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 closed lower on Tuesday, as rising U.S. Treasury yields and institutional selling outweighed gains from the tech sector. The benchmark index fell 1.55%, closing at 6,869.83 points, compared to the previous session's level. Following a strong opening, where the KOSPI surged 2.15% and briefly topped 7,200 points due to optimism surrounding AI and semiconductor stocks, the index ultimately fell below 7,000.
During the session, foreign and retail investors bought a total of 817.5 billion won worth of stocks, while institutional investors sold off 785.4 billion won worth of securities. SK hynix experienced a 1.03% rise, concluding at 1,662,000 won, whereas Samsung Electronics dropped 2.19% to reach 268,500 won. Overnight, U.S. stock markets experienced a decline, with the Dow Jones and Nasdaq indexes both falling.
The setback was exacerbated by heightened geopolitical tensions between Iran and the U.S. and a sharp increase in the benchmark 10-year U.S. Treasury yield to 4.726%. Despite the semiconductor sector's positive momentum, driven by an 1.6% gain in the Philadelphia Semiconductor Index following Anthro's announcement, the broader market rally was unable to overcome the lingering concerns over rising interest rates.
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.
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