Seoul shares snap 3-day rise on profit taking


The Korea Composite Stock Price Index displayed on an electronic board at Hana Bank headquarters in Seoul fell on Friday, ending a three-session winning streak due to profit taking. The Korean won also decreased in value against the US dollar. The benchmark Kospi closed at 2,784.26, down 0.83 percent, and trade volume was high at 617.53 million shares worth 14.12 trillion won, with more decliners than gainers. Institutions and foreigners sold a combined 365 billion won worth of stocks while individuals purchased stocks valued at 377 billion won. Tech and auto stocks in Seoul led the declines, with companies like Samsung Electronics, SK hynix, Hyundai Motor, and LG Energy Solution experiencing drops, while Korean Air, Asiana Airlines, and Hitejinro Co. saw some gains. The local currency closed at 1,388.30 won against the US dollar, down 3.6 won from the previous session's close. In summary, the Korea Composite Stock Price Index and the Korean won both experienced declines on Friday, with heavy trade volume and more decliners than gainers. Tech and auto stocks in Seoul led the declines, while some companies such as Korean Air, Asiana Airlines, and Hitejinro Co. saw gains. The local currency also decreased in value against the US dollar.


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