[THE INVESTOR] South Korean shares sank 2.28 percent on Sept. 12, to hit an almost three-month low, as investors were spooked by continued setbacks in the global market and growing geopolitical tensions following North Korea’s nuclear test. The local currency fell sharply against the US dollar.
The benchmark KOSPI dropped 46.39 points to 1,991.48. Trading volume was moderate at 41.87 million shares, worth 4.75 trillion won (US$4.26 billion). Losers outnumbered gainers 635 to 185.
It marks the biggest fall since June 24 when the index shed 3.09 percent, or 61.47 points, following the Brexit vote.
“The global financial market is likely to be exposed to variables for some time,” said Lee Kyumg-min, an analyst at Daeshin Investment & Securities, noting that various negative factors from both home and abroad could further affect the market.
Top market cap Samsung Electronics sank 6.98 percent to end at 1,465,000 won out of concerns that its global recall of the Galaxy Note 7 may sharply dent its earnings down the road.
Naver, the top internet portal operator, inched down 0.83 percent to 840,000 won, and SK hynix, a major chipmaker, sank 5.01 percent to 37,000 won.
Cosmetics maker AmorePacific fell 1.67 percent to 383,500 won, while steelmaking giant POSCO shed 3.02 percent to 224,500 won.
The local currency closed at 1,113.5 won against the greenback, down 15.10 won from the previous day’s close.
(
theinvestor@heraldcorp.com)
