May 08, 2024

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Korea’s main bourse closed lower on March 7 as investor sentiment was dampened by concerns over the global economic slowdown and uncertainties over trade frictions between the United States and China, analysts said. The local currency weakened against the greenback.

The benchmark KOSPI shed 9.81 points, or 0.45 percent, to finish at 2,165.79. Trading volume was slim at 278.9 million shares worth 4.6 trillion won (US$4.22 billion), with losers outnumbering gainers 623 to 219.

Institutions offloaded a net 113.6 billion won worth of local shares, while retailers picked up shares worth 111.5 billion won. Foreigners also picked up a net 280 million won worth of local shares, ending their selling binge for the past five sessions.

The local currency was trading at 1,129.00 won against the US dollar, down 0.2 won from the previous session.

By Ram Garikipati and newswires (ram@heraldcorp.com)