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South Korean stocks ended slightly lower Thursday, tracking overnight losses on Wall Street following a U.S. rate hike.
The benchmark Korea Composite Stock Price Index lost 0.22 points, or 0.01 percent, to 2,036.65.
The decline followed overnight losses on Wall Street.
The Dow Jones industrial average lost 0.60 percent, with the tech-heavy Nasdaq composite index declining 0.50 percent.
Bae Sung-young, a market analyst at Hyundai Securities Co., said, "Local stocks are undergoing a correction after the U.S. Federal Reserve raised a key interest rate" by a quarter of a percentage point to a range of 0.5 percent to 0.75 percent.
He also said the local stock market lacks in any big upward momentum.
On Thursday, the Bank of Korea held its key rate steady at 1.25 percent for December to help support growth despite a U.S. rate hike. The decision, widely expected in the markets, did not affect the stocks much.
Most large-cap stocks were mixed across the board.
Naver, the top Internet portal operator, gained 0.13 percent to 786,000 won and top mobile communication service provider SK Telecom was up 0.22 percent to 230,000 won.
Meanwhile, market bellwether Samsung Electronics Co. fell 1.01 percent to 1,759,000 won and top auto parts maker Hyundai Mobis Co. was down 0.38 percent to 263,500 won.
The local currency was trading at 1,178.50 won against the U.S. dollar, down 8.80 won from the previous session's close. (Yonhap)
The benchmark Korea Composite Stock Price Index lost 0.22 points, or 0.01 percent, to 2,036.65.
The decline followed overnight losses on Wall Street.
The Dow Jones industrial average lost 0.60 percent, with the tech-heavy Nasdaq composite index declining 0.50 percent.
Bae Sung-young, a market analyst at Hyundai Securities Co., said, "Local stocks are undergoing a correction after the U.S. Federal Reserve raised a key interest rate" by a quarter of a percentage point to a range of 0.5 percent to 0.75 percent.
He also said the local stock market lacks in any big upward momentum.
On Thursday, the Bank of Korea held its key rate steady at 1.25 percent for December to help support growth despite a U.S. rate hike. The decision, widely expected in the markets, did not affect the stocks much.
Most large-cap stocks were mixed across the board.
Naver, the top Internet portal operator, gained 0.13 percent to 786,000 won and top mobile communication service provider SK Telecom was up 0.22 percent to 230,000 won.
Meanwhile, market bellwether Samsung Electronics Co. fell 1.01 percent to 1,759,000 won and top auto parts maker Hyundai Mobis Co. was down 0.38 percent to 263,500 won.
The local currency was trading at 1,178.50 won against the U.S. dollar, down 8.80 won from the previous session's close. (Yonhap)
