Seoul Stock Market loses 0.38% on inflation fears

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The Seoul Stock Exchange closed the trading day with a fall of 0.38% in its main indicator, the Kospi, on Tuesday given the renewed fears generated by post-pandemic inflation.

The South Korean selective Kospi dived by 12.12 points to 3,144.3 units. At the same time, the Kosdaq technology stock index slipped by 1.79%, or 17.26 points, to close at 948.37 units.

Foreign and institutional traders were once again net sellers today.

The highest-cap stock on the Kospi, Samsung Electronics, fell by 0.5%, while the world’s second-largest chipmaker, SK Hynix, yielded 2.45%.

Naver, the biggest South Korean internet portal, dropped by 1.25%. Kakao, the country’s main instant messaging application, reduced its value by 0.43%.

In the biopharmaceutical sector, Samsung Biologics tumbled by 0.35%, although it was positive all day after the weekend’s announcement, it has signed an agreement to produce Moderna’s vaccine in South Korea.

Still, towards the end of the session, the token began to be sold after days of increases motivated by speculation that it would sign the contract to produce vaccines against covid-19.

Its competitor, the pharmaceutical giant Celltrion, depreciated by 2.42%.

 Hyundai Motor, the main South Korean vehicle manufacturer, advanced by 0.22%.

Indian stock market closed with a loss

The Indian stock market traded flat on Tuesday. Sensex was down by 14 points at 50,637. Nifty gained 10 points to close at 15,208. 

The market opened in green and traded positively at the beginning of the day. The Sensex opened with a hike of 270.42 points at 50,922, and the Nifty opened 94.05 points up at 15,291. However, it dropped after the second half of the day due to selling in banking shares. The Nifty Bank index has fallen by 281 points to 34,662. HDFC Bank shares are down 2%.

At the same time, Axis Bank and Reliance shares fell more than 1%.

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