Seoul shares snap 4-day bull run on foreign selling binge; won sharply down

Korean shares sank by more than 2 percent Tuesday to snap their four-day winning streak on massive foreign sell-offs. The Korean won sharply lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 100.13 points, or 2.37 percent, to close at 4,121.74, falling back below the 4,200 mark just a day after it reached the milestone. Trade volume was heavy at 421.1 million shares worth 20.7 trillion won ($14.4 billion), with losers outnumbering winners 504 to 380. Foreigners and institutions unloaded local shares worth 2.2 trillion won and 498.5 billion won, respectively, for profit-taking, while retail investors continuing their buying spree by net purchasing 2.7 trillion won. Overnight, the tech-heavy Nasdaq composite gained 0.46 percent on blue-chip tech shares, while the S&P 500 added 0.17 percent. The Dow Jones Industrial Average fell 0.47 percent. Amazon Web Services surged 4 percent following a multiyear $38 billion deal with OpenAI, and Nvidia rose 2.17 percent on news that the Donald Trump administration gave approval to export Nvidia chips for MWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times