Seoul: Stocks post second weekly loss on inflation, policy tightening woes

[SEOUL] South Korean shares ended lower on Friday in their second straight weekly fall, hit by worries over high inflation and aggressive monetary tightening by the US Federal Reserve.

The benchmark Kospi closed down 20.65 points or 0.76 per cent at 2,696.06. The index fell 0.16 per cent for the week.

Among the heavyweights, technology giant Samsung Electronics fell 1.33 per cent and peer SK Hynix dropped 1.82 per cent, while battery maker LG Energy Solution lost 1.36 per cent.

Foreigners were net sellers of US$259.00 million worth of shares on the main board, extending selloffs to the eighth straight session. REUTERS