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KOSPI Ends 3-Day Rally on Profit-Taking

Written: 2025-05-09 17:23:30Updated: 2025-05-09 17:39:03

KOSPI Ends 3-Day Rally on Profit-Taking

Photo : YONHAP News

The benchmark Korea Composite Stock Price Index(KOSPI) edged lower Friday, ending a three-day rally on profit-taking, as investors unloaded battery and bank shares despite eased trade tensions after  a U.S.-U.K. trade deal.

The KOSPI shed two-point-21 points, or zero-point-09 percent, to close at two-thousand-577-point-27.

U.S. stocks closed higher overnight as a trade agreement between Washington and London lifted optimism for other countries’ tariff negotiations, but in Seoul, battery and bank shares dragged the KOSPI lower.

Leading battery maker LG Energy Solution fell two-point-nine percent and POSCO Future M dropped four-point-74 percent while major lender KB Financial Group decreased two-point-65 percent, and Shinhan Financial Group shed zero-point-39 percent.

The tech-heavy KOSDAQ dropped seven-point-07 points, or zero-point-97 percent, to close at 722-point-52.

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