KOSPI slips as US bond yields, oil prices weigh on investor sentiment
Seoul stocks fell Tuesday as rising U.S. Treasury yields and oil prices weighed on investor sentiment, with the benchmark KOSPI opening lower and remaining in negative territory for most of the session. The index opened at 6,844.41, down 0.66 percent from the previous close, according to the Korea Exchange. It moved in a narrow range below the flat line before closing at 6,870.81, down 0.27…
Seoul stocks experienced a decline on Tuesday as rising U.S. Treasury yields and oil prices dampened investor sentiment, with the KOSPI index opening lower and staying in the red for most of the trading session. The benchmark index began at 6,844.41, slipping 0.66 percent from its previous close, according to the Korea Exchange.
Throughout most of the day, the index remained within a narrow range below the flat line before closing at 6,870.81, marking a 0.27 percent decrease. Both retail investors and institutions were net buyers, purchasing a combined 1.15 trillion won ($843 million), while foreign investors sold a net of 2.9 trillion won. The surge in oil prices and the persistence of elevated U.S. Treasury yields, driven by the ongoing tensions between the United States and Iran, contributed to the negative market sentiment.
The weekend saw U.S. President Donald Trump reject an Iranian proposal to re-open the Strait of Hormuz and resume nuclear talks, in exchange for lifting the U.S. naval blockade and making additional concessions. As a result, the 10-year Treasury note yield remained above 5.2 percent, its highest level since mid-2007. This increase in yields and oil prices consequently had a negative impact on Wall Street.
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.
