KB News Desk
Seoul shares ended lower Thursday as surging oil prices, driven by escalating tensions in the Middle East, fueled inflation concerns ahead of the release of key US inflation data.
The Korean won rose against the US dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index (Kospi) fell 17.72 points, or 0.25 percent, to close at 7,033.92.
Trade volume was moderate at 418.4 million shares worth 28.19 trillion won ($21 billion), with losers outnumbering gainers 443 to 416.
Foreigners sold a net 2.49 trillion won worth of stocks, while institutions and individuals bought a net 461.46 billion won and 362.18 billion won, respectively.
Overnight, US stocks ended lower amid escalating tensions in the Middle East and rising oil prices. The Dow Jones Industrial Average fell 0.77 percent, while the tech-heavy Nasdaq Composite declined 0.64 percent.
Rising oil prices have fueled concerns about inflation and the possibility that the US Federal Reserve could raise interest rates to contain price gains.
Investors are now awaiting Friday’s US consumer price index (CPI) data for clues about the Fed’s future rate path, analysts said.
In Seoul, tech stocks led the decline.
Market bellwether Samsung Electronics fell 0.19 percent to 269,000 won, and its chipmaking rival SK hynix declined 0.16 percent to 1.85 million won.
Leading battery maker LG Energy Solution dropped 1.62 percent to 385,000 won, and leading refiner SK Innovation shed 0.26 percent to 561,000 won.
Among gainers, top carmaker Hyundai Motor rose 0.26 percent to 389,000 won, and defense giant Hanwha Aerospace climbed 1.91 percent to 1.07 million won.
The Korean won was quoted at 1,339.2 won per US dollar as of 3:30 p.m., down 3.1 won from the previous stock trading session’s close. (Yonhap)
