SEOUL, October 14 (AJP) - South Korea’s record-setting morning session turned into broad selling by the close, as investors across Asia recoiled from a new chapter in the U.S.–China trade conflict.
The benchmark KOSPI slipped 0.63 percent to 3,561.81, after hitting an intraday record high of 3,637.45 earlier in the day. The Kosdaq also dropped 1.46 percent to 847.96.
Samsung Electronics, which spearheaded the morning rally on record-breaking third-quarter results, fell 1.39 percent to 92,000 won as investors locked in profits. SK Hynix declined 0.72 percent to 412,000 won. Foreign investors turned cautious after China imposed sanctions on U.S. subsidiaries of Hanwha Ocean in response to Washington’s new shipping curbs.
In Taiwan, the TAIEX, which had tracked the early chip rally, closed 0.48 percent lower at 26,793.15.
Japan’s Nikkei 225 was the biggest regional loser, tumbling 2.58 percent to 46,847.32 amid political upheaval. The collapse of the 26-year coalition between the ruling Liberal Democratic Party and its partner Komeito clouded the outlook for Sanae Takaichi’s rise as Japan’s first female prime minister.
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