South Korean shares fall as chipmakers decline ahead of Samsung Electronics earnings

Business Recorder reported that South Korean shares slipped on Tuesday, the first session after a lengthy holiday break, as chipmakers retreated ahead of Samsung Electronics' third-quarter earnings due later this week. The benchmark KOSPI gave up 34.41 points, or 0.49 per cent, to stand at 6,969.33 at 0129 GMT. Local markets had been shut on Monday for a public holiday.

Samsung Electronics dipped 0.36 per cent, while SK Hynix shed 2.72 per cent. LG Energy Solution, a battery producer, rose 1.75 per cent, while Hyundai Motor and Kia gained 1.01 and 0.18 per cent respectively. Kiwoom Securities analyst Han Ji-young said the earnings report would be the key event, with attention on whether it prompts higher chip-sector forecasts and foreign buying.

Of the 913 issues traded, 411 rose and 448 fell. Foreign investors were net sellers of shares worth 564.5 billion won, or $420.15 million. The won was quoted at 1,343.0 per dollar, 0.04 per cent weaker than its previous close of 1,342.4.