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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

Seoul shares close lower on US tech losses

  • PUBLISHED :March 28, 2018 - 16:57
  • UPDATED :March 28, 2018 - 16:57
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[THE INVESTOR] Korea’s bourse closed lower on March 28 as investor sentiment was weighed down by sharp overnight losses in technology shares on Wall Street, analysts said. The local currency fell against the US greenback.

The benchmark KOSPI dropped 32.77 points, or 1.34 percent, to 2,419.29. Trade volume was high at 495 million shares worth 7.63 trillion won (US$7.12 billion), with losers outpacing gainers 591 to 245.

Foreigners and institutions offloaded a net 247.5 billion won and 31.8 billion won of shares respectively. Individuals bought a net 276 billion won.

Market kingpin Samsung Electronics retreated 2.56 percent to 2,435,000 won, with No. 2 chipmaker SK hynix also slipping 1.35 percent to 80,300 won. LG Electronics decreased 2.24 percent to 109,000 won.

Pharmaceutical shares also took a breather, with Celltrion plunging 2.53 percent to 289,500 won and Samsung BioLogics stepping down 7 percent to 465,000 won. Hanmi Pharmaceutical lost 1.36 percent to 509,000 won.

Top steelmaker POSCO decreased 3.04 percent to 335,000 won and Korea Zinc slid 0.52 percent to 481,000 won. Hyundai Steel also declined 2.29 percent to 51,200 won.

Automotive companies closed on a mixed note, with top autoparts maker Hyundai Mobis jumping 6.73 percent at 261,500 won, while Hyundai Motor fell 1.62 percent to 151,500 won. Kia Motors added 3.94 percent to finish at 33,000 won.

Builders had a bullish day, with Hyundai Engineering and Construction rising 4.02 percent to 42,700 won and Daelim Industrial gaining 0.94 percent to 74,800 won.

The local currency closed at 1,070.80 won against the US dollar, down 0.5 won from the previous session.

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

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