Seoul: Seoul shares ended lower Monday on tech losses, with investors remaining concerned over the impact of U.S. tariffs on major industries. The Korean won rose against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) fell 9.31 points, or 0.35 percent, to close at 2,645.27. Trade volume was moderate at 491.48 million shares worth 10.46 trillion won (US$7.3 billion), with winners outnumbering losers 448 to 421.
Institutions and foreigners sold stocks worth 90.67 billion won and 204.32 billion won, respectively, offsetting individuals' stock purchases valued at 191.62 billion won.
On Friday, the Dow Jones Industrial Average fell 1.69 percent and the tech-heavy Nasdaq composite declined 2.2 percent due to lackluster economic data. Investors remain wary over upcoming tariffs on cars, chips, and pharmaceuticals, which will be announced by the U.S. government over the next month or sooner. A 25 percent tariff has already been imposed on all steel and aluminum imports, escalating a possible global trade war.
In Seoul, tech stocks were lead decliners. Market bellwether Samsung Electronics fell 1.55 percent to 57,300 won and No. 2 chipmaker SK hynix declined 2.15 percent to 205,000 won. Leading shipbuilder HD Hyundai Heavy Industries dropped 0.83 percent to 298,500 won and steelmaker POSCO Holdings shed 0.35 percent to 281,000 won.
Among gainers, top carmaker Hyundai Motor rose 0.49 percent to 207,000 won and national flag carrier Korean Air climbed 0.82 percent to 24,650 won. Leading battery maker LG Energy Solution gained 1.85 percent to 385,500 won and leading refiner SK Innovation was up 1.13 percent to 133,900 won.
The local currency was quoted at 1,427.40 won against the greenback at 3:30 p.m., up 6.9 won from the previous session.