The benchmark Korea Composite Stock Price Index(KOSPI) lost more than one percent Thursday as investors offloaded blue-chip stocks, reflecting overnight losses on Wall Street.

The KOSPI fell 31-point-91 points, or one-point-22 percent, to close at two-thousand-593-point-67.

Wall Street closed lower as concerns over U.S. President Donald Trump’s large-scale tax cuts widening the federal deficit and pushing up Treasury yields led to selling pressure in the local stock market, with KB Securities analyst Kim Ji-won noting the uncertainty has prompted a cautious, wait-and-see stance.
 
Most blue-chip stocks traded in negative territory with Samsung Electronics and SK hynix each shedding one-point-eight percent, LG Energy Solution slipping one-point-08 percent, Hyundai Motor falling two-point-98 percent and Hanwha Ocean losing two-point-four percent.

The tech-heavy KOSDAQ fell five-point-95 points, or zero-point-82 percent, to close at 717-point-67.