Seoul: Stocks fall after US tech shares slide, won down
[SEOUL] South Korean shares fell on Monday as a drop for the US technology sector hurt sentiment, dragging the local sub-index for electric and electronics shares down nearly two per cent.
The Korea Composite Stock Price Index (Kospi) closed down one per cent at 2,357.87 points.
LG Display was one of the biggest losers, ending 4.9 per cent down. At one point, it was off 5.5 per cent, the biggest daily percentage drop since mid-February.
Foreign investors sold a net 144.7 billion won (S$178.32 million) of Kospi shares for the day.
The South Korean won buckled against the US dollar due to a cautious mood ahead of Federal Reserve's June meeting, where a US rate hike is largely expected.
The won was quoted at 1,127.3 to the US dollar at the conclusion of onshore trade, down 0.4 per cent from Friday's close of 1,123.2.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Greenback recovers from PMI slump, yen closes in on 155 per dollar
Hong Kong Stock Exchange bids farewell to first woman chair
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
Asia: Stocks rise on earnings optimism as US data approaches
Singapore stocks climb at Wednesday’s open; STI up 0.4%