Seoul: South Korean stocks ended a three-day winning streak on Thursday as investors opted to secure profits, coinciding with relaxed concerns over tariffs. The South Korean won saw a notable increase against the U.S. dollar.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) decreased by 19.21 points, or 0.73 percent, closing at 2,621.36. The index had previously experienced gains from Monday to Wednesday, fueled by optimism surrounding a trade agreement between the United States and China earlier in the week.
Trade volume was recorded at a moderate 333.4 million shares, valued at 7.13 trillion won (approximately US$5.13 billion). The market saw 592 declining stocks compared to 296 advancing ones. Institutional investors significantly contributed to the decline, offloading a net 385.8 billion won. In contrast, foreign investors purchased a net 264.4 billion won, while individual investors acquired a net 71.7 billion won.
A majority of major stocks closed lower, with chipmakers among the hardest hit. Samsung Electronics dropped by 0.17 percent to 57,300 won, and SK hynix fell by 2.67 percent to 200,500 won. In the automotive sector, Hyundai Motor decreased by 2.13 percent to 192,900 won, and Kia slipped by 1.3 percent to 91,200 won. The pharmaceutical company Celltrion declined by 0.52 percent to 153,500 won, and Nongshim, a prominent noodle manufacturer, fell by 1.66 percent to 415,000 won.
Conversely, retail giant Shinsegae saw a rise of 2.06 percent to 168,400 won, following a meeting between its Chairman Chung Yong-jin and U.S. President Donald Trump in Qatar.
The South Korean won was quoted at 1,394.5 against the U.S. dollar at 3:30 p.m., marking an increase of 25.7 won from the previous session. The currency has been on an upward trajectory since Wednesday evening, after reports surfaced about discussions between South Korean and U.S. officials regarding foreign exchange market policies.
Bond prices fell, reflecting an increase in yields. The yield on three-year Treasurys rose by 1.1 basis points to 2.362 percent, while the yield on five-year government bonds increased by 1.4 basis points to 2.496 percent.