April 20, 2024

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[THE INVESTOR] Korean shares retreated on Sept. 3 as investors dumped major tech stocks amid trade worries, analysts said. The Korean won rose against the US dollar.

The benchmark KOSPI declined 15.85 points, or 0.68 percent, to close at 2,307.03. Trade volume was light at 216 million shares worth 3.7 trillion won (US$3.30 billion) with losers surpassing winners 476 to 347.

The index started lower and went further south late in the afternoon as foreign and institutional investors dumped large-cap shares.

Foreigners and institutional investors sold a net 215 billion won and 74 billion won worth of local stocks, respectively, while individuals bought a net 237 billion won to offset some of the losses.

The Korean currency closed at 1,110.30 won against the US dollar, up 2.6 won from the previous session’s close.

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