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[THE INVESTOR] South Korean shares closed lower on June 23 putting a halt to a four-day straight rise, as investors wait for the upcoming vote regarding Britain’s membership of the European Union. The local currency increased against the U.S. dollar.
The benchmark Korea Composite Stock Price Index fell 5.87 points, or 0.29 percent, to 1986.71. Trade volume remained moderate at 449.59 million shares worth 4.16 trillion won (US$3.6 billion).
As the upcoming British referendum will have a significant impact on the market, investors are carefully measuring the outcome to be announced on June 24 before making decisions on future investment, analysts said.
Institutions and foreigners purchased a combined 217.7 billion won worth of domestic stocks. Individuals sold a net 265.9 billion won in stocks.
Among those who saw a decline, Samsung Electronics slid 1.04 percent to 1,430,000 won, electric provider Korea Electric Power Corp. edged down 1.18 percent to 58,500 won, and refiner giant SK Innovation fell 0.68 percent to 145,000 won.
Supporting the broader market, top automaker Hyundai Motor soared 0.71 percent to 141,000 won and No. 2 chipmaker SK hynix increased 2.58 percent to 31,750 won.
In contrast, No. 2 container carrier Hyundai Merchant Marine jumped 29.96 percent to 15,400 won as it has initiated negotiations to join a shipping alliance, a core condition in receiving a fresh fund from its creditors amid corporate restructuring.
The local currency closed at 1,150.20 won against the US dollar, up 4.20 won from the previous session‘s close.
(theinvestor@heraldcorp.com)
The benchmark Korea Composite Stock Price Index fell 5.87 points, or 0.29 percent, to 1986.71. Trade volume remained moderate at 449.59 million shares worth 4.16 trillion won (US$3.6 billion).
As the upcoming British referendum will have a significant impact on the market, investors are carefully measuring the outcome to be announced on June 24 before making decisions on future investment, analysts said.
Institutions and foreigners purchased a combined 217.7 billion won worth of domestic stocks. Individuals sold a net 265.9 billion won in stocks.
Among those who saw a decline, Samsung Electronics slid 1.04 percent to 1,430,000 won, electric provider Korea Electric Power Corp. edged down 1.18 percent to 58,500 won, and refiner giant SK Innovation fell 0.68 percent to 145,000 won.
Supporting the broader market, top automaker Hyundai Motor soared 0.71 percent to 141,000 won and No. 2 chipmaker SK hynix increased 2.58 percent to 31,750 won.
In contrast, No. 2 container carrier Hyundai Merchant Marine jumped 29.96 percent to 15,400 won as it has initiated negotiations to join a shipping alliance, a core condition in receiving a fresh fund from its creditors amid corporate restructuring.
The local currency closed at 1,150.20 won against the US dollar, up 4.20 won from the previous session‘s close.
(theinvestor@heraldcorp.com)
