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[THE INVESTOR] South Korean stocks closed slightly lower on July 27 as investors took a wait-and-see stance ahead of the US policy rate-setting meeting later this week. The local currency fell against the US dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index shed 2.29 points, or 0.1 percent, to 2,025.05.
Trading volume was moderate at 402.25 million shares worth 4.43 trillion won (US$3.90 billion), with losers outnumbering gainers 483 to 303.
Market analysts said investors are increasingly turning their eyes to a two-day Federal Open Market Committee meeting. The results will be available early on July 28 in South Korea.
“This week’s FOMC will be a tipping point after the global market recovered on eased monetary policy,” said Lee Joon-hee, an analyst at NH Investment & Securities.
Foreign investors offloaded a net 243.9 billion won worth of local stocks, extending their buying binge for 15 sessions in a row.
Market bellwether Samsung Electronics inched down 0.20 percent to close at 1,527,000 won. The tech giant is set to announce its quarterly earnings reports July 28.
Flat-screen maker LG Display jumped 4.10 percent to 30,450 won.
Earlier in the day, the company said it swung to a net loss in the second quarter from a year earlier largely due to weak panel prices and lower shipments.
Top carmaker Hyundai Motor gained 0.74 percent to finish at 137,000 won. The state-run Korea Electric Power Corp. was off 0.80 percent to 61,800 won.
The local currency ended at 1,134.20 won against the US dollar, down 0.70 won from previous session’s close.
(theinvestor@heraldcorp.com)
After choppy trading, the benchmark Korea Composite Stock Price Index shed 2.29 points, or 0.1 percent, to 2,025.05.
Trading volume was moderate at 402.25 million shares worth 4.43 trillion won (US$3.90 billion), with losers outnumbering gainers 483 to 303.
Market analysts said investors are increasingly turning their eyes to a two-day Federal Open Market Committee meeting. The results will be available early on July 28 in South Korea.
“This week’s FOMC will be a tipping point after the global market recovered on eased monetary policy,” said Lee Joon-hee, an analyst at NH Investment & Securities.
Foreign investors offloaded a net 243.9 billion won worth of local stocks, extending their buying binge for 15 sessions in a row.
Market bellwether Samsung Electronics inched down 0.20 percent to close at 1,527,000 won. The tech giant is set to announce its quarterly earnings reports July 28.
Flat-screen maker LG Display jumped 4.10 percent to 30,450 won.
Earlier in the day, the company said it swung to a net loss in the second quarter from a year earlier largely due to weak panel prices and lower shipments.
Top carmaker Hyundai Motor gained 0.74 percent to finish at 137,000 won. The state-run Korea Electric Power Corp. was off 0.80 percent to 61,800 won.
The local currency ended at 1,134.20 won against the US dollar, down 0.70 won from previous session’s close.
(theinvestor@heraldcorp.com)
