Seoul: South Korean stocks ended the session nearly unchanged on Monday, as investors engaged in profit-taking amid heightened uncertainties in the market. The Korean won appreciated against the U.S. dollar during the day.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) experienced a minor decline of 6.22 points, or 0.16 percent, to close at 3,920.37 after a volatile trading session. The trading volume was light, with 293.7 million shares exchanged, valued at 11.69 trillion won (US$7.95 billion). The market saw more gainers than losers, with 489 stocks rising and 380 falling.
Foreign and individual investors were net buyers, acquiring shares worth 215.4 billion won and 52.8 billion won, respectively. However, institutional investors sold off shares amounting to 233 billion won, leading to diminished earlier gains despite a strong start following positive U.S. market trends. On the previous Friday, Wall Street closed higher, with the S and P 500, Dow Jones Industrial Average, and Nasdaq composite all making gains.
The KOSPI's fluctuations were attributed to recent bitcoin market declines and the strong Japanese yen, according to Lee Kyung-min, an analyst at Daeshin Securities. Despite these challenges, the semiconductor sector provided some support to the index's performance.
In terms of individual stocks, major companies showed mixed results. Samsung Electronics rose by 0.3 percent to 100,800 won, and SK hynix saw a 1.51 percent increase to 538,000 won. LG Energy Solution also gained 1.23 percent, while Samsung Biologics increased by 2.61 percent to 1,649,000 won. Conversely, Hanwha Aerospace dropped 4.58 percent to 813,000 won, and Hyundai Motor decreased by 2.68 percent to 254,500 won.
The local currency traded at 1,469.9 won against the U.S. dollar at 3:30 p.m., marking a slight increase of 0.7 won from the previous session. Bond prices, which are inversely related to yields, fell, resulting in an increase in yields. The yield on three-year Treasurys rose by 5.4 basis points to 3.045 percent, while the return on five-year government bonds climbed by 5.7 basis points to 3.233 percent.