South Korean shares fall on profit taking
South Korean shares fell on Tuesday, dragged down by automakers, as investors booked profit after the benchmark index hit a nearly four-year high in the previous session.
The benchmark KOSPI lost 5.50 points, or 0.17%, to 3,196.53 as of 0125 GMT. On Monday, it hit the highest since early September 2021.
'The KOSPI is expected to remain around the 3,200 level, where buying and selling pressures persist,' Kiwoom Securities analysts said.
Among index heavyweights, chipmaker Samsung Electronics rose 0.80%, while peer SK Hynix lost 3.17%. Battery maker LG Energy Solution added 0.63%.
Hyundai Motor and sister automaker Kia shed 2.53% and 2.62%, respectively. Steelmaker POSCO Holdings fell 0.47%, while drugmaker Samsung BioLogics eased 0.1%.
Of the total 932 traded issues, 283 advanced and 606 declined.
South Korean shares hit near 4-year high on market reform hopes
Foreigners were net sellers of shares worth 44.5 billion won ($32.1 million).
The won was quoted at 1,383.3 per dollar on the onshore settlement platform, 0.02% lower than Monday's close at 1,383.0.
In the money and debt markets, September futures on three-year treasury bonds gained 0.01 point to 107.15.
The most liquid three-year Korean treasury bond yield rose 0.1 basis point to 2.474%, while the benchmark 10-year yield fell 0.3 basis point to 2.884%.
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