Seoul shares dip over 1.5% ahead of US inflation data; won sharply down at 1-month low


Seoul's stock market experienced its third consecutive decline as investors awaited crucial US inflation data. The Korea Composite Stock Price Index dropped by 1.56 percent to close at 2,635.44, with trade volume reaching 366.42 million shares valued at 10.92 trillion won ($7.9 billion). This saw a significant disparity between losers, which totaled 680, and gainers, which amounted to only 197. Foreign and institutional investors collectively sold 1.23 trillion won of stocks, surpassing individual purchases valued at 1.19 trillion won. In the US, the Dow Jones Industrial Average decreased by 1.06 percent to 38,441.54 points, while the Nasdaq composite also fell by 0.58 percent to 16,920.58. Attention also focused on the forthcoming release of the US core Personal Consumption Expenditures price index for April, which was expected to influence market sentiment. Amid this decline, large-cap stocks in Seoul saw decreases, with notable drops observed in the shares of market heavyweight Samsung Electronics Co., chipmaker SK hynix Inc., and carmaker Hyundai Motor Co. On the other hand, certain companies experienced gains, including cosmetics firm Amorepacific Corp., refiner SK Innovation Co., and Hybe, the company behind K-pop sensation BTS. The Korean won saw a decrease to 1,379.40 won against the US dollar, marking its lowest value since April 30.


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