Seoul shares end lower for 2nd day on foreign-selling spree; won rises

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Seoul shares end lower for 2nd day on foreign-selling spree; won rises

SEOUL, May 20 (Yonhap) -- South Korean stocks closed lower Wednesday, extending their losses for a second straight session, as foreign investors continued heavy selling. The local currency gained ground against the U.S. dollar.

After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) lost 62.71 points, or 0.86 percent, to close at 7,208.95.

The index opened 0.72 percent higher but turned lower within about three minutes of trading. It later plunged to as low as 7,053.84 during one point.

Overnight, U.S. stocks extended their decline from recent record highs as rising U.S. Treasury yields and persistent inflation concerns, caused by high oil prices amid the extended tensions in the Middle East, continued to weigh on investor sentiment.

Foreigners extended their sell-offs to a 10th consecutive session, centering on chipmakers and other market heavyweights.

Most market heavyweights traded mixed

After volatile trading, shares of Samsung Electronics inched up 0.18 percent to close at 276,000 won after talks with its largest labor union broke down, a day ahead of a planned major strike at the world's largest memory chipmaker.

In contrast, its chimaking rival SK hynix was unchanged at 1,745,000 won.

The Korean won was quoted at 1,506.8 won against the U.S. dollar at 3:30 p.m., up 1 won from the previous session.

The dealing room at Hana Bank in Seoul on May 20, 2026 (Yonhap)