S.Korean shares retreat from 26-month high as e-commerce firms drag

- File pic

SEOUL: Round-up of South Korean financial markets:

South Korean shares fell on Monday, with e-commerce firms dragging down the benchmark index from a 26-month high, while investors were cautious ahead of major economic indicators due later this week.

The benchmark KOSPI fell 7.40 points, or 0.27%, to 2,751.02 by 0144 GMT, after hitting its highest level since April 5, 2022 in the previous session.

Analysts say U.S. economic data, such as retail sales, will be the most closely-watched market mover this week. Domestically, South Korea will release its 20-day export data on Friday.

Search engine Naver and instant messenger Kakao fell 1.94% and 2.73%, respectively, making the services sector the biggest declining sub-index.

Chipmaker Samsung Electronics fell 1.26% but peer SK Hynix gained 1.81%, while battery maker LG Energy Solution slid 2.15%.

Hyundai Motor climbed 4.48% on a decision to list its India unit in Mumbai. Sister automaker Kia Corp gained 3.26%.

Of the total 927 traded issues, 382 shares advanced, while 480 declined.

Foreigners were net sellers of shares worth 87.2 billion won ($63.18 million) on the main board.

The won was quoted at 1,380.7 per dollar on the onshore settlement platform, 0.10% lower than its previous close at 1,379.3.

In money and debt markets, June futures on three-year treasury bonds rose 0.09 point to 105.02.

The most liquid three-year Korean treasury bond yield fell by 4.4 basis points to 3.209%, while the benchmark 10-year yield fell by 3.7 basis points to 3.274%. - Reuters

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South Korea , Kospi


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