April 19, 2024

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[THE INVESTOR] Korean stocks backtracked on Dec. 20 as the US Federal Reserve’s interest hike weighed on investor sentiments here, analysts said. The Korean won weakened against the US dollar.

The benchmark KOSPI dropped 18.72 points, or 0.9 percent, to 2,060.12. Trading volume was moderate at 412.81 million shares worth 5.32 trillion won (US$4.71 billion), with losers beating winners 519 to 310.

Foreigners and retailers dumped a net 42.02 billion won and 9.2 billion worth of stocks, respectively, while institutions bought a net 63.57 billion won.

The local currency closed at 1,127.80 won against the US dollar, down 4.30 won from the previous session.

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