Seoul: Stocks end flat; investors eyeing Q3 GDP, chip earnings

[SEOUL] South Korean shares closed nearly unchanged on Friday, but marked the fourth weekly decline in five, as investors were cautious ahead of the third-quarter economic data and earnings report from major chipmakers at home.

The benchmark Kospi ended 1.17 points, or 0.04 per cent, lower at 3,006.16, extending the declines to a third straight session.

It slid 0.30 per cent for the week, after gaining 1.99 per cent a week earlier.

Among the heavyweights, chip giants Samsung Electronics and SK Hynix rose 0.28 per cent and 2.28 per cent, respectively, while platform companies Naver fell 0.73 per cent.

South Korea's economic growth likely slowed a bit in the third quarter as robust exports were partially offset by subdued domestic demand due to the spread of the Delta coronavirus variant, a Reuters poll found. Data is due on Tuesday.

Samsung Electronics and SK Hynix are expected to report their third-quarter earnings on Thursday and Tuesday, respectively.

Foreigners were net sellers of US$91.48 million worth of shares on the main board.

REUTERS