South Korean Stocks Dip on Profit-Taking After Recent Gains

On Tuesday, the stock market in South Korea witnessed a downturn as the Korea Composite Stock Price Index (KOSPI) opened at 2,670.52, which is 9.74 points or 0.36% lower than the previous session. Investors appeared to be locking in gains after the index experienced a significant rise, climbing over 1% on both Friday and Monday, fueled by robust foreign investments.

Major Companies See Shares Fall

Leading firms across various sectors saw their shares decline. Samsung Electronics, the top memory chip manufacturer, saw its shares drop by 0.41%. In the energy sector, LG Energy Solution, a major battery producer, also experienced a 0.5% fall in stock prices. The automotive industry wasn't spared, with Hyundai Motor's shares decreasing by 0.79%, while the financial sector took a hit as KB Financial Group's stock went down by 0.93%.

Local Currency Weakens

The South Korean Won weakened in comparison to the US dollar, trading at 1,337.7 won, which marks a 2.5 won decrease from its previous close.

Seoul, Stocks, KOSPI