Seoul: Stocks end lower, investors look to US inflation data
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[SEOUL] South Korean shares closed lower on Tuesday, dragged down by technology stocks, while investors awaited key US inflation data due later this week.
The benchmark Kospi closed down 4.29 points, or 0.13 per cent, at 3,247.83, reversing early gains of 0.39 per cent and retreating from the previous session's record finish. Electric and electronic stocks fell 0.41 per cent, leading the retreat.
Among heavyweights, Samsung Electronics closed flat, while peer SK Hynix fell 0.78 per cent. Battery maker LG Chem declined 0.74 per cent, while internet giant Naver was flat.
Foreigners were net sellers of US$185.24 million worth of shares on the main board.
"Investors remain cautious ahead of the US inflation data release (later this week) and the US Federal Reserve policy meeting next week," said Na Jeong-hwan, an analyst at Cape Investment & Securities.
REUTERS
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