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…
South Korean stocks declined on Tuesday as U.S. Treasury bond yields and oil prices rose, dampening investor confidence, with the KOSPI index starting the day lower and staying in the red throughout the trading session. The benchmark index opened at 6,844.41, slipping 0.66 percent from the prior close, according to the Korea Exchange.
It fluctuated within a tight range under the flat line before concluding at 6,870.81, marking a 0.27 percent drop. Both retail and institutional investors were net buyers, accumulating 1.14 trillion won ($842 million) and 121.1 billion won, respectively. However, foreign investors exited the market with a net sale of 2.9 trillion won.
Elevated U.S. Treasury yields and higher oil prices, driven by geopolitical tensions between the United States and Iran, contributed to the negative sentiment in the market. On the weekend, President Donald Trump refused an Iranian offer to reopen the Strait of Hormuz and resume nuclear negotiations in exchange for lifting the U.S. naval blockade and other concessions.
The yield on the 10-year Treasury note, serving as a global benchmark for borrowing costs, remained above 5.2 percent, the highest level since mid-2007. This surge in yields and oil prices negatively impacted Wall Street over the weekend.
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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