Seoul shares open lower as US bond yields climb again
Seoul shares opened lower Friday, tracking overnight losses on Wall Street as U.S. Treasury yields again rose and higher oil prices weighed on investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) fell 92.63 points, or 1.35 percent, to 6,759.95 at the opening bell. U.S. Treasury yields resumed their upward trend Thursday, reversing much of the previous day's decline…
Seoul's stock market opened lower on Friday, mirroring declines on Wall Street amid rising U.S. Treasury yields and surging oil prices. The Korea Composite Stock Price Index (KOSPI) slipped 92.63 points, or 1.35 percent, to reach 6,759.95 at the opening bell. U.S. Treasury yields had begun their climb earlier Thursday, reversing much of the prior day's gains following the U.S. Treasury's announcement of an expanded bond buyback program.
However, investors grew doubtful that this measure would offer more than a short-term reprieve from escalating long-term borrowing costs. Overnight, major U.S. stock indices suffered, with the Dow Jones Industrial Average declining 1.32 percent and the S&P 500 falling 0.87 percent. The tech-focused Nasdaq Composite Index also dropped 1 percent.
The downward pressure on stocks was amplified by higher oil prices, with Brent crude climbing over 2 percent following renewed tensions between the U.S. and Iran.
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.
This story
This is one outlet's version. Read the fullest account.
- (LEAD) Seoul shares open lower as U.S. bond yields climb again en.yna.co.kr
- Seoul shares open lower as US bond yields climb again koreatimes.co.kr
