Seoul shares end lower on extended tech losses
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)
Seoul shares ended lower Monday, bucking gains on Wall Street on extended tech losses. The Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (Kospi) fell 1.43 points, or 0.06 percent, to close at 2,454.48.
The main index ended in the negative territory after opening sharply higher, jumping 23.63 points, or nearly 1 percent, in the first 15 minutes of trading on U.S. gains.
On Friday, the Dow Jones Industrial Average rose 0.42 percent to 44,910.65 points, and the tech-heavy Nasdaq Composite climbed 0.83 percent to 19,218.17.
With no major upside momentum in the market, foreign and retail selling weighed on the stock market amid concerns over upcoming trade disputes between the United States and China, analysts said.
Foreigners and individuals sold a combined 452.66 billion won worth of stocks, exceeding institutional purchases valued at 391.7 billion won.
Trade volume was rather slim at 323.35 million shares worth 7.47 trillion won (US$5.3 billion), with losers far outnumbering winners 675 to 216.
Tech stocks were lead decliners.
Market bellwether Samsung Electronics fell 1.11 percent to 53,600 won, with No. 2 chipmaker SK hynix dipping 0.69 percent to 158,800 won.
Leading home appliance maker LG Electronics dropped 1.67 percent to 88,200 won, and top carmaker Hyundai Motor shed 1.14 percent to 216,000 won.
Among gainers, leading battery maker LG Energy Solution surged 2.62 percent to 391,500 won, with its local rival Samsung SDI climbing 1.77 percent to 259,000 won.
State-run utilities firm Korea Electric Power Corp. advanced 0.84 percent to 24,100 won, and the nation's sole aircraft manufacturer Korea Aerospace Industries soared 2.05 percent to 59,600 won.
The local currency was trading at 1,401.3 won against the greenback at 3:30 p.m., down 6.6 won from the previous session. (Yonhap)
