The Kospi falls 0.89% due to fears of rising inflation

© Provided by Agencia EFE

Seoul, Jan 18 (EFE).- The main index of the Seoul stock market, the Kospi, fell 0.89% this Tuesday, its fourth consecutive day down, due to fears of escalating inflation in the US. and South Korea.

The Kospi dropped 25.86 points, to 2,864.24 units, in a session in which 9.9 trillion won (7,562 million euros) moved.

The Kosdaq technology stock index lost 1.46%, or 13.96 points, to 943.94 points.

The South Korean floor opened lower, uneasy for the fourth consecutive day due to inflationary pressure in South Korea and the US and the possible aggressive policy that the US Federal Reserve (Fed) and the Bank of Korea (BoK) could activate to control inflation ahead of schedule.

Most large-cap companies on the South Korean stock market closed lower.

The technology company Samsung Electronics, a local reference value, lost 0.65%, as well as the second largest chipmaker in the country, SK hynix, which fell 0.39%.

South Korea’s main internet provider, Naver, fell 1.16%; the chemical company LG Chem depreciated 1.84%, and the pharmaceutical company Samsung Biologics fell 2.42%.

Among the winners of the day stands out the manufacturer of car batteries, Samsung SDI, which climbed 5.3%.

The local currency, the won, fell 2.6 units against the US dollar, which was trading at 1,190.1 won at the end of the session.

(c) EFE Agency

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