South Korean stocks fell nearly 1 percent to snap a three-session winning streak as foreign investors dumped techs and battery stocks. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 24.01 points, or 0.92 percent, to 2,593.79, marking the first daily drop in four trading days.

Trade volume was moderate at 476.4 million shares worth 8.76 trillion won (US$6.3 billion), with decliners beating gainers 514 to 350.

Foreigners sold a net 335.3 billion won worth of stocks to lead the decline, offsetting the purchase of a net 311.7 billion won by institutions and individuals altogether.

Techs and battery stocks led the market decline.

Market bellwether Samsung Electronics lost 0.84 percent to 59,100 won and top carmaker Hyundai Motor declined 1.56 percent to 220,500 won.

EV battery shares were weak on poor quarterly earnings reports as POSCO Future M slid 4.19 percent to 228,500 won and Samsung SDI skidded 1.45 percent to 339,000 won.

Steel giant POS
CO Holdings dropped 1.88 percent to 340,000 won and major shipbuilder Hanwha Ocean sank 3.16 percent to 27,550 won.

Korea Zinc fell by the daily limit of 30 percent to 1.08 million won after announcing plans to raise 2.5 trillion won by issuing new shares in a bid to win its ongoing management battle.

But SK hynix, the world’s second-largest memory chipmaker, rose 2.47 percent to 195,000 won and leading battery maker LG Energy Solution went up 0.61 percent to 411,500 won.

Retail giant Shinsegae added 1.54 percent to 151,400 won after Shinsegae Group is to split its department store and supermarket division into separate entities.

The Korean won was trading at 1,382.4 won against the greenback at 3:30 p.m., up 4.1 won from the previous session.

Source: Yonhap News Agency