Seoul shares extended losses late Friday morning, following a mixed close on Wall Street, as investors offloaded more tech and other large-cap stocks on profit taking.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 28.72 points, or 1.02 percent, to 2,778.91 as of 11:20 a.m., snapping a three-session winning streak.
Overnight, the Dow Jones Industrial Average rose 0.8 percent to 39,134.76 points and the tech-heavy Nasdaq Composite fell 0.8 percent to 17,721.59.
Institutions and foreigners sold a combined 245 billion won (US$176 million) worth of stocks, offsetting individuals’ stock purchases valued at 254 billion won.
In Seoul, most of the large-cap stocks declined.
Market behemoth Samsung Electronics Co. fell 1.8 percent, No. 2 chipmaker SK hynix Inc. declined 2.5 percent, top carmaker Hyundai Motor Co. shed 1.6 percent, and leading refiner SK Innovation Co. plunged 5.6 percent.
Among gainers, leading wireless services provider SK Telecom Co. rose 0.8 percent, No. 2 wireless services pro
vider KT Corp. gained 0.8 percent, and leading tourism agency Hana Tour Service Inc. was up 3.7 percent.
The local currency was trading at 1,389.55 won against the U.S. dollar, down 4.85 won from the previous session’s close.
Source: Yonhap News Agency
