Korean stocks fell on Jan. 22 after the International Monetary Fund cut its outlook for 2019, triggered by China’s weakest growth in nearly three decades, analysts said. The local currency lost against the greenback.
The benchmark KOSPI fell 6.84 points, or 0.32 percent, to finish at 2,117.77. Trading volume was moderate at 414.45 million shares worth 4.83 trillion won (US$4.27 billion), with losers outnumbering gainers 452 to 360.
Institutions and retail investors offloaded a net 115.42 billion won and 18.89 billion won worth of local stocks, respectively. Offshore traders bought a net 125.86 billion won to moderate some of the losses.
The local currency closed at 1,130.50 won against the US dollar, down 2.40 won from the previous session.
By Song Seung-hyun and newswires (firstname.lastname@example.org