South Korean Kospi down 0.2% due to higher crude oil and concern over Ukraine

Seoul, 24 Mar The main index of the Seoul Stock Exchange, the Kospi, declined by 0.2 percent on Thursday, after investors felt concerned about a further rise in oil prices and persistent geopolitical concerns around Ukraine. Kospi fell 5.39 points, to 2,729.66 units, in a session in which 11.48 trillion won (8,570 million euros) moved and ended two days of profit. On the other hand, the Kosdaq Technology Securities Index added 0.13 per cent or 1.18 points, to 931.75 integers. The South Korean parquet opened lower, dropping to 1.04%, following losses on Wall Street and the rise in oil due to the interruption of supply to a crucial oil pipeline on the Black Sea coast due to a breakdown. The Asian stock market managed to cut losses throughout the day thanks to purchases by individual investors, who today disbursed 675.16 billion won (around 500 million euros). Among the benchmark companies in Seoul, the technology conglomerate Samsung Electronic fell by 0.99 per cent, and the second largest chip manufacturer in the country, SK hynix, fell by 2.43 per cent. The biotechnology company Samsung Biologics gave up 1.32%, and the largest pharmaceutical company in the country, Celltrion, fell by 0.88%. South Korea's leading steelmaker, POSCO, lost 0.82%, while the largest national internet provider, Naver, rose 1.59%. Contrary to the general trend, companies in the chemical sector mostly closed positively. This was the case of the battery manufacturer LG Energy Solution, which advanced by 0.25%, or LG Chem, which gained an outstanding 4.53%. The holding company in the energy sector SK Innovation added 0.48 per cent and the S-Oil refinery, 1.34 per cent. The local currency, the won, fell by 5 units against the US dollar, which was trading at 1,218.80 won at the close of the session.