US inflation makes the Seoul stock market lose 0.18%

Several South Korean brokers work at KEB Hana Bank in Seoul, South Korea, in a file photo. EFE / Kim Hee-chul

Seoul, Nov 11 (EFE) .- The Seoul stock market fell today and its main indicator, the Kospi, lost 0.18% conditioned by the US inflation data for October, which showed the highest price rise in more than 30 years.
The South Korean benchmark fell 5.25 points to 2,924.92 integers, while the Kosdaq technology index gained 4.9 points, or 0.5%, to 992.65 units.
Institutional investor sales were key again today, after trading a net worth around 238 billion won (about $ 201 million) during trading.
The Kospi remained in the red throughout the day after Wednesday’s fall on Wall Street, where the Dow Jones of Industriales and Nasdaq fell 1.66% and 0.66%, after the US CPI for October rose 6.2%.
The data, well above expectations, makes one fear an advance of the stimulus cuts by the Federal Reserve (Fed).
The most capitalized stock on the Seoul Stock Exchange, tech giant Samsung Electronics, lost 0.57%, while SK Hynix, the second largest global memory chip maker, fell 0.92%.
Naver, operator of the most used search engine in South Korea, lowered its value by 1.81%, and Kakao, the company behind the most popular instant messaging application in the Asian country, rose 1.21%.
In the biopharmaceutical sector, Samsung Biologics depreciated 0.12%, and its rival Celltrion fell 0.7%.
In turn, Hyundai Motor, the main South Korean vehicle manufacturer, worsened by 1.68%.



Reference-www.infobae.com

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