April 26, 2024

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[THE INVESTOR] Korean stocks closed lower on June 8 to end a five-day winning streak as investors tried to lock in profits from recent gains, amid lingering trade concerns ahead of the Group of Seven meeting, analysts said. The Korean won weakened against the US dollar.

The benchmark KOSPI sank 19 points, or 0.77 percent, to close at 2,451.58. Trade volume was relatively heavy at 510.91 million shares worth 7.19 trillion won (US$6.69 billion), with losers outnumbering winners 553 to 265.

Foreigners and institutions sold a net 33.24 billion won and 498.6 billion won worth of stocks, respectively, while retail investors scooped up a net 503.8 billion won worth of shares.

The Korean currency closed at 1,075.90 won against the US dollar, down 6.90 won from the previous session’s close.

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