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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 Monday. (Yonhap) |
Seoul shares ended lower Monday to extend their losing streak to a fifth day amid concerns that the US Federal Reserve may not cut its rate by a large margin. The Korean won traded sharply lower against the US dollar.
The benchmark Korea Composite Stock Price Index lost 8.35 points, or 0.33 percent, to close at 2,535.93.
Trading volume was moderate at 262.46 million shares worth 7.3 trillion won ($5.4 billion), with gainers outnumbering losers 502 to 371.
Foreigners sold a net 540 billion won worth of stocks, exceeding institutions and individuals' stock purchases valued at 514 billion won.
Weaker-than-expected employment data in August weighed on investor sentiment ahead of the Fed's rate decision later this month.
They said investors will focus on next week's inflation data to get a final clue on the US central bank's monetary policy.
But the Fed would not hurry in lowering the rate sharply as the world's largest economy remains sound.
In Seoul, large-cap stocks were mixed across the board.
Market bellwether Samsung Electronics Co. fell 2 percent to 67,500 won, leading wireless services provider SK Telecom Co. declined 2.3 percent to 56,500 won, LG Chem Ltd. shed 0.6 percent to 309,500 won, and state utility Korea Electric Power Corp. was down 0.7 percent to 21,750 won.
Among gainers, No. 2 chipmaker SK hynix Inc. rose 0.4 percent to 157,000 won, top carmaker Hyundai Motor Co. climbed 0.9 percent to 229,500 won, leading cosmetics firm Amorepacific Corp. jumped 6.4 percent to 139,300 won, and leading battery maker LG Energy Solution Ltd. was up 1.1 percent to 399,500 won.
The local currency traded at 1,339.80 won against the dollar as of 3:30 p.m., down 12.2 won from the previous session. (Yonhap)
