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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 Wednesday. (Yonhap) |
South Korean shares closed lower for the sixth consecutive session Wednesday as investors awaited US inflation data. The local currency lost ground against the US dollar.
The benchmark Korea Composite Stock Price Index dipped 19.26 points, or 0.75 percent, to close at 2,541.98.
Trade volume was moderate at 555.7 million shares worth 8.46 trillion won ($6.4 billion), with losers outnumbering gainers 536 to 338.
The Kospi stayed in negative terrain throughout the day, tracking overnight losses on Wall Street.
Foreign investors offloaded a net 215.5 billion won worth of local shares while individual investors purchased a net 351.5 billion won. Institutions net sold 140.9 billion won worth of local shares, extending their selling spree to a sixth consecutive session.
"It appears that investors wish to first check the US December consumer price index, which is due tomorrow evening," said Jeong Myeong-ji, an analyst at Samsung Securities.
"That is because faster-than-anticipated inflation may lead to a change in the speed of policy pivot by the Federal Reserve," Jeong added.
In Seoul, most large caps closed lower.
Market bellwether Samsung Electronics tumbled 1.47 percent to 73,600 won, with No. 2 chipmaker SK hynix plunging 2.84 percent to 133,500 won.
Leading battery maker LG Energy Solution lost 1.68 percent to 410,500 won, and its smaller rival Samsung SDI retreated 3.59 percent to 416,500 won.
Leading drug maker Celltrion stayed flat at 206,000 won, but top mobile service provider SK Telecom slipped 0.51 percent to 49,000 won.
Top automaker Hyundai Motor added 0.59 percent to 186,700 won, while its smaller affiliate Kia Motors advanced 1.57 percent to 90,500 won.
The local currency closed at 1,320.10 won against the dollar, down 4.40 won from the previous session's close. (Yonhap)
