Seoul - The Seoul stock market concluded Tuesday's trading session on a lower note, with the Korea Composite Stock Price Index (KOSPI) dropping by 0.83 percent to 2,625.05 points. The decline of 22.03 points came as investors adopted a cautious stance ahead of significant U.S. economic data expected later in the week. Meanwhile, the local currency, the won, strengthened against the U.S. dollar.
According to Yonhap News Agency, trading volume was robust, with 567.4 million shares changing hands, totaling approximately 12.4 trillion won ($9.3 billion). The market saw a predominant number of decliners, with 745 stocks falling compared to 149 gainers. Institutional investors led the sell-off, offloading 50.6 billion won worth of shares, while individual and foreign investors were net buyers, purchasing 34.8 billion won and 167.1 billion won worth of stocks, respectively.
The downturn in Seoul's market reflects a broader trend of profit-taking in the U.S. stock market, which also closed lower overnight after a recent rally. Investors are particularly focused on the upcoming release of the core personal consumption expenditures price index, a critical inflation measure closely watched by the Federal Reserve.
Lee Kyoung-min, an analyst at Daishin Securities, noted that the market's previous upward momentum, fueled by the South Korean government's "value-up" program aimed at enhancing corporate value through incentives like tax breaks, had dissipated. Investors are now bracing for remarks from Federal Reserve officials scheduled for later in the week.
In the Seoul market, most major stocks ended in the red. Samsung Electronics saw a marginal increase of 0.14 percent, while other significant players like SK hynix, LG Energy Solution, and Hyundai Motor experienced declines. Conversely, Celltrion and Hanwha Aerospace were among the few stocks that enjoyed gains, buoyed by positive developments and earnings reports.
The session concluded with the won slightly appreciating to 1,331.00 against the dollar, highlighting a cautious but observant mood among investors as they await key economic indicators and policy cues from the U.S.