eseoulpost
DomesticEconomy
Seoul stocks sink 3 pct on coronavirus scare, Korean won sharply down
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2020.01.28  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   
 

SEOUL, Jan. 28 (Yonhap) -- South Korean stocks sank by more than 3 percent on Tuesday as the Wuhan coronavirus quickly spreading around the globe hurt investor sentiment, taking a toll on most market heavyweights. The local currency also fell sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 69.41 points, or 3.09 percent, to close at 2,176.72. Trading volume was high at 800 million shares worth 8.64 trillion won (US$7.34 billion), with losers far outnumbering gainers 816 to 82.
The Tuesday closing marked the steepest decline since the 4.44 percent drop posted on Oct. 11, 2018.
The local financial market was closed on Friday and Monday for the Lunar New Year holiday.
Investor sentiment is gripped by growing concern over the coronavirus, which is expected to have an adverse impact on domestic consumption and possibly hinder the economic growth of China, the top trading partner of South Korea.
An electronic signboard in the dealing room of KEB Hana Bank in downtown Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) losing 69.41 points, or 3.09 percent, to close at 2,176.72 on Jan. 28, 2020, amid escalating woes over the spread of the Wuhan coronavirus. (Yonhap)
"Amid the rising number of patients, investors are in a rush to safe havens," Lee Kyung-soo, a researcher at Meritz Securities Co., said. "This issue will especially hurt the consumer goods, travel and leisure segments."
The country reported its fourth confirmed case of the Wuhan virus, with the third and fourth patients known to have been in contact with many citizens here, raising concerns that the novel virus may spread across the country.
The Wuhan coronavirus, first reported on Dec. 31, 2019, was originally believed to be passed to humans from animals but is now known to be transmissible from person to person, although victims may be contracting the virus by coming in contact with saliva and other bodily fluids rather than through airborne factors.
Beijing said the number of patients hovered above 4,500, with more than 100 deaths being reported so far.
Foreigners sold a net 523 billion won, extending their selling streak to a fourth consecutive session. Retail investors bought a net 668 billion won, while institutions dumped a net 192 billion won.
Shares lost ground across the board, with retailers and foodstuff makers bearing the brunt of the deadly virus.
Top tech giant Samsung Electronics moved down 3.29 percent to 58,800 won, and No. 2 chipmaker SK hynix slid 2.43 percent to 96,300 won. LG Display lost 1.68 percent to 14,600 won.
Retailers sharply lost ground on concerns that the spread of the virus is weighing on consumer sentiment, with duty-free operator Lotte Shopping plunging 7.31 percent to 120,500 won and No. 1 retailer E-Mart losing 3.81 percent to 113,500 won. Hotel Shilla surrendered 10.31 percent to 87,000 won.
Foodstuff makers also finished weaker, with Orion losing 5.53 percent to 102,500 won and CJ Cheiljedang sliding 2.81 percent to 242,500 won. Hite Jinro, a major liquor maker, shed 3.68 percent to 31,450 won.
Monalisa, a mask producer, increased by the daily permissible limit of 29.86 percent to 8,090 won, as the demand for hygiene products has been running high here.
Top pharmaceutical firm Samsung BioLogics also moved up 2.28 percent to 494,000 won.
The local currency closed at 1,176.70 won to the dollar, down 8 won from the previous session's close, sinking to a two-month low.
Bond prices, which move inversely to yields, closed sharply higher. The yield on three-year Treasurys fell 7.2 basis point to 1.352 percent, and the return on the benchmark five-year government bond lost 8.7 basis points to 1.450 percent.

 

 

 

 

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Sao Paulo’s hard-tech and UAE’s software ventures make good combination: Minister
2
UAE a bridge to promote Korean culture to Middle East: Korean Minister
3
Kyrgyzstan’s PM receives GCTP delegation
4
UAE gives nod to operation of 1st reactor of Barakah nuclear plant
5
Abu Dhabi continues AED50 billion investment in business, people and innovation
6
Duterte nixes private sector’s massive reclamation of Manila Bay
7
S. Korea reports 1 more case of novel coronavirus, total now at 29
8
Abdullah bin Zayed reviews government excellence models, leadership programmes
9
UAE keen to learn leading international experiences: Sultan Al Mansouri
10
Ethiopian PM arrives in UAE
Photo News Green Biz
Environmentally Distinctive House initiative launched
Environmentally Distinctive House ...
min
Masdar to bring solar power to 'off-grid' communities around the world
Masdar to bring solar power to 'of...
min
ADNOC ranked amongst five lowest GHG emitters in oil and gas industry
ADNOC ranked amongst five lowest G...
min
World Green Economy Summit 2018 concludes
World Green Economy Summit 2018 co...
min
Restoration of nature requires actions of many :Al Zeyoudi
Restoration of nature requires act...
min
Photo News Sports
Over 20,000 athletes to participate in Zayed Marathon, in Suez, Egypt
Over 20,000 athletes to participat...
min
Tactically astute display gives UAE's Faisal Al Ketbi gold at World Jiu-Jitsu Championship
Tactically astute display gives UA...
min
Tactically astute display gives UAE's Faisal Al Ketbi gold at World Jiu-Jitsu Championship
Tactically astute display gives UA...
min
UAE bags 20 medals in GCC Women’s Games
UAE bags 20 medals in GCC Women’s ...
min
Bizarre buildup, then odd finish to 'Korean Derby' in World Cup qualification
Bizarre buildup, then odd finish t...
min
Jiu-Jitsu Tolerance Championship opens in AL Ain
Jiu-Jitsu Tolerance Championship o...
min
Mohamed bin Zayed receives Khabib Nurmagomedov, congratulates him on winning UFC in Abu Dhabi
Mohamed bin Zayed receives Khabib ...
min
Heated start for President’s Jiu-Jitsu Cup Championship
Heated start for President’s Jiu-J...
min
Photo News World
Over 20,000 athletes to participate in Zayed Marathon, in Suez, Egypt
Over 20,000 athletes to participat...
min
Tactically astute display gives UAE's Faisal Al Ketbi gold at World Jiu-Jitsu Championship
Tactically astute display gives UA...
min
Tactically astute display gives UAE's Faisal Al Ketbi gold at World Jiu-Jitsu Championship
Tactically astute display gives UA...
min
UAE bags 20 medals in GCC Women’s Games
UAE bags 20 medals in GCC Women’s ...
min
Bizarre buildup, then odd finish to 'Korean Derby' in World Cup qualification
Bizarre buildup, then odd finish t...
min
Jiu-Jitsu Tolerance Championship opens in AL Ain
Jiu-Jitsu Tolerance Championship o...
min
Mohamed bin Zayed receives Khabib Nurmagomedov, congratulates him on winning UFC in Abu Dhabi
Mohamed bin Zayed receives Khabib ...
min
Heated start for President’s Jiu-Jitsu Cup Championship
Heated start for President’s Jiu-J...
min
Photo News Opinion
Carmakers set to restart production this week amid eased parts supply crunch
Carmakers set to restart productio...
min
Moon says S. Korea can ride out viral outbreak, asks for no excessive fear
Moon says S. Korea can ride out vi...
min
Gov't urges universities to postpone start of spring semester as coronavirus spreads
Gov't urges universities to postpo...
min
Hyundai, Kia suspend some production lines amid coronavirus-triggered crunch
Hyundai, Kia suspend some producti...
min
S. Korea reports 2 more confirmed case of new coronavirus
S. Korea reports 2 more confirmed ...
min
No additional new coronavirus cases reported in S. Korea, 28 potential cases monitored
No additional new coronavirus case...
min
Seoul stocks sink 3 pct on coronavirus scare, Korean won sharply down
Seoul stocks sink 3 pct on coronav...
min
Seoul stocks open sharply lower amid Wuhan coronavirus woes
Seoul stocks open sharply lower am...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com