Seoul shares closed lower Wednesday on ex-dividend date and profit-taking amid lingering concerns over the economic implications of the omicron strain. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 26.95 points, or 0.89 percent, to 2,993.29 points.
Trading volume was moderate at about 536.6 million shares worth some 10.8 trillion won (about US$9 billion), with decliners outnumbering gainers 439 to 438.
Institutions and foreigners sold a combined 1.86 trillion won worth of stocks, while individuals purchased a net 1.84 trillion won.
Investors booked profits in profit taking after recent gains on the main bourse, keeping the KOSPI from finishing in the positive territory, analysts said.
The main KOSPI index rose 6.4 percent this month through Tuesday.
Tech and auto stocks were lead decliners.
Market bellwether Samsung Electronics Co. fell 1.9 percent to 78,800 won, No. 2 chipmaker SK hynix Inc. dipped 0.4 percent to 127,000 won, top carmaker Hyundai Motor Co. dropped 0.9 percent to 212,000 won, and Hyundai’s affiliate Kia Corp. shed 1.3 percent to 83,400 won.
Among gainers, national flag carrier Korean Air Lines Co. jumped 3.3 percent to 29,950 won and No. 2 carrier Asiana Airlines Inc. climbed 4.1 percent to 20,350 won, and leading refiner SK Innovation Co. gained 5.8 percent to 239,000 won.
The local currency closed at 1,186.50 won against the U.S. dollar, up 1.50 won from the previous session’s loss.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 0.3 basis point to 1.783 percent, and the return on the benchmark five-year government bond declined 1.7 basis points to 1.974 percent.
Source: Yonhap News Agency