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Stock impact report

S.Korea stocks fall most in 2 wks as tech heavyweights slump [Reuters]

Shinhan Financial Group Co Ltd American Depositary Shares (SHG) 
US:NYSE Investor Relations: shinhangroup.co.kr/en/invest/main.jsp
Company Research Source: Reuters
SEOUL, May 27 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares dropped the most in two weeks on Thursday, dragged down by tech heavyweights and on fears that central banks were closer to considering winding back their emergency stimulus. The won weakened, while the benchmark bond yield rose. ** The benchmark KOSPI fell 19.41 points, or 0.61%, to 3,149.02 as of 0217 GMT, set for its sharpest decline since May 13. ** Battery maker LG Chem tumbled near 5%, following a 6.73% drop on Wednesday, as its unit LG Energy Solution said it would be voluntarily recalling its Energy Storage System (ESS) batteries which is expected to cost the company around 400 billion won ($358.21 million). ** Among other heavyweights, chip giant Samsung Electronics fell 0.63%, while internet giant Naver and Hyundai Motor dropped 2.34% and 1.12%, respectively. ** Foreigners were net sellers of 230.3 billion won ($206.05 million) worth of shares Show less Read more
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