Seoul shares ended lower on Thursday, despite gains on Wall Street. Investors are cautious about whether the US Federal Reserve will continue to raise interest rates to control inflation. The South Korean won also fell against the dollar.
The benchmark Korea Composite Stock Price Index closed at 2,600.23, a decrease of 0.31 percent. Trading volume was moderate, with gainers outnumbering decliners.
Institutions sold more stocks than foreigners and individuals purchased. This resulted in a net sell-off of 319 billion won worth of stocks.
While the Dow Jones Industrial Average and Nasdaq Composite saw slight gains, investors are still concerned about additional rate hikes by the US central bank to control inflation.
In Seoul, large-cap stocks had mixed results. Samsung Electronics, SK hynix Inc., Hyundai Motor Co., and Hanwha Ocean all saw declines. On the other hand, Korean Air Co., SK Innovation Co., and HMM saw gains.
The local currency ended at 1,269.90 won against the dollar, a decrease of 4.3 won from the previous session.
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