KOSPI closes slightly lower after 3-day record run

Benchmark index KOSPI ended slightly lower Friday, snapping a three-day record-breaking run, as renewed tensions in the Middle East weighed on investor sentiment. In contrast, the secondary bourse Kosdaq closed above the 1,200 mark for the first time since 2000. KOSPI opened at 6,496.10, up 0.31 percent from the previous session, according to the Korea Exchange. The index briefly rose above 6,500 during intraday trading, but gave up gains to close at 6,475.63, down 0.18 percent. Foreign investors pressured the market, offloading a net 1.95 trillion won ($1.31 billion) worth of shares. Institutions and retail investors provided support, buying a net 805.6 billion won and 1.18 trillion won, respectively. In contrast, Kosdaq rallied 2.51 percent to close at 1,203.84, marking its highest level since Aug. 4, 2000, when it finished at 1,238.80 during the dot-com bubble. Gains were largely led by materials, parts and equipment firms, as well as biotech stocks. On Kosdaq, foreign and institutional investors drove the rally, purchasing a net 732.1 billion won and 187.8 billion won, respectively,

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