South Korean stocks fell slightly Tuesday as investors unloaded tech shares including Samsung Electronics, affected by overnight U.S. losses and a rebound in international crude prices.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 1.69 points, or 0.11 percent, to end at 1,561.23. Volume was light at 248.96 million shares worth 3.4 trillion won ($3.34 billion), with losers outpacing gainers 420 to 361.
"The market sentiment was hurt by overnight Wall street losses and rising oil prices," Park So-yeon, an analyst at Korea Investment & Securities, was quoted as saying by Yonhap News. "Profit-taking following the previous day's rally and foreign selling also weighed on the market."
Foreigners sold more than they bought for the 32nd consecutive day Tuesday, with their net sale amounting to 204.17 billion won.
Tech giant Samsung Electronics fell 1.5 percent to 590,000 won, while LG Electronics plunged 3.08 percent to 110,000 won. Chipmaking giant Hynix Semiconductor was down 1.89 percent to 23,400 won.
Shipbuilders ended in negative territory. Top shipyard Hyundai Heavy Industries fell 0.33 percent to 301,500 won, while second-ranked Samsung Heavy Industries shed 0.25 percent to 40,100 won.
However, builders rebounded from their weak starts. Industry leader Daewoo Engineering & Construction surged 3.28 percent to close at 12,600 won after falling to as low as 11,500 won in midday trading.
Financial shares traded mixed. The nation's top lender Kookmin Bank gained 1.41 percent to 57,500 won, but No. 1 non-life insurer Samsung Fire & Marine Insurance inched down 0.27 percent, closing
lower for the second consecutive day after announcing that it will lower auto insurance premiums starting next month.
The Korean currency closed at 1,017.6 won against the dollar, up 0.4 won from Monday's close on speculation that the government unloaded the greenback to boost the declining won.