The Korea Herald

소아쌤

Seoul shares dip 1.53% on Paris shock

By KH디지털2

Published : Nov. 16, 2015 - 15:32

    • Link copied

South Korean stocks plunged to an almost 3-month low Monday as investors remained concerned that the terrorist attacks in Paris will weigh down the eurozone economy.

The local currency lost ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index fell 30.27 points, or 1.53 percent, to 1,943.02. Trading volume was light at 408.7 million shares worth 4.08 trillion won ($3.48 billion), with decliners surpassing gainers 631 to 200.

Analysts said the Paris attacks, believed to be orchestrated by the Islamic State group, reduced investors' appetite for risky assets. The incident in the French capital Friday night (Paris time) left more than 100 dead, with hundreds more injured.

"The negative impact on the market for the short term is inevitable," said Yoo Seung-min, an analyst at Samsung Securities Co. "Investors are also shunning risky bets due to the upcoming rate hike in the United States."

Foreign investors offloaded a net 234.4 billion won, while individuals raked in a net 113.7 billion won. Institutions bought more shares than they sold at 12.9 billion won.

Tech shares led the decline, with top market cap Samsung Electronics falling 2.85 percent to 1,263,000 won and No. 2 tech firm LG Electronics losing 1.82 percent to 53,800 won. Top chipmaker SK hynix shed 2.09 percent to 30,500 won.

Daewoo Shipbuilding & Marine Engineering shed 6.36 percent to 5,890 won amid the outlook that the firm may post a net loss of 6 trillion won this year.

Builders also closed bearish, with Hyundai Engineering & Construction decreasing 3.77 percent to 30,650 won and Daewoo Engineering & Construction moving down 1.45 percent to 6,130 won.

Carmakers closed mixed, with Hyundai Motor rising 0.96 percent to 158,000 won and Kia Motors advancing 0.35 percent to 56,900 won.

But auto parts maker Hyundai Mobis shed 0.2 percent to 247,000 won.

The local currency ended at 1,174.10 won against the greenback, down 10.30 won from Friday's close, as traders flocked to safer assets. (Yonhap)