+ A

Stocks down for fifth day as foreigners unload

Aug 07,2019
Shares retreated for a fifth day on Tuesday as foreign investors and individuals remained net sellers. The won was unchanged against the dollar.

The benchmark Kospi fell 29.48 points, or 1.51 percent, to close at 1,917.50. The index hit its lowest point since Feb. 26, 2016, when the comparable figure was at 1,916.66. In the morning session, the index fell below the 1,900 mark, dropping as low as 1,891.81.

Trading volume was high at 729.6 million shares worth 7.1 trillion won ($5.8 billion), with losers far outpacing gainers at 693 to 160.

Foreign investors net offloaded 607.1 billion won worth of shares, and individuals net sold shares worth 442 billion won. Institutions, on the other hand, net purchased 1.03 trillion won worth of shares.

The vast majority of large cap shares ended lower across the board.

Samsung Electronics lost 1.02 percent to 43,500 won, and No. 2 chipmaker SK Hynix retreated 4.51 percent to 72,000 won. LG Electronics shed 2.27 percent to 60,200 won.

Auto shares ended lower. Hyundai Motor fell 1.18 percent to 126,000 won, and Kia Motors receded 3.81 percent to 41,650 won. Auto parts maker Hyundai Mobis lost 2.27 percent to 237,000 won.

Mobile carriers went south as well. SK Telecom shed 1.98 percent to 247,500 won, and KT inched down 0.18 percent to 27,900 won. Their smaller rival LG U+ fell 2.23 percent to 13,150 won.

Game companies ended lower, too. NCSoft fell 2.68 percent to 508,000 won, and Netmarble shed 0.23 percent to 88,100 won. Kakao retreated 0.41 percent to 122,000 won.

Bio shares ended mixed. Celltrion inched up 0.69 percent to 146,500 won, while Samsung BioLogics fell 2.13 percent to 253,000 won. Hanmi Pharmaceutical inched down 0.74 percent to 269,000 won.

Tobacco maker KT&G lost 0.52 percent to 96,000 won, and LG Chem shed 1.74 percent to 310,000 won. Naver gained 0.36 percent to 138,500 won.

The Kosdaq continued to fall, declining 18.29 points, or 3.21 percent, and closed at 551.50.

The index went south as individuals mass offloaded local stocks to offset the net purchases of foreign investors and institutions.

The local currency remained unchanged at 1,215.30 won against the dollar.

Bond prices, which move inversely to yields, ended mixed. The yield on three-year bonds lost 0.9 basis points to 1.163 percent, but the 10-year bond gained 0.3 basis points to 1.256 percent.

BY KO JUN-TAE [ko.juntae@joongang.co.kr]