Seoul:South Korean shares fell by more than 2 percent Monday, ending their four-day winning streak, as investors locked in profits from large-cap tech shares.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) lost 191.18 points, or 2.7 percent, to end at 6,889.74. After opening 0.33 percent lower, the index experienced a heavy selling spree by foreigners and institutions.
The KOSPI had extended its winning streak to a fourth session through Wednesday but was closed Thursday and Friday for the Chuseok holiday, South Korea's equivalent of Thanksgiving. Investors are also considering various factors, such as rising bond yields and uncertain prospects for the Middle East crisis.