finance
Seoul Shares Close 0.46 Percent Lower as Local Investors Offset Most Foreign Selling
The KOSPI fell 37.01 points to 8,051.33 on July 6 after opening higher. Foreign and institutional investors sold 2.7 trillion won in stocks ahead of second-quarter earnings, while the won weakened against the dollar.
YonhapAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Seoul shares ended lower on Monday as foreigners continued to sell local stocks ahead of major companies' second-quarter earnings releases. The benchmark Korea Composite Stock Price Index opened 1.06 percent higher but reversed to close at 8,051.33, down 37.01 points or 0.46 percent, Yonhap reported. Trade volume reached 442.43 million shares worth 31.59 trillion won, or about $20.6 billion.
Gainers outnumbered losers 461 to 412. Institutions and foreigners sold a combined 2.7 trillion won worth of stocks, while individuals bought a net 2.6 trillion won. Technology stocks moved in opposite directions.
Samsung Electronics rose 2.75 percent to 318,000 won. SK hynix fell 3.38 percent to 2,343,000 won ahead of its planned $29 billion U.S. listing later in the week. Hyundai Motor gained 2.03 percent to 502,000 won, and LIG Defense and Aerospace added 1.88 percent to 815,000 won.
LG Energy Solution declined 2.21 percent to 354,500 won, and Korean Air dropped 2.16 percent to 28,750 won. The Korean won traded at 1,530.30 per U.S. , down 4.7 won from the prior session. The currency began 24-hour trading on Monday.
Bond yields rose, with the three-year Treasury yield up 2.8 basis points to 3.776 percent and the five-year government bond yield up 1.1 basis points to 3.991 percent.
