KOSPI falls as high US Treasury yields overshadow AI optimism
The KOSPI ended lower Tuesday, as heavy institutional selling and renewed concerns over high U.S. Treasury yields erased a chip-driven rally. According to the Korea Exchange, the benchmark KOSPI closed at 6,869.83, down 1.55 percent from the previous session. The index opened 2.15 percent higher and briefly surpassed the 7,200 mark on optimism over artificial intelligence (AI) and semiconductor…
The KOSPI index fell sharply on Tuesday as strong U.S. Treasury yields and persistent worries over high yields overshadowed enthusiasm for artificial intelligence and semiconductors. The benchmark KOSPI closed at 6,869.83, marking a 1.55 percent decline from the previous session. Following an initial surge of 2.15 percent, the index reached a peak of 7,200 before being erased by heavy selling by institutional investors.
Foreign and retail investors made net purchases of 86.5 billion won and 731 billion won, respectively, while institutional investors offloaded 785.4 billion won. SK hynix and Samsung Electronics were among the affected companies, with the former up 1.03 percent and the latter down 2.19 percent. Overnight, U.S. stocks suffered losses as geopolitical tensions between Iran and the U.S. intensified and the 10-year Treasury yield surged to 4.726 percent.
Despite an initial rise in the Philadelphia Semiconductor Index by 1.6 percent following positive news from Anthro, the KOSPI's decline was attributed to the broader economic concerns reflected in the U.S. market.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
