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Stocks
S.Korean shares fall on Syria concerns
Last Updated: 2013-09-02 15:38 | Xinhua
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South Korean shares fell for the first time in three sessions on Monday as possible U.S. strike against Syria boosted concerns over political turmoil in the Middle East.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 1. 55 points, or 0.08 percent, to close at 1,924.81. Trading volume stood at 240 million shares worth 3.37 trillion won (3.06 billion U.S. dollars).

Investors refrained from taking aggressive positions in the stock market amid mounting uncertainties in Syria. U.S. lawmakers will vote a draft resolution that asks for the authorization of military strikes on Syria on Sept. 9 after a summer break.

The strike would boost political turmoil in the Middle East, leading to volatilities in the global oil prices and the financial markets.

Foreign investors bought a net 56.8 billion won worth of shares after selling local stocks earlier in the trading. Institutional investors purchased shares worth 68.9 billion won, but retail investors dumped a net 130.3 billion won worth of shares.

Large-cap shares mostly ended in negative territory. Market bellwether Samsung Electronics fell 1.2 percent, and top automaker Hyundai Motor declined 1.8 percent. The nation's No.2 carmaker Kia Motors slid 1.5 percent.

Other large-cap shares, including POSCO, Samsung Life Insurance and SK Telecom, ended bearish, but LG Chem, Hyundai Mobis and SK Hynix ended in positive terrain, limiting the KOSPI's further decline.

The South Korean currency finished at 1,100.5 won against the greenback, up 9.5 won from Friday's close.

Bond prices ended lower. The yield on the liquid three-year treasury notes rose 0.04 percentage point to 2.92 percent, and the return on the benchmark 10-year government bonds climbed 0.06 percentage point to 3.59 percent.

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