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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap) |
South Korean shares closed slightly lower Thursday as foreign investors extended their selling streak to a second session. The local currency lost ground against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (Kospi) slipped 1.06 points, or 0.04 percent, to close at 2,609.30.
Trading volume was moderate at 325 million shares worth 9.7 trillion won ($7.09 billion), with losers outnumbering gainers 511 to 358.
Foreign investors net sold 405.8 billion won worth of local shares, one day after they offloaded a net 657 billion won. Institutions and retail investors net purchased 200.5 billion won and 163 billion won, respectively.
The index had opened in positive territory, tracking overnight gains on Wall Street, helped by advances in big tech shares, including artificial intelligence giant Nvidia, which closed 3.13 percent higher.
The Kospi showed choppy movements as investors took a cautious approach ahead of the upcoming earnings report from Taiwan Semiconductor Manufacturing Co. (TSMC).
"The earnings report will likely determine the direction of investor sentiments as the favorable condition in the AI market is expected to continue," Kiwoom Securities analyst Han Ji-young said earlier.
TSMC said its third-quarter net profit surged 54.2 percent on-year, higher than market expectations.
Tech shares closed higher in Seoul, with market kingpin and tech giant Samsung Electronics advancing 0.34 percent to 59,700 won, while the world's No. 2 chipmaker SK hynix surged 3.87 percent to 196,000 won.
Other large caps were mixed, with leading pharmaceutical firm Celltrion tumbling 3.52 percent to 188,900 won, while top battery maker LG Energy Solution lost 1.85 percent to 397,000 won.
Top automaker Hyundai Motor plunged 4.66 percent to 235,500 won, while its smaller affiliate Kia Motors lost 2.66 percent to 95,200 won.
The local currency was trading at 1,368.60 won against the greenback at 3:30 p.m., down 6 won from the previous session. (Yonhap)
