South Korean stocks, on Wenesday closed nearly flat as investors remained wary over the spread of the novel coronavirus in the country.
The Korean won rose slightly against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI), rose 1.46 points, or 0.07 per cent, to close at 2,210.34. Trading volume was moderate at 581 million shares worth 6.9 trillion won, with losers outnumbering gainers 537 to 305.
The index had a solid start, reaching as high as 2,226.00, but quickly fell below the flat line after local health authorities reported 15 additional novel coronavirus infections, the biggest daily jump in confirmed cases, raising total to 46.
However, after touching an intra day low of 2,192.20 points, the index bounced back, but could not gain further momentum.
Foreigners dumped a net 220 billion worth of local shares, while institutional investors sold a net 19 billion won. Retail investors bought a net 167 billion won.
Large caps were mixed, although tech shares closed up.
Market kingpin Samsung Electronics rose 0.67 per cent to 60,200 won, while No. 2 chipmaker SK hynix advanced 1.47 per cent to 103,500 won.
Leading carmaker, Hyundai Motor, slid 0.75 per cent to 131,500 won, and its sister company, Kia Motors, fell 0.12 per cent to 41,300 won.
The country’s No. 1 chemical firm, LG Chem, plunged 3.35 per cent to 404,000 won, and pharmaceutical giant Celltrion slipped 1.63 per cent to 181,500 won.
The local currency closed at 1,189.3 won against the dollar, up 0.2 won from the previous session’s close.
Bond prices, which move inversely to yields, closed mixed. Yield on three-year Treasurys rose 1.3 basis points to 1.284 per cent, and the return on the benchmark five-year government bond dropped 0.1 basis point to 1.380 per cent.
– NAN
