Seoul: Stocks slip for sixth day as chip shares dive
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[SEOUL] South Korean shares slipped for a sixth straight session on Thursday as foreign investors offloaded heavyweight chip stocks Samsung Electronics and SK Hynix.
The benchmark Kospi fell 12.37 points, or 0.38 per cent, to 3,208.25.
Technology giant Samsung Electronics fell 1.91 per cent and peer SK Hynix tumbled 4.74 per cent. Naver fell 1.01 per cent, while LG Chem rose 3.17 per cent.
Losses were concentrated on Samsung Elec and SK Hynix, which dragged down the index, even as soft US inflation data helped to provide some relief from concerns about an early tapering, said Huh Jae-hwan, an analyst at Eugenee Investment & Securities.
The Kospi has risen 11.65 per cent this year, but has lost 2.3 per cent in the previous 30 trading sessions.
The trading volume during the session in the Kospi index was 634.47 million shares. Of the total traded issues of 918, the number of advancing shares was 404.
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