Profit capture persists in Seoul, which falls 0.91%

Nathan Rivera

08/11/2023

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Seoul, Nov 8 (EFECOM).- The Kospi, the Seoul Stock Exchange's benchmark index, lost 0.91% today, Wednesday, in another day marked by profit capture after Monday's record rise.

The South Korean benchmark fell 22.34 points to close at 2,421.62 points, while the Kosdaq technology index fell 13.35 units, or 1.62%, to 811.02 points.

Although the selective started in green, the capture of profits, especially at the hands of retail and foreign investors, ended up leading today to a second consecutive decline in the Kospi after shooting up almost 6% on Monday after short sales were suspended until July 2024 on the South Korean parquet.

The measure, activated by the regulator after alleged illegal operations by investment banks were detected, was initially well received, although analysts point out that investors are still weighing its true scope and that the Seoul Stock Exchange could face volatile sessions in the coming days. .

The asset with the most weight in the South Korean selective, the technology giant Samsung Electronics, fell 1.41% today, while the second largest memory chip manufacturer in the world, SK Hynix, worsened 2.15%.

The group that owns South Korea's most popular search engine, Naver, fell 1.55%, although the operator of the most used instant messaging application in the Asian country, Kakao, instead advanced 0.46%.

For its part, the biopharmaceutical company Samsung Biologics appreciated 0.27%, and the number one South Korean vehicle manufacturer, Hyundai Motor, lost 0.74%. EFECOM

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Author Profile

Nathan Rivera
Allow me to introduce myself. I am Nathan Rivera, a dedicated journalist who has had the privilege of writing for the online newspaper Today90. My journey in the world of journalism has been a testament to the power of dedication, integrity, and passion.

My story began with a relentless thirst for knowledge and an innate curiosity about the events shaping our world. I graduated with honors in Investigative Journalism from a renowned university, laying the foundation for what would become a fulfilling career in the field.

What sets me apart is my unwavering commitment to uncovering the truth. I refuse to settle for superficial answers or preconceived narratives. Instead, I constantly challenge the status quo, delving deep into complex issues to reveal the reality beneath the surface. My dedication to investigative journalism has uncovered numerous scandals and shed light on issues others might prefer to ignore.

I am also a staunch advocate for press freedom. I have tirelessly fought to protect the rights of journalists and have faced significant challenges in my quest to inform the public truthfully and without constraints. My courage in defending these principles serves as an example to all who believe in the power of journalism to change the world.

Throughout my career, I have been honored with numerous awards and recognitions for my outstanding work in journalism. My investigations have changed policies, exposed corruption, and given a voice to those who had none. My commitment to truth and justice makes me a beacon of hope in a world where misinformation often prevails.

At Today90, I continue to be a driving force behind journalistic excellence. My tireless dedication to fair and accurate reporting is an invaluable asset to the editorial team. My biography is a living testament to the importance of journalism in our society and a reminder that a dedicated journalist can make a difference in the world.

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