KOSPI closes 3.65% lower in fourth consecutive losing session

South Korea’s KOSPI fell 241.69 points, or 3.65%, to close at 6,384.24 on October 12, extending its decline to a fourth trading session.

Yonhap reported trading of about 313 million shares worth 21.33 trillion won. Declining stocks outnumbered advancing shares by 717 to 166.

Foreign investors were net sellers of 2.02 trillion won in stocks, while institutional investors sold a net 110.65 billion won. Individual investors bought a net 1.47 trillion won, according to the agency.

The sell-off was concentrated in technology shares amid concerns about inflation and energy costs. Analysts cited by Yonhap warned that further disruption to Middle Eastern energy supplies could complicate efforts to contain inflation.

The Korean won strengthened against the US dollar despite the stock-market decline. The index and trading figures describe the completed Monday session, rather than an intraday quotation.