(LEAD) Seoul shares end lower for 2nd day on tech losses

(ATTN:

SEOUL, March 25 (Yonhap) -- Seoul shares ended lower Tuesday for the second straight session due to tech losses despite eased concerns over the Trump administration's tariff sanctions. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 11.26 points, or 0.62 percent, to close at 2,615.81.

Trade volume was moderate at 431.77 million shares worth 8.1 trillion won (US$5.5 billion), with decliners outpacing gainers 576 to 303.

The KOSPI opened higher, tracking overnight gains on Wall Street, but turned lower later.

The Dow Jones Industrial Average rose 1.42 percent, and the tech-heavy Nasdaq composite advanced 2.27 percent.

Foreigners and individuals sold a net 78.2 billion won and 63.5 billion won worth of stocks, respectively, exceeding institutions' stock purchases valued at 67.9 billion won.

The index didn't fall sharply as investors got some relief from signs that the U.S. trade sanctions will be narrower than feared, analysts said.

U.S. President Donald Trump on Monday (U.S. time) signaled trading partners would receive possible exemptions or reductions in tariffs depending on their contributions to creating American jobs.

Tech stocks were lead decliners.

Market bellwether Samsung Electronics fell 1.16 percent to 59,800 won, and chip giant SK hynix declined 1.65 percent to 208,000 won.

Leading shipbuilder HD Hyundai Heavy Industries dropped 3.85 percent to 287,000 won, and shipbuilder Hanwha Ocean plunged 6.29 percent to 68,500 won.

Among gainers, top carmaker Hyundai Motor jumped 3.29 percent to 220,000 won, and its smaller affiliate Kia advanced 2.13 percent to 100,800 won.

On Monday, Hyundai Motor Group announced a record US$21 billion investment in the United States through 2028 amid the U.S. government's ever-changing tariff policies.

The local currency was trading at 1,469.20 won against the U.S. dollar at 3:30 p.m., down 1.5 won from the previous session.

Bond prices, which move inversely to yields, ended lower. The yield on three-year Treasurys rose 0.8 basis point to 2.612 percent, and the return on the benchmark five-year government bonds added 1.3 basis points to end at 2.700 percent.

[email protected]
(END)