April 26, 2024

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[THE INVESTOR] Korean stocks finished lower on Dec. 14 as investors moved to lock in profits from recent gains amid renewed concerns over the global economic slowdown, experts said. The Korean won weakened against the US dollar.

The benchmark KOSPI lost 26.17 points, or 1.25 percent, to 2.069.38, clipping back the previous two days’ gains. Trading volume was moderate at 439.54 million shares worth 5.58 trillion won (US$4.94 billion), with losers outnumbering gainers 517 to 321.

The index opened nearly flat but soon turned to negative terrain to extend losses. Foreign and institutional investors offloaded local shares worth 92.4 billion won and 123.1 billion won, respectively, while retailers picked up shares worth 183.9 billion won.

The local currency closed at 1,130.80 won against the US dollar, down 7.40 won from the previous session’s close.

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