April 20, 2024

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[THE INVESTOR] Korean stocks ended lower on March 21 as foreigners sold off local stocks ahead of an expected U.S. rate cut decision this week. The won fell against the US dollar. 

The benchmark KOSPI fell 0.55 point, or 0.02 percent, to 2,484.97. Trade volume was moderate at 391.08 million shares worth 5.73 trillion won (US$4.95 billion), with losers outpacing winners 477 to 328.

As investors take a wait-and-see attitude ahead of the US Federal Reserve’s possible rate hike later this week, the main index inched down without showing any serious volatility.

Technology stocks led the losses, with market bellwether Samsung Electronics backtracking 0.27 percent to 2,553,000 won, No. 2 chipmaker SK hynix declining 1.34 percent at 88,400 won.

Among gainers, top carmaker Hyundai Motor rose 1.31 percent to 154,500 won, leading steelmaker POSCO climbed 1.47 percent to 345,500 won and No. 2 electronics company LG Electronics gained 2.27 percent at 112,500 won.

The local currency closed at 1,072.30 won against the US dollar, down 3.70 won from the previous session.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)