The Korea Herald

ssg
피터빈트

Seoul shares end 5-day winning streak on profit taking, US losses

By Yonhap

Published : Dec. 21, 2023 - 16:18

    • Link copied

An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)

South Korean stocks finished lower Thursday as investors took profit following a five-session winning streak and overnight US losses. The local currency fell against the US dollar.

The benchmark Korea Composite Stock Price Index dropped 14.28 points, or 0.55 percent, to close at 2,600.02.

Trade volume was moderate at 569.4 million shares worth 9.31 trillion won ($7.14 billion), with losers outpacing winners 616 to 257.

On Wednesday, the Kospi rose 1.78 percent to close at 2,614.30, its highest point since Sept. 15.

US stocks fell overnight, with the Dow Jones Industrial Average slipping 1.27 percent and the tech-heavy Nasdaq Composite also tumbling 1.50 percent.

Seoul stocks ended in negative terrain despite an announcement earlier in the day on loosening rules on capital gains tax for wealthy shareholders.

Lee Kyung-soo, an analyst at Hana Securities, said, "The announcement had a limited effect as the decision has already been factored in" investment decisions regarding the Kospi's recent multi-session gains.

Most blue chips ended lower across the board, with top automaker Hyundai Motor sliding 0.20 percent to 198,700 won and top battery manufacturer LG Energy Solution shedding 2.20 percent to finish at 423,000 won.

Leading steelmaker Posco Holdings tumbled 1.92 percent, and top chemical firm LG Chem dropped 1.79 percent to 495,000 won.

Refiners also took a beating, with industry leader SK Innovation falling 1.22 percent to 37,900 won.

HMM, the country's No. 1 container shipper, plunged 11.63 percent to 19,530 won following its near 20 percent surge in the previous session over the announcement of its planned sale to Harim Group this week.

Tech behemoth Samsung Electronics managed to add 0.27 percent to end at 75,000 won, and No. 2 automaker Kia climbed 0.42 percent to 95,400 won. Auto parts maker Hyundai Mobis also jumped 0.66 percent to 230,500 won.

The local currency closed at 1,305.10 won against the greenback, down 6.20 won from the previous session's close. (Yonhap)