South Korean stocks saw a significant decline on Monday due to losses in big-cap technology, while investors await the corporate earnings season and worry about the impact of Sino-US rivalry on business circumstances. The benchmark Korea Composite Stock Price Index closed at 2,523.50, losing a total of 20.90 points or 0.82%. Trading volume was sufficient at 914.5 million shares worth 11.36 trillion won ($8.53 billion), but decliners still outpaced gainers 697 to 203. As investors await the first-quarter earnings reports from major firms, the weak momentum in business is anticipated to surge. The US urged South Korea to persuade chip producers Samsung and SK hynix not to expand manufacturing to China if Beijing prohibits Micron Technology from selling chips, triggering a decline in shares. In addition, the local currency weakened to its lowest yearly point against the US dollar, leading solace in investors to diminish. Nonetheless, car by leading automakers Hyundai Motor and Kia, and Samsung Biologics were the few companies to finish at an equitable standpoint.

>Source link>

>>Join our Facebook Group be part of community. <<

By hassani

Leave a Reply

Your email address will not be published. Required fields are marked *