The Business Times

Seoul: Shares end 1% lower, pulled down by technology heavyweights

Published Mon, Jul 19, 2021 · 04:17 PM

[SEOUL] South Korean shares ended 1 per cent lower on Monday, pulled down by technology heavyweights, as growing inflationary pressures and concerns over the surge in Covid-19 cases dampened risk appetite.

The benchmark Kospi closed down 32.87 points, or 1 per cent, at 3,244.04, marking the lowest close since July 9.

Technology giant Samsung Electronics fell 1 per cent, while peer SK Hynix tumbled 2.06 per cent. Internet giant Naver and battery maker LG Chem slid 0.89 per cent and 0.97 per cent, respectively.

Foreigners were net sellers of US$397.72 million worth of shares on the main board.

Global economic growth is beginning to show signs of fatigue while many countries, particularly in Asia, are struggling to curb the highly contagious Delta variant of the coronavirus and have been forced into some form of lockdown.

REUTERS

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