Seoul shares sink 1.38% on possible rate hike in US
Seoul bourse
Seoul - Yonhap
South Korean stocks sank 1.38 percent Thursday as investor sentiment was shaken by the possibility of an early rate hike in the United States, analysts said Thursday. The local currency fell against the U.S. greenback.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 28.57 points to close at 2,044.21, dipping below the 2,050 level for the first time in 10 days. Trading volume was slim at 299.8 million shares worth 4.47 trillion won (US$4.38 billion), with decliners far outpacing gainers 504 to 318.
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