April 24, 2024

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[THE INVESTOR] Korean stocks closed a volatile session on a downbeat note on April 12 as escalating tensions in Syria and lingering economic uncertainties eroded investor confidence. The Korean won weakened against the US dollar.

The benchmark KOSPI lost 1.51 points, or 0.06 percent, to close at 2,442.71. Trade volume was moderate at 436.10 million shares worth 8 trillion won (US$7.48 billion), with gainers outnumbering losers 415 to 408.

Institutions and individuals dumped a net 150.22 billion and 75.23 billion won, respectively. Foreigners turned to net buyers, picking up a 234.14 billion worth of local stocks.

Korean Air, the nation‘s No. 1 airline, tumbled 6.55 percent to 33,550 won, and its smaller rival Asiana Airlines slipped 2.75 percent to 4,960 won.

Samsung Biologics declined 3.25 percent to 565,000 won, and Celltrion, a major pharmaceutical firm, lost 0.17 percent to 298,500 won.

In contrast, tech heavyweights were up.

Top market cap Samsung Electronics edged up 0.29 percent to 2,450,000 won, and global chipmaker SK hynix advanced 3.45 percent to 84,000 won.
The local currency closed at 1,069.50 won against the US dollar, down 3.20 won from the previous session’s close.

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