KOSPI falls as US 10-year yield tops 5%, oil prices rise
Korean stocks closed lower Tuesday as renewed concerns over rising U.S. Treasury yields and crude oil prices outweighed bargain-hunting in semiconductor shares, while foreign investors extended their selling streak to a fifth session. The benchmark KOSPI closed at 6,627.26, down 0.85 percent from the previous session. After plunging 3.26 percent the previous day, the index rebounded as…
On Tuesday, Korean stocks experienced a decline as rising U.S. Treasury yields and higher crude oil prices overshadowed purchasing activity in semiconductor shares, despite foreign investors extending their selling trend for the fifth consecutive day. The KOSPI index closed at 6,627.26, marking a 0.85 percent decrease from the preceding session.
Following a previous day's drop of 3.26 percent, the index initially recovered as semiconductor stocks attracted bargain-hunting. However, it turned lower after 2 p.m., reaching an intraday low of 6,620.20. This reversal was attributed to an adverse shift in the macroeconomic situation. The U.S. 10-year Treasury yield surged to 5.02 percent, while Brent crude oil prices climbed from $105.68 to $107.35 per barrel.
Foreign and institutional investors sold a combined net of 1.57 trillion won ($1.15 billion) and 904.4 billion won in shares, respectively. In contrast, retail investors purchased shares worth 832.4 billion won. Among the companies, SK hynix experienced a 0.41 percent decline, closing at 1,690,000 won, while Samsung Electronics saw a 0.2 percent decrease, settling at 248,500 won. The performance varied across sectors, with large-cap stocks exhibiting mixed results.
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.
Also reported by 1 other outlet
- KOSPI falls as US 10-year yield tops 5%, oil prices rise koreatimes.co.kr
