Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
9
Job creation lowest on record among under-30s
-
10
Opposition chief acquitted of instigating perjury
[THE INVESTOR] South Korean shares closed lower on July 29 as investors remained cautious following the disappointing stimulus measures of the Bank of Japan. The Korean won rose against the US dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index lost 4.91 points, or 0.24 percent, to 2,016.19. Trade volume recorded 361.38 million shares worth 4.96 trillion won (US$4.42 billion), with decliners outnumbering advancers 457 to 350.
Local shares started higher after the US Federal Reserve on Thursday stood pat on its policy interest rate, leaving the door open for a rate rise sometime later amid improvement in the global economy and financial markets.
But the local shares fell after the BOJ earlier on July 29 dashed investors’ hopes for more stimulus, going against the market expectations for such a move.
“There is ample room for the market to further increase on the back of firms‘ earnings reports,” said Lee Hyun-joo, an analyst at NH Investment & Securities, noting that investors should approach the market with a positive view.
Foreigners scooped up a net 212.7 billion won worth of local stocks, extending their buying binge for 17 sessions in a row.
Market behemoth Samsung Electronics jumped 2.12 percent to end at 1,539,000 won. A day earlier, the tech giant reported its biggest quarterly operating profit in more than two years, boosted by robust sales of its latest premium smartphone and cost-cutting efforts.
Auto shares ended down, with top automaker Hyundai Motor shedding 2.94 percent to 132,000 won and top auto parts maker Hyundai Mobis tumbling 5.03 percent to 255,500 won.
The local currency closed at 1,120.20 won against the US dollar, up 4.20 won from the previous session’s close.
(theinvestor@heraldcorp.com)
After choppy trading, the benchmark Korea Composite Stock Price Index lost 4.91 points, or 0.24 percent, to 2,016.19. Trade volume recorded 361.38 million shares worth 4.96 trillion won (US$4.42 billion), with decliners outnumbering advancers 457 to 350.
Local shares started higher after the US Federal Reserve on Thursday stood pat on its policy interest rate, leaving the door open for a rate rise sometime later amid improvement in the global economy and financial markets.
But the local shares fell after the BOJ earlier on July 29 dashed investors’ hopes for more stimulus, going against the market expectations for such a move.
“There is ample room for the market to further increase on the back of firms‘ earnings reports,” said Lee Hyun-joo, an analyst at NH Investment & Securities, noting that investors should approach the market with a positive view.
Foreigners scooped up a net 212.7 billion won worth of local stocks, extending their buying binge for 17 sessions in a row.
Market behemoth Samsung Electronics jumped 2.12 percent to end at 1,539,000 won. A day earlier, the tech giant reported its biggest quarterly operating profit in more than two years, boosted by robust sales of its latest premium smartphone and cost-cutting efforts.
Auto shares ended down, with top automaker Hyundai Motor shedding 2.94 percent to 132,000 won and top auto parts maker Hyundai Mobis tumbling 5.03 percent to 255,500 won.
The local currency closed at 1,120.20 won against the US dollar, up 4.20 won from the previous session’s close.
(theinvestor@heraldcorp.com)
