April 24, 2024

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[THE INVESTOR] Korean stocks closed lower on April 4 as concerns over strained trade ties between the United States and China, as well as escalating tension in Syria, sapped appetites for risky assets. The Korean won strengthened against the US dollar.

The benchmark KOSPI shed 6.52 points, or 0.27 percent, to close at 2,444.22. Trade volume was moderate at 346.72 million shares worth 6.77 trillion won (US$6.35 billion), with gainers outnumbering losers 448 to 378.

Institutions and foreigners sold a net 171.12 billion won and 22.54 billion won, respectively, while retail investors bought a net 197.99 billion won.

Tech heavyweights were mixed.

Market kingpin Samsung Electronics inched up 0.04 percent to 2,443,000 won, while global chipmaker SK hynix lost 1 percent to 81,200 won.

Cosmetics shares were down, with industry leader Amorepacific dropping 2.05 percent to 335,000 won and LG Household & Health Care decreasing 2.99 percent to 1,266,000 won. 

Samsung Biologics edged up 0.17 percent to 584,000 won, and top steelmaker POSCO gained 0.62 percent to 326,500 won.

The local currency closed at 1,066.3 won against the US dollar, up 0.1 won from the previous session’s close. 

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