Seoul shares ended lower Tuesday, led by declines in technology stocks, amid concerns over rising bond yields at multidecade highs. The Korean won rose against the US dollar.
After opening higher, the benchmark Korea Composite Stock Price Index turned lower to close down 62.35 points, or 0.89 percent, at 6,941.39.
Trade volume was light at 257.27 million shares worth 19.1 trillion won ($14.2 billion), with decliners outnumbering gainers 459 to 424.
Foreigners and institutions sold a net 1.75 trillion won and 1.98 billion won worth of stocks, respectively. Individuals bought a net 740.56 billion won.
Investors now await third-quarter corporate earnings, with higher interest rates, elevated energy costs and renewed inflation worries pushing up global bond yields.
Investors are expected to remain cautious until there is a fresh policy catalyst or strong corporate earnings results, analysts said.
In Seoul, tech stocks led the decline.
Market bellwether Samsung Electronics fell 1.45 percent to 272,000 won, and its chipmaking rival SK hynix declined 3.69 percent to 1.77 million won.
Korea Aerospace Industries, the country’s sole aircraft manufacturer, dropped 3.22 percent to 129,200 won.
Among gainers, LG Electronics jumped 7.64 percent to 232,500 won as it has secured a long-term agreement to supply chillers for artificial intelligence data centers with a North American company.
No. 2 battery maker Samsung SDI advanced 8.7 percent to 575,000 won and top carmaker Hyundai Motor gained 0.43 percent to 348,000 won.
The Korean won was quoted at 1,343.6 won against the US dollar as of 3:30 p.m., compared to 1,344 won from the previous stock trading session’s close. (Yonhap)
