Seoul shares down for 2nd day on SK hynix, batteries


Seoul's stock market experienced a decline on Monday, with the SK hynix stock dropping nearly 5 percent and battery manufacturers also showing negative performance. The Korea Composite Stock Price Index fell by 0.7 percent to 2,764.73, with trade volume reaching 580.2 million shares valued at 10.8 trillion won. Foreign investors and institutions sold local shares worth 386 billion won and 94.4 billion won, respectively, while retail investors bought shares worth 464.7 billion won. The Dow Jones Industrial Average slightly increased by 0.04 percent on Friday, while the Nasdaq Composite and S&P 500 decreased by 0.16 percent and 0.18 percent, respectively. The decline in the KOSPI was attributed to foreign investors offloading stocks in response to losses on Wall Street. In Seoul, Samsung Electronics saw a 0.75 percent increase, while SK hynix plummeted by 4.7 percent. LG Energy Solution and Samsung SDI, both leading battery makers, experienced declines, while bio and IT shares showed mixed performance. Naver, an internet portal operator, rose by 0.78 percent, while Kakao, the operator of the country's top mobile messenger, saw a 2.55 percent decrease. Gamemaker Krafton and SK Square both experienced significant declines, while the shipping sector showed strength, with Hyundai Heavy Industries and Korea Shipbuilding both seeing increases. The local currency ended at 1,389.00 won against the US dollar, down 0.7 won from the previous session's close.


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