Seoul shares ended lower on Friday due to losses in the tech industry following concerns over China’s ban on Apple products for government officials and the possibility of the Federal Reserve raising interest rates. The benchmark Korea Composite Stock Price Index fell slightly, extending its losses for the fourth session. Trading volume was moderate, with more losers than gainers. China’s plan to expand its ban on iPhones in government agencies and state-owned companies negatively affected tech firms that rely heavily on the Chinese market. Investors are also worried about potential interest rate hikes by the Federal Reserve, as economic indicators have been positive. In terms of stock performance in Seoul, tech and auto companies experienced declines, while airline Korean Air, power company Korea Electric Power Corp., and steelmaker Posco Holdings saw gains. The Korean won rose against the US dollar.

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By hassani

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