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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 shares dipped to the lowest in over three months on Tuesday, as investors remained concerned due to the sliding Korean won and US policy uncertainties under the incoming Trump administration.
The local currency sharply fell against the US dollar, closing above 1,400 won for the first time in two years.
The benchmark Korea Composite Stock Price Index lost 49.09 points, or 1.94 percent, to close at 2,482.57, the lowest since Aug. 5, when the corresponding figure was 2,441.55.
Trade volume was heavy at 719 million shares worth 12.3 trillion won ($8.7 billion), with losers far outpacing winners 787 to 120.
Foreigners sold a net 233 billion won worth of local stocks and institutions offloaded a net 109 billion won, offsetting a net purchase of 332.3 billion won by individuals.
With Trump pledging to impose high tariffs on imported goods and implement protectionist measures, investors have remained cautious, despite recent rallies on Wall Street.
"Investors are advised to respond prudently to market fluctuations, given the weak investment sentiment and disparities among industries," said Kim Ji-won, a researcher at KB Securities.
In Seoul, Samsung Electronics tumbled 3.64 percent to 53,000 won, marking the lowest closing price since 52,900 won posted on Sept. 28, 2022.
Pharmaceutical companies traded lower, with Samsung Biologics falling 1.99 percent to 987,000 won and Celltrion losing 4.71 percent to 165,900 won.
Leading carmaker Hyundai Motor decreased 1.9 percent to 207,000 won, and Kia shed 2.85 percent to 91,900 won.
The local currency was trading at 1,403.5 won against the greenback at 3:30 p.m., down 8.8 won from the previous session.
The Korean won has been hovering around the psychologically significant level of 1,400 against the US dollar in recent sessions, following Donald Trump's victory in the US presidential election last week.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 0.1 basis point to 2.90 percent, and the return on the benchmark five-year government bonds shed 0.9 basis point to 2.939 percent. (Yonhap)
