March 4, 2021

The Seoul Stock Exchange falls for the second consecutive day among uncertainties

The Seoul Stock Exchange fell on Tuesday for the second straight day in the face of lingering uncertainties surrounding the diplomatic crisis between Japan and South Korea and the possibility of a future rate hike in the US, according to local analysts.

The Kospi, main indicator in Seoul, fell 0.59% or 12.14 points today, to 2,052.03 integers, while the Kosdaq technology index lost 1.63% or 10.92 points, to 657.8 units .

After the fall on Monday, the Kospi opened upwards by the bargain hunting, although towards the end of the session the participants chose to save positions ahead of the appearance on Wednesday of the president of the Fed, Jerome Powell, before the Congress, where new clues could be obtained about the direction of monetary policy in the US.

The crisis between Seoul and Tokyo, which has limited exports to the neighboring country of key materials for the manufacture of screens or semiconductors, continued to plan on the floor, although the South Korean technology bounced back today after the sharp falls on Monday.

Samsung Electronics, a benchmark in Seoul, rose 1.58%, while chip maker SK Hynix rose 3.56%.

In contrast, the operator of the largest South Korean Internet portal, Naver, was left 2.53% and the largest domestic car manufacturer, Hyundai Motor, lost 0.72%.

. (tagsToTranslate) Stock (t) Seoul (t) second (t) consecutive (t) uncertainties

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