Seoul: Stocks fall on global growth worries, post 4th weekly loss

[SEOUL] South Korean shares declined on Friday due to global recession worries after a plunge in US 30-year Treasury yields. 

The Seoul stock market's main KOSPI ended down 11.20 points, or 0.58 per cent, at 1,927.17.

South Korean shares' drop was less sharp because they had fallen much already, said Park Sang-hyun, an analyst at HI Investment & Securities. A modest rise of US stocks overnight also provided some relief, he added.

The KOSPI fell as much as 1.4 per cent in early trade.

The benchmark index marked a fourth consecutive weekly loss with a 0.55 per cent fall for the week.

 Foreigners were net sellers of US$105.62 million worth of shares on the main board. They registered net sales of KOSPI shares for 12th consecutive session, the longest since January 2016.

The KOSPI has fallen 5.58 per cent so far this year, and lost 7.5 per cent in the previous 30 trading sessions.

REUTERS