2023-08-23 08:11:00
Seoul, Aug 23 (.).- The Seoul Stock Exchange ended today with a 0.41% drop in its main indicator, the Kospi, awaiting the presentation of results from US technology companies and the words of the president of the US Federal Reserve (Fed), Jerome Powell, at the Jackson Hole symposium.
The referential index closed with a drop of 10.24 points, to 2,505.50 integers, while the Kosdaq technology index fell 31.50 units or 2.17%, in a day in which 6,200 million dollars moved .
Seoul investors turned cautious on Wednesday ahead of earnings releases such as those of US microchip giant Nvidia (NASDAQ:NVDA), which accounts for 3% of the S&P 500 index.
The markets are also awaiting Powell’s words at the Jackson Hole meeting that starts this Friday, and in which they hope to hear clues regarding the Fed’s next moves in terms of interest rates.
Companies with the largest market capitalization in the South Korean capital ended with mixed results. Tech giant and benchmark Seoul stock Samsung Electronics (KS:005930) gained 0.8%.
The country’s largest telecom service provider SK Telecom (KS:017670) gained 0.1%, while state utility Korea Electric Power (NYSE:KEP) rose 0.8%.
In the negative section, the losses of the largest vehicle manufacturer in the country, Hyundai Motor (KS: 005380) (0.2%), the auto parts manufacturer Hyundai Mobis (KS: 012330) (1.3%) and the producer of batteries for electric vehicles LG Energy Solution (2.6%).
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