Seoul: South Korean stocks finished slightly lower Thursday as investors awaited tariff talks with the United States amid concerns over economic growth. The local currency weakened against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) fell by 3.23 points, or 0.13 percent, closing at 2,522.33.
Trade volume remained slim, with 323.69 million shares traded, valued at 7.22 trillion won (US$5.03 billion). Losers outnumbered winners 457 to 403. Institutions and foreign investors sold a net 198.44 billion won and 7.41 billion won worth of stocks, respectively, while individuals purchased 134.89 billion won worth of shares.
The index began the day slightly lower, despite gains on Wall Street, and fluctuated within a narrow range before ending the session with a minor decline. Investor sentiment was impacted after government data revealed an unexpected 0.2 percent contraction in gross domestic product (GDP) for the first quarter, compared to the previous quarter, amid a domestic political crisis and uncertainties related to the Donald Trump administration's tariff policies.
Attention is focused on the upcoming tariff discussions in Washington, following the U.S.' decision to pause the 25 percent reciprocal tariffs on South Korean imports for 90 days. Industry Minister Ahn Duk-geun stated that the government aims to find "a swift solution" to the U.S. auto tariffs and will discuss trade, shipbuilding, and energy cooperation with the U.S. "in a calm and prudent manner."
Tech shares contributed to the index's decline. Samsung Electronics ended the session unchanged at 55,700 won, while SK hynix fell 1.49 percent to 178,300 won. LG Energy Solution decreased by 2.15 percent to 341,500 won, and POSCO Holdings dropped 1.15 percent to 257,000 won.
Samsung Biologics and Celltrion saw declines of 1.88 percent and 0.81 percent, respectively, while Hyundai Motor and Kia also experienced decreases. In contrast, Hanwha Aerospace and HD Hyundai Heavy posted gains of 1.23 percent and 2.45 percent, respectively.
The local currency was quoted at 1,435 won against the U.S. dollar at 3:30 p.m., a decrease of 14.4 won from the previous session.