South Korea’s KOSPI falls 1.76% amid rising oil prices
In Seoul, South Korea, the benchmark Korea Composite Stock Price Index (KOSPI) fell by 124.01 points, or 1.76%, to 6,909.91 points on Friday. At the start of trading, the decline reached 3.29%. Rising oil prices heightened investor concerns about inflation, while the South Korean won weakened against the US dollar, Korea Herald reports.
Investor transactions
Trading volume amounted to 265.92 million shares worth 19.39 trillion won, or about $14.4 billion. The number of declining issues exceeded the number of advancing ones: 473 versus 368.
Retail investors made net purchases of shares worth 1.87 trillion won. Meanwhile, institutional investors made net sales of securities worth 1.22 trillion won, while foreign investors made net sales worth 2.29 trillion won.
Company share performance
Samsung Electronics shares fell 3.53% to 259,500 won, while SK hynix declined 2.21% to 1.81 million won. Hyundai Motor shares dropped 1.67%, LG Energy Solution fell 1.37% to 360,000 won, and SK Innovation lost 5.42%, declining to 144,800 won.
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Meanwhile, HD Hyundai Heavy Industries shares rose 5.62% to 479,000 won. Hanwha Aerospace shares gained 1.31% to 1.08 million won.
In the United States the previous day, the Dow Jones index fell 0.6% and the Nasdaq Composite declined 0.65% amid rising oil prices and escalating tensions in the Middle East. Investors were awaiting the release of the US consumer price index on Friday US time to assess the potential impact of higher energy costs on inflation and the Federal Reserve’s future interest-rate policy.
As of 3:30 p.m., the exchange rate stood at 1,345.9 won per US dollar, compared with 1,339.2 won per dollar at the close of the previous trading session.
