South Korean Stock Market Today: KOSPI Trims Gains as Tech Stocks Weigh Under Foreign Selling
Seoul, March 20: South Korean equities pared early gains on Friday morning, with the benchmark KOSPI index turning volatile as heavyweight technology stocks came under pressure due to sustained foreign selling.The Korea Composite Stock Price Index (KOSPI) was up 26.43 points, or 0.46 percent, at 5,789.65 as of 11:20 a.m., after surrendering part of its earlier advance, according to Yonhap news agency.
Foreign Outflows Drag Market Momentum
Market direction shifted as foreign investors offloaded shares worth 1.26 trillion won (approximately $842 million). However, the selling pressure was partially offset by domestic participation. Retail investors purchased equities worth 746.4 billion won, while institutional investors added 524.8 billion won.Global Cues Remain Mixed Amid Geopolitical Developments
Overnight, U.S. markets closed lower, reflecting cautious sentiment. The Dow Jones Industrial Average declined 0.44 percent, the Nasdaq Composite fell 0.28 percent, and the S&P 500 slipped 0.27 percent.However, losses were trimmed after comments from Israeli Prime Minister Benjamin Netanyahu suggested that the conflict with Iran could conclude sooner than expected. He also indicated that U.S. President Donald Trump had requested no further strikes on Iranian energy infrastructure.
Earlier in the week, tensions escalated after Israel targeted Iran’s South Pars gas field, the country’s largest, prompting retaliation from Iran with a strike on a key liquefied natural gas facility in Qatar.
Tech Stocks Decline, While Select Sectors Gain
In Seoul trading, major technology stocks declined, weighing on the broader index. Samsung Electronics slipped 0.25 percent, while SK Hynix dropped 0.2 percent.On the other hand, gains were seen in select sectors:
- LG Energy Solution rose 0.94 percent
- Doosan Enerbility surged 3.29 percent
- Samsung Biologics jumped 2.4 percent
- Celltrion added 0.62 percent
- Shinhan Financial gained 1.14 percent
- Mirae Asset Securities climbed 1.95 percent
- Samsung C&T rose 2.92 percent
Decliners Include AI, Defence, and Industrial Stocks
Several stocks recorded losses during the session:- SK Square fell 1.8 percent
- Hanwha Aerospace dropped sharply by 4.73 percent
- HD Hyundai Heavy declined 0.71 percent
- Samsung Electro-Mechanics slipped 2.71 percent
Korean Won Recovers Slightly After Recent Weakness
In the currency market, the Korean won traded at 1,496.6 per U.S. dollar, strengthening by 4.4 won compared to the previous session.The recovery comes after the won hit a 17-year low on Thursday, breaching the key 1,500 won per dollar level, a psychologically significant threshold for the market.
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