S.Korean stocks snap 6-day win streak after touching record high, won steady

SEOUL: South Korean shares saw a six-day winning streak snapped on Monday, with early gains erased as local institutions accelerated their stock-selling in the afternoon.

The Korea Composite Stock Price Index (KOSPI) closed down 0.1 percent at 2,352.97 points after being up through the morning and touching an intraday record high of 2,371.67.

Domestic institutions sold a net 98.9 billion won ($ 88.18 million) of KOSPI shares while offshore investors bought a net 14.4 billion won worth for the day.

Brokers said the latest North Korea missile test had no impact on Monday’s trading.

The South Korean won moved narrowly throughout the session amid the absence of strong market momentum.

The won was quoted at 1,121.7 to the dollar at the conclusion of onshore trade, little changed from Friday’s close of 1,120.7.

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Markets-The Economic Times

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