April 26, 2024

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[THE INVESTOR] Korea’s main bourse ended lower on May 2 as foreign and institutional investors offloaded large quantities of health care stocks. The won fell against the US dollar.

The benchmark KOSPI fell 9.77 points, or 0.39 percent, to 2,505.61. Trade volume was heavy at 792.17 million shares worth 11.498 trillion won (US$10.68 billion), with gainers outnumbering decliners 496 to 332.

Biopharmaceutical firms, such as Samsung BioLogics and Celltrion contributed to losses. Samsung BioLogics nosedived 17.21 percent to 404,000 won and Celltrion plunged 4.43 percent to 259,000 won.

Foreigners sold 166.28 billion won worth of stocks and institutions dumped 117.51 billion won worth of shares. Individuals bought 279.43 billion won stocks, keeping the KOSPI index from falling further.

Major large-cap stocks ended flat or lower.

Market bellwether Samsung Electronics ended unchanged from the previous session at 2,650,000 won, no. 2 chipmaker SK hynix traded 1.66 percent lower at 83,100 won and leading chemical firm LG Chem fell 5.83 percent to 339,000 won.

The local currency closed at 1,076.10 won against the US dollar, down 8.10 won from the previous session‘s close.

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