April 26, 2024

• 

South Korean stocks closed lower on April 30 as investors sought to cash in the previous session’s surge ahead of the Federal Reserve’s monetary policy decision this week, analysts said. The Korean won sharply fell against the US dollar on weaker-than-expected economic data.

The benchmark Kospi shed 12.84 points, or 0.58 percent, to close at 2,203.59. Trade volume was moderate at 375 million shares worth 5.6 trillion won ($4.8 billion), with losers outnumbering gainers 446 to 370.

Institutional investors offloaded 57.3 billion won, while foreign and retail investors scooped up a net 41.3 billion won and 12.4 billion won, respectively.

The local currency closed at 1,168.20 won against the US dollar, the lowest level of the year, down 9.70 won from the previous session’s close, on weak data from China.

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