Seoul: Stocks end lower for a fourth straight session
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[SEOUL] South Korean shares ended lower for a fourth straight session on Wednesday, dragged down by heavyweights Samsung Electronics and Hyundai Motor, following overnight choppy trade on the Wall Street.
The Kospi closed down 8.39 points, or 0.28 per cent, at 2,996.35, its lowest since March 10. It fell as much as 1.12 per cent in early trade.
Wall Street ended lower overnight on concerns around the cost of infrastructure spending and potential tax hikes to pay for the US stimulus bill, while the spread of Covid-19 and related lockdown measures in Europe further dented sentiment.
Technology giant Samsung Electronics tumbled as much as 1.34 per cent after rival Intel Corp announced plans to greatly expand its advanced chip manufacturing capacity.
Foreigners were net sellers of US$422.50 million worth of shares on the main board.
REUTERS
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