Korean stocks finished lower on Jan. 14 as concerns over the protracted US government shutdown and signs of China’s economic slowdown hurt investor sentiment here, experts said. The Korean won weakened against the US dollar.
The benchmark KOSPI lost 11.05 points, or 0.53 percent, to 2.064.52. Trading volume was moderate at 427.92 million shares worth 4.87 trillion won (US$4.34 billion), with gainers outnumbering losers 420 to 412.
The index opened lower and had extended losses on heavy selling by institutions that offloaded local shares worth 178.8 billion won. But retail and offshore investors picked up shares worth 42.5 billion won and 95.6 billion won, respectively, limiting a further drop.
The local currency closed at 1,123 won against the US dollar, down 6.60 won from the previous session’s close.
By Song Seung-hyun and newswires (firstname.lastname@example.org