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South Korean stocks fall on foreign selling
Last Updated: 2018-12-06 16:11 | Xinhua
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South Korean stocks declined on Thursday as foreigners dumped local stocks amid uncertainty over trade conflict among major economies, market watchers said.

The benchmark Korea Composite Stock Price Index (KOSPI) dipped 32.62 points, or 1.55 percent, to settle at 2,068.69. Trading volume stood at 528.2 million shares worth 5.4 trillion won (4.8 billion U.S. dollars).

It was the lowest close this year, marking the biggest daily fall since Oct. 26 last year.

Foreign investors offloaded local stocks amid lingering worry about the global trade conflict. Institutional and retail investors were net buyers, limiting the KOSPI's further decline.

Concerns remained about the slowdown of the domestic economy. The country's real gross domestic product (GDP) rose 0.6 percent in the third quarter from the previous quarter as facility investment tumbled in the quarter.

Export grew 3.9 percent in the third quarter, leading the export-driven economy, but sentiment among consumers weakened in recent months.

Most blue-chip stocks lost ground. Market bellwether Samsung Electronics dipped 2.3 percent, and memory chip giant SK Hynix slumped 3.2 percent. The major biopharmaceutical company Celltrion slipped 2.7 percent, and leading chemical firm LG Chem lost 0.3 percent.

The biggest steelmaker POSCO shed 0.4 percent, but top carmaker Hyundai Motor advanced 2.8 percent. The No.1 mobile operator SK Telecom gained 2 percent.

South Korea's currency finished at 1,120.3 won against the greenback, down 6.2 won from the prior close.

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