SEOUL, November 13 (AJP) - South Korean stocks surrendered an early rally of more than 2 percent Friday afternoon, as foreign selling dragged the KOSPI into negative territory and weighed on chip stocks. The KOSPI fell 0.67 percent to 5,306.74 as of 1:43 p.m., while the junior KOSDAQ held onto a 1.48 percent gain at 706.81.
Foreign investors sold a net 354.6 billion won ($265 million) of KOSPI shares, reversing their morning purchases. SK hynix dropped 3.19 percent to 1,214,000 won, while Samsung Electronics edged down 0.12 percent to 207,750 won. The reversal followed a capital-market policy meeting chaired by President Lee Jae Myung that ended without concrete new measures, disappointing investors.
Tags: KOSPI, KOSDAQ, foreign investor selling, SK hynix, Samsung Electronics, Lee Jae Myung
Foreign investors sold a net 354.6 billion won ($265 million) of KOSPI shares, reversing their morning purchases. SK hynix dropped 3.19 percent to 1,214,000 won, while Samsung Electronics edged down 0.12 percent to 207,750 won. The reversal followed a capital-market policy meeting chaired by President Lee Jae Myung that ended without concrete new measures, disappointing investors.
Tags: KOSPI, KOSDAQ, foreign investor selling, SK hynix, Samsung Electronics, Lee Jae Myung
Ryu Yuna
Yuna Ryu covers finance, capital markets and Southeast Asian affairs.
She is drawn to the questions that numbers raise and the stories that data alone cannot answer.
Prior to journalism, she worked at Hyundai Motor Company and the Singapore Chamber of Commerce, focusing on business strategy and international affairs. She has also hosted diplomatic receptions and international conferences as an MC.
Ryu holds a master's degree in Media and Communication from Korea University, where her research focused on neuroscience-based studies of media effects.
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