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Seoul shares snap 3-day rise on profit taking

June 21, 2024 - 16:21 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap)

Seoul shares closed lower Friday on profit taking after a three-session winning streak. The Korean won fell against the US dollar.

The benchmark Korea Composite Stock Price Index fell 23.37 points, or 0.83 percent, to close at 2,784.26. The Kospi has risen 0.9 percent this week.

Trade volume was heavy at 617.53 million shares worth 14.12 trillion won ($10.1 billion), with decliners outnumbering gainers 577 to 296.

Institutions and foreigners sold a combined 365 billion won worth of stocks, offsetting individuals' stock purchases valued at 377 billion won.

Overnight, Nvidia and other chipmakers ended lower on profit taking.

In Seoul, tech and auto stocks led declines.

Market bellwether Samsung Electronics Co. fell 2 percent to 80,000 won, No. 2 chipmaker SK hynix Inc. declined 1.5 percent to 234,000 won, top carmaker Hyundai Motor Co. shed 1.9 percent to 280,000 won, and leading battery maker LG Energy Solution Ltd. dropped 2.1 percent to 333,000 won.

Among gainers, national flag carrier Korean Air Co. rose 0.2 percent to 21,450 won, No. 2 full-service carrier Asiana Airlines Inc. climbed 2.7 percent to 10,760 won, and leading beverage company Hitejinro Co. was up 0.7 percent to 21,050 won.

The local currency closed at 1,388.30 won against the US greenback, down 3.6 won from the previous session's close. (Yonhap)