finance
South Korean Stocks End Mixed as Index Falls 2 Percent but Most Shares Rise
The KOSPI closed at 8,303.41 on July 1 after dropping 173 points. Investors sold semiconductor holdings following recent gains while exports reached a June record. The won weakened against the dollar.
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South Korean stocks ended more than 2 percent lower on July 1 as investors locked in gains from recent rallies in semiconductor shares. The benchmark KOSPI fell 173.07 points, or 2.04 percent, to 8,303.41. Yonhap reported that foreign investors sold a net 1.7 trillion won while institutions sold 70.48 billion won.
Individual investors bought a net 1.73 trillion won. Trade volume reached 396.59 million shares worth 67.84 trillion won. Samsung Electronics closed at 314,500 won, down 5.84 percent. SK hynix fell 3.4 percent to 1.56 million won.
LS Electric rose 10.71 percent to 263,500 won and HD Hyundai Electric gained 4.12 percent to 1.01 million won. The Korean won traded at 1,554.9 per U.S. , down 5.5 won from the prior session. The three-year Treasury yield rose 8.8 basis points to 3.791 percent and the five-year yield increased 10.3 basis points to 4.028 percent.
South Korea's exports reached a record above US$100 billion in June on the back of record semiconductor shipments. U.S. stocks closed higher overnight on June 30 amid a continued chip rally. Iran stated on June 30 that it would not meet with top U.S.
Envoys, even as indirect talks continued through mediators in Qatar.
