Seoul shares sagged on Thursday dragged down by technology issues as futures and options expiry fuelled market volatility, analysts said. The Bank of Korea's decision to raise interest rates further weighed down shares, already under pressure from Libya tumult and higher oil prices, according to analysts.
The Korea Composite Stock Price Index finished down 0.99 percent at 1,981.58 points. The KOSPI 200 March futures index ended down 3.75 points at 260.45. The KOSPI 200 spot index fell 3.21 points to 260.59. The junior Kosdaq market fell 0.1 percent to 522.17. Foreign investors were sellers of a net 1.17 trillion won ($1.05 billion) worth of stocks, offloading shares for a fourth consecutive session.
Key blue chip technology stocks extended falls after a weak outlook from Texas Instruments added to worries about sectoral earnings. Samsung Electronics fell 2.7 percent, retreating for a fourth straight session, as concerns persisted that its earnings may disappoint on a delayed recovery in TV demand. Shares in LG Display, the world's No 2 flat panel maker after Samsung Electronics, posted the steepest loss among major tech plays, dropping 3.52 percent.
Comments
Comments are closed for this article.