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THE INVESTOR] South Korean stocks ended lower on Sept. 26 as a drop in oil prices weighed on the market. The Korean won fell against the US dollar.
The benchmark KOSPI fell 6.96 points, or 0.34 percent, to close at 2,047.11. Trade volume was moderate at 355 million shares worth 3.6 trillion won (US$3.20 billion), with losers outnumbering gainers 483 to 329.
Investors also resisted making big moves after losses on Wall Street, and ahead of the first US presidential debate, where Democrat Hillary Clinton and Republican Donald Trump will face off.
Kim Byung-yeon, an analyst at NH Investment and Securities, said the upcoming US presidential election could increase volatility in the market.
“Depending on the trend of approval ratings after the first debate, there is a possibility that volatility could be widened in financial markets, particularly for those in emerging markets,” Kim said.
Samsung Electronics fell 0.19 percent to end at 1,568,000 won, and SK hynix, a global chipmaker, edged up 0.38 percent to 39,500 won.
Naver, the operator of the country’s top internet portal, shed 0.23 percent to 876,000 won.
Automakers traded in negative terrain, with industry leader Hyundai Motor down 1.06 percent to 140,500 won, and its smaller affiliate Kia Motors dipping 2.34 percent to 43,750 won.
The local currency closed at 1,107.90 won against the US greenback, down 5.5 won from the previous session’s close.
Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasury fell 0.2 basis point to 1.301 percent, while the return on the benchmark five-year government bond rose 0.2 basis point to 1.328 percent.
(
theinvestor@heraldcorp.com)
