 |
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap) |
South Korean stocks lost ground on Monday as investors sat on the sidelines ahead of the release of fourth-quarter earnings reports. The Korean won edged up against the US dollar.
The benchmark Korea Composite Stock Price Index fell 8.39 points, or 0.34 percent, to 2,464.35.
Trading volume was low at 376 million shares worth 8.25 trillion won ($6.1 billion), with losers outpacing gainers 575 to 295.
Foreigners bought shares worth 295.3 billion won, while retail investors offloaded a net 244 billion won. Institutions shed a net 40 billion won.
Analysts said Seoul shares closed bearish as investors took a wait-and-see stance ahead of the release of earnings reports.
Samsung Electronics is expected to announce its earnings report on Jan. 31, with SK hynix also set to release its fourth-quarter performance on Thursday.
"The local stock market, which suffered excessive setbacks compared to other major bourses, is still maintaining its resilience," Han Ji-young, an analyst from Kiwoom Securities, said.
Top tech giant Samsung Electronics moved up 0.54 percent to 75,100 won, and No. 2 chipmaker SK hynix added 0.92 percent to 142,600 won.
Battery makers, however, lost ground, with LG Energy Solution falling 3 percent to 372,000 won and Samsung SDI losing 4.28 percent to 358,000 won.
Pharmaceutical firms closed bullish, with Samsung Biologics rising 2.99 percent to 793,000 won and Celltrion climbing 4.32 percent to 183,600 won.
Chemical companies closed lower, with LG Chem sliding 4.33 percent to 387,000 won and leading oil refiner SK Innovation decreasing 4.67 percent to 108,300 won. S-Oil lost 1.8 percent to 65,300 won.
The local currency ended at 1,338.9 won against the greenback, up 0.1 won from the previous session's close. (Yonhap)
