Seoul Shares End Profit-Taking Streak Amid Mixed Market Sentiments

SEOUL, Feb. 7 -- Seoul shares saw a decline on Friday as investors shifted their focus to profit-taking after three days of substantial gains. The local currency also weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell by 14.83 points, or 0.58 percent, finishing at 2,521.92.

Trading activity was moderate, with around 411.62 million shares traded, valued at 10 trillion won (approximately $6.98 billion). The day ended with 597 shares declining in value compared to 290 that gained.

Foreign investors and institutions sold a combined net of 448.97 billion won, while retail investors managed to purchase a net worth of 330.66 billion won in shares.

Earlier in the week, the KOSPI had dropped 2.52 percent on Monday due to rising concerns regarding U.S. import tariffs. However, it managed to rebound over three consecutive trading days, increasing by more than 1 percent in each session.

In the United States, markets closed with mixed results overnight, showing a lack of clear direction. The Dow Jones Industrial Average decreased by 0.28 percent, while the Nasdaq composite and the S&P 500 experienced increases of 0.51 percent and 0.36 percent, respectively.

"With a cautious approach becoming more prevalent in the local stock market, it appears that investors are taking profits after the recent rally," noted Lee Sung-hoon, an analyst at Kiwoom Securities.

Throughout Seoul, major blue-chip stocks faced losses, including market leader Samsung Electronics, which decreased by 0.56 percent to 53,700 won. Additionally, competitor SK hynix fell 0.25 percent to 203,000 won.

Shares in the battery and automotive sectors also retreated. Leading battery manufacturer LG Energy Solution dipped by 1.75 percent to 336,000 won, while major automaker Hyundai Motor lost 1.47 percent, closing at 200,500 won.

In a notable drop, state-run Korea Gas plummeted by 13.82 percent to 30,550 won, following the government's announcement that it could not confirm the economic viability of a potential oil and gas reserve in the East Sea.

Conversely, among the few gainers, Hyundai Rotem surged by 11.33 percent to 79,600 won. This rise came in response to a report from a local securities firm predicting improved earnings for the defense equipment manufacturer this year.

As of 3:30 p.m., the local currency exchanged at 1,447.80 won per U.S. dollar, down slightly by 0.10 won from the previous session.

Bond prices, which move inversely to yields, saw a decline. The yield on three-year Treasurys increased by 5.3 basis points to 2.635 percent, while the yield on five-year government bonds also rose by 4.9 basis points, closing at 2.719 percent.

Seoul, Stocks, Market