 (Yonhap) -- South Korean stocks lost for the second straight session Monday as financial, bio and tech stocks plunged. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.07 points, or 0.31 percent, to close at 2,960.2 points.

Trading volume was moderate at about 551 million shares worth some 10.2 trillion won (US$8.6 billion), with gainers outnumbering losers 502 to 352.

Foreigners sold a net 122 billion won, while retail investors bought 366 billion won. Institutions offloaded a net 273 billion won.

(LEAD) Seoul stocks down for 2nd day on bio losses - 1

Foreign and institutional sell-offs led the KOSPI's retreat.

"Stocks seem to have carried a mixed bag today -- bio stocks slumped on reports about positive test results of the COVID-19 pill, while stocks related to economic reopening advanced," Eugene Securities analyst Huh Jae-hwan said.

Market bellwether Samsung Electronics added 0.57 percent to 70,600 won, and No. 2 chipmaker SK hynix increased 0.47 percent to 107,500 won.

Pharmaceutical giant Samsung Biologics slumped 4.75 percent to 823,000 won, and Celltrion dipped 5.74 percent to 197,000 won.

Hyundai Motor, the country's largest carmaker, closed unchanged at 215,000 won.

Kakao Bank shed 2.8 percent to 55,600 won, and Kakao Pay plummeted 9.71 percent to 153,500 won.

The local currency closed at 1,183.1 won against the U.S. dollar, up 2.1 won from the previous session's close.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 3.8 basis points to 1.906 percent, and the return on the benchmark five-year government bond fell 2 basis points to 2.146 percent.


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