SEOUL, April 09 (AJP) - Asian markets opened broadly lower on Thursday, giving back some of the previous session's sharp gains after the United States and Iran effectively agreed to a Pakistan-mediated two-week truce.
As investors monitored the course of Washington-Tehran negotiations, South Korean stocks were weighed by profit-taking following Wednesday’s sharp jump and a large block sale of Samsung Electronics shares.
The main index fell 0.99 percent to 5,814.40, and the tech-heavy KOSDAQ declined 0.96 percent to 1,079.36 as of 11:10 a.m.
Samsung Electronics fell more than 3 percent in early trading on Thursday, following a large block sale by the late chairman Lee Kun-hee's widow Hong Ra-hee. Hong, mother of Samsung Group chief Lee Jae-yong sold 15 million shares worth about 3.08 trillion won ($2.3 billion) at a 2.5 percent discount to the previous close to complete the inheritance tax following the patriarch's death in 2020. Shares were down 3.33 percent at 203,500 won in the morning trade.
Shares of SK Hynix also declined, falling 2.81 percent to 1,004,000 won, with the two heavyweights weighing on the broader KOSPI.
Among other large caps, battery shares were mixed, with LG Energy Solution rising 2.59 percent to 416,500 won and Samsung SDI gaining 2.65 percent to 484,000 won.
Defense and industrial names were weaker, with Hanwha Aerospace dropping 2.43 percent to 1,448,000 won and HD Hyundai Heavy Industries slipping 0.67 percent to 481,250 won.
Automakers were mixed, as Hyundai Motor fell 1.38 percent to 501,000 won, while Kia edged up 0.75 percent to 160,400 won.
Financial shares were mixed, with KB Financial Group rising 0.77 percent to 157,200 won and Shinhan Financial Group gaining 1.76 percent to 98,400 won, while Samsung Life Insurance slid 5.24 percent to 226,000 won.
Elsewhere in Asia, Japan's Nikkei 225 fell 0.77 percent to 55,873.60 after recent gains, Hong Kong's Hang Seng Index declined 0.88 percent to 25,665.20. Chinese stocks also traded lower, with the Shanghai Composite Index falling 0.70 percent to 3,966.90.
The dollar edged up to 1,481.90 won, compared with 1,470.6 won at the previous close.
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