Seoul: Shares end nearly 1% lower on weak economic backdrop
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[SEOUL] South Korean shares erased gains to close nearly 1 per cent lower on Monday as investors braced for a bleak corporate results and weak economic data in the backdrop of the coronavirus pandemic.
The KOSPI ended 16.17 points lower, or 0.84 per cent, at 1,898.36. So far this year, the index is down 13.62 per cent.
Foreigners were net sellers of US$389.47 million worth of shares on the main board.
The trading volume was 1,075.82 million shares. Of the total traded issues of 902, the number of advancing shares was 496.
Meanwhile, South Koreans are returning to work and crowding shopping malls, parks, golf courses and some restaurants as the government relaxed social distancing rules amid a continued downward trend in coronavirus cases.
REUTERS
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