{"id":43106,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"http:\/\/myanmarnewswire.com\/?guid=c6c320f0ebf494f3298ad90ee2de99f8"},"modified":"2024-01-10T00:00:00","modified_gmt":"2024-01-10T00:00:00","slug":"seoul-stocks-extend-losing-streak-to-6th-day-ahead-of-u-s-inflation-data","status":"publish","type":"post","link":"https:\/\/myanmarnewswire.com\/seoul-stocks-extend-losing-streak-to-6th-day-ahead-of-u-s-inflation-data\/","title":{"rendered":"Seoul stocks extend losing streak to 6th day ahead of U.S. inflation data"},"content":{"rendered":"
\n South Korean shares closed lower for the sixth consecutive session Wednesday as investors awaited U.S. inflation data. The local currency lost ground against the U.S. dollar.<\/p>\n
The benchmark Korea Composite Stock Price Index (KOSPI) dipped 19.26 points, or 0.75 percent, to close at 2,541.98.<\/p>\n
Trade volume was moderate at 555.7 million shares worth 8.46 trillion won (US$6.4 billion), with losers outnumbering gainers 536 to 338.<\/p>\n
The KOSPI stayed in negative terrain throughout the day, tracking overnight losses on Wall Street.<\/p>\n
Foreign investors offloaded a net 215.5 billion won worth of local shares while individual investors purchased a net 351.5 billion won. Institutions net sold 140.9 billion won worth of local shares, extending their selling spree to a sixth consecutive session.<\/p>\n
“It appears that investors wish to first check the U.S. December consumer price index (CPI), which is due tomorrow evening,” said Jeong Myeong-ji, an analyst at Samsung Securities.<\/p>\n
“That is because faster-than-anticipated inflati
\non may lead to a change in the speed of policy pivot by the Federal Reserve,” Jeong added.<\/p>\n
In Seoul, most large caps closed lower.<\/p>\n
Market bellwether Samsung Electronics tumbled 1.47 percent to 73,600 won, with No. 2 chipmaker SK hynix plunging 2.84 percent to 133,500 won.<\/p>\n
Leading battery maker LG Energy Solution lost 1.68 percent to 410,500 won, and its smaller rival Samsung SDI retreated 3.59 percent to 416,500 won.<\/p>\n
Leading drug maker Celltrion stayed flat at 206,000 won, but top mobile service provider SK Telecom slipped 0.51 percent to 49,000 won.<\/p>\n
Top automaker Hyundai Motor added 0.59 percent to 186,700 won, while its smaller affiliate Kia Motors advanced 1.57 percent to 90,500 won.<\/p>\n
The local currency closed at 1,320.10 won against the dollar, down 4.40 won from the previous session’s close.<\/p>\n
Source: Yonhap News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
South Korean shares closed lower for the sixth consecutive session Wednesday as investors awaited U.S. inflation data. The local currency lost ground against the U.S. dollar.<\/p>\n
The benchmark Korea Composite Stock Price Index (KOSPI) dipped 19.26 point…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\n