On Friday, the Seoul stock market experienced a decline after three consecutive days of gains, with investors selling off stocks to lock in profits following a bearish performance in the US market and a drop in the local currency's value against the US dollar. The Korea Composite Stock Price Index fell by 34.35 points, or 1.19 percent, to reach 2,857, with heavy trade volume amounting to 399 million shares worth 13.7 trillion won. Foreign investors sold a net 549 billion won, while individuals bought a net 473 billion won and institutions purchased a net 82 billion won. The US inflation for June decreased by 0.1 percent compared to the previous month, the first monthly decline since May 2020, raising expectations for a Federal Reserve rate cut later in the year. However, Wall Street's major tech shares experienced significant losses overnight, prompting analysts to focus on profit-taking movements rather than a shift in market direction. In Seoul, tech and auto shares led the overall market decline, with notable drops in the share prices of top tech companies such as Samsung Electronics and chipmaker SK hynix, as well as leading automakers including Hyundai Motors and Kia. On a positive note, pharmaceutical companies in Seoul saw higher stock prices, with Samsung Biologic and Celltrion both experiencing gains. The local currency also depreciated against the US dollar, trading at 1,379.3 won at 3:30 p.m., down 0.8 won from the previous session.