South Korean Stocks Decline Amid Profit-Taking Activities

SEOUL - The Korea Composite Stock Price Index (KOSPI) was reported to have dropped 1.13 percent by late Tuesday morning, as investors engaged in profit-taking. The benchmark index fell 30.4 points, reaching 2,649.86 as of 11:20 a.m.

According to Yonhap News Agency, significant contributors to the decline included a 1.36 percent decrease in shares of Samsung Electronics and a 2.12 percent fall in SK hynix shares. Other notable declines were observed in Samsung C&T, which tumbled 2.64 percent, and Kumho Petro Chemical, which plunged 6.19 percent. Additionally, Shinsegae and Samsung Biologics experienced drops of 2.69 percent and 0.37 percent, respectively. The South Korean won also weakened against the U.S. dollar, trading at 1,338.15, down 2.95 won from the previous session's close, further reflecting the day's bearish mood in the stock market.

scroll to top