Seoul shares ended lower Friday as investors diversified their portfolios ahead of the release of U.S. job data. The South Korean won declined against the U.S. dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.1 percent, or 2.59 points, to 2,602.80. Trading volume was moderate at 637.9 million shares worth 10.8 trillion won (US$8.2 billion), with gainers outnumbering decliners 539 to 332.
All three major U.S. indexes finished a tad lower Thursday (U.S. time) as investors digested higher Treasury yields and latest corporate earnings ahead of U.S. job data for July set to be released later in the day.
"The recent heavy demand for semiconductor and secondary battery shares dispersed into undervalued stocks," Kim Seok-hwan, an analyst at Mirae Asset Securities Co., said.
Kim also noted the Korean won declined against the U.S. dollar ahead of the release of U.S. job data for July over concerns it will increase the possibility of an additional rate hike by the Federal Reserve.
Foreign investors and institutions sold off shares worth 242.4 billion won and 236.2 billion won, respectively, while retail investors bought a total of 473.7 billion won worth of shares.
In Seoul, big-cap stocks traded mixed.
Market behemoth Samsung Electronics dropped 0.73 percent, but No. 2 chipmaker SK hynix edged up 0.08 percent.
Auto and IT shares were mixed as well.
Hyundai Motor gained 0.26 percent, but its affiliate Kia inched down 0.12 percent.
Internet portal operator Naver rose 0.22 percent on strong quarterly earnings, but Kakao, the operator of popular mobile messenger KakaoTalk, plunged 2.81 percent on weak earnings.
Battery shares lost ground.
Leading battery maker LG Energy Solution went down 0.55 percent, its smaller rival Samsung SDI went down 0.63 percent, and POSCO Future M lost more than 1.6 percent.
Bio stocks also traded in negative terrain, with Samsung Biologics dropping 1.36 percent and Celltrion retreating 0.33 percent.
Financial shares gained ground, with KB Financial Group advancing more than 1.5 percent, Shinhan Financial Group gaining 0.43 percent and Hana Financial Group adding 0.26 percent.
Hybe, the entertainment agency behind BTS, shot up more than 9.6 percent.
The Korean won ended at 1,309.80 won against the greenback, down 10.7 won from the previous session's close.
Source: Yonhap News Agency