Seoul shares down for 3rd day on US tech slump


South Korean stocks closed lower on Tuesday, marking a third consecutive day of losses, following a downward trend on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) dropped 0.32 percent to close at 2,689.25, with trade volume at 259.7 million shares worth 7.95 trillion won. Despite more winners than losers, the local currency weakened against the US dollar, trading at 1,331 won as of 3:30 p.m. Institutional investors bought a net 36.9 billion won worth of shares, while individuals and foreign investors combined sold a net 40.9 billion won. The US stock market closed with mixed results, with the Dow Jones Industrial Average rising 0.16 percent, while the S&P 500 and Nasdaq composite fell 0.32 percent and 0.85 percent, respectively. Tech companies like Nvidia, Micron, and AMD experienced declines, attributed to concerns over Nvidia's upcoming earnings release. In Seoul, major companies such as Samsung Electronics, SK hynix, Hyundai Motor, and Kia saw their stock prices decrease, while battery and bio giants like LG Energy Solution, Samsung SDI, Samsung Biologics, and Celltrion had mixed performances.


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