South Korea: Stocks sag as foreigners book profits; up 7.7% for 2019

[SEOUL] South Korean shares closed lower on Monday as foreign investors booked profits in electronic stocks after a recent rally, and before the markets enter the two-day holiday. 

The KOSPI ended up 6.54 points, or 0.30 per cent, at 2,197.67.

For the year, the benchmark index gained 7.7 per cent. The index added 5.3 per cent in December.

Foreigners were net sellers of US$283.95 million worth of shares on the main board.

South Korean financial markets will be closed on Tuesday and Wednesday for the New Year. Markets will resume trade on Thursday, Jan 2, 2020, but will open at 0100 GMT, an hour later than usual.

REUTERS