Electronic signboards at the trading room of Hana Bank in Seoul showthe benchmark Kospi closed at 3,232.7 on Tuesday, fell 11.34 points or 0.35 percent from the previous session's close. (Yonhap)
South Korean stocks extended their losing streak to a third consecutive session Tuesday, following a US stock plunge that stemmed from concerns that the resurgence in the new coronavirus and its variants may deter economic recovery. The Korean won fell against the US dollar.
The benchmark Korea Composite Stock Price Index (Kospi) retreated 11.34 points, or 0.35 percent, to close at 3,232.7 points.
Trading volume was moderate at about 963 million shares worth some 15.1 trillion won ($13.1 billion), with losers outnumbering gainers 680 to 192.
Foreigners sold a net 181 billion won, while retail investors bought 38 billion won. Institutions purchased a net 152 billion won.
Virus worries continued to pull down the Kospi after the key stock index's 1 percent retreat the previous session.
Overnight, the big-three US stock indexes tumbled, with the Dow Jones Industrial Average declining 2.09 percent. The tech-heavy Nasdaq Composite and the S&P 500 were down 1.06 percent and 1.59 percent, respectively.
South Korea's new daily cases topped the 1,200 threshold for two weeks, prompting authorities to tighten virus curbs against cluster infections across the nation ahead of the summer holiday season.
Investor appetite for risk remained weak despite high expectations for second quarter earnings.
"Investors seem to be worried that the resurgence of the delta variant could turn down the corporate earnings forecast for the second half this year," Eugene Investment & Securities analyst Huh Jae-hwan said.
Most large caps closed lower in Seoul, while bio heavyweights advanced.
Market kingpin Samsung Electronics closed unchanged at 79,000 won, and No. 2 chipmaker SK hynix retreated 0.42 percent to 118,500 won.
Internet portal giant Naver moved down 0.9 percent to 439,000 won, and leading carmaker Hyundai Motor edged down 0.22 percent to 227,000 won. Giant chemical maker LG Chem lost 0.61 percent to 815,000 won.
Top pharmaceutical firm Samsung Biologics lost 0.33 percent to 913,000 won, while Celltrion jumped 3.8 percent to 273,000 won.
The local currency closed at 1,150.4 won to the US dollar, down 2.6 won from the previous session's close. (Yonhap)