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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 Tuesday. (Yonhap) |
South Korean stocks closed lower Tuesday as investors sought profit while awaiting China's economic policy. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index lost 24.87 points, or 0.93 percent, to 2,649.4.
Trade volume was moderate at 447 million shares worth 11.9 trillion won ($8.93 billion), with losers outpacing gainers 606 to 282.
Foreigners scooped up 85.6 billion won, extending their buying streak to eight consecutive sessions. Institutions, on the other hand, offloaded 546.1 billion won, while individuals bought a net 398.5 billion won.
Investors took a breather after Wall Street finished lower overnight on profit taking, while keeping a watchful eye on China's economic policies from Beijing's national committee meeting.
"The attention is focused on whether (the meeting) comes up with economic stimulus measures that meet investors' expectations," said Kim Dae-wook, a researcher at Hana Securities.
Top tech giant Samsung Electronics fell 1.6 percent to 73,700 won, and No. 2 chipmaker SK hynix lost 0.42 percent to 165,800 won.
Kumyang shot up a whopping 24.8 percent to 125,300 won after the company announced the development of a new battery.
Following Tesla's plunge on Wall Street overnight, however, LG Life Solutions fell 2.76 percent to 387,500 won, and Samsung SDI decreased 2.14 percent to 366,500 won.
Leading carmaker Hyundai Motors fell 2.54 percent to 249,000 won and its smaller sister Kia decreased 2.07 percent to 123,000 won. Auto parts maker Hyundai Mobis, on the other hand, gained 0.4 percent to 253,000 won.
The local currency ended at 1,334.5 won against the greenback, down 3.2 won from the previous session's close. (Yonhap)
