Seoul: Stocks fall on tech selloff, foreign profit-taking

[SEOUL] South Korean shares fell on Thursday, dragged lower by technology stocks, as foreign investors booked profits after the benchmark index hit a two-year closing high earlier this week.

The Kospi closed down 29.75 points, or 1.22 per cent, at 2,406.17. The index snapped a four-session rally to fall 0.3 per cent on Wednesday. "Investor sentiment was dented after the US Federal Reserve remained cautious over offering further liquidity," said Kiwoom Securities analyst Seo Sang-young. The Federal Reserve pledged to keep interest rates low for a long time but stopped short of offering further stimulus to shore up a battered US economy.BT is now on Telegram!

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500, Dow rise before Fed; tech stocks pull down NasdaqThe S&P 500 and Dow Jones indexes rose on Wednesday on hopes that the Federal Reserve would continue to keep interest rates low for a prolonged ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Rich nations snap up coronavirus vaccine stocks in global race for jabWASHINGTON (AFP) - Rich nations representing a fraction of the global population have already bought up over half the promised Covid-19 vaccine stocks, a study showed, as US President Donald Trump pledged to begin inoculating Americans within weeks.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »