Seoul shares down late Tues. morning on tech losses

SEOUL, Oct. 6 (Yonhap) -- The Korea Composite Stock Price Index (KOSPI) dipped 0.56 percent to 6,964.85 on Tuesday morning, trailing technology stocks lower as bond yields hit multi-decade peaks. After opening 0.58 percent higher, the index traded down 38.89 points by 11:20 a.m. Foreign investors sold a combined 737.21 billion won worth of stocks, while domestic institutions bought 141.94 billion won.

The focus now shifts to upcoming corporate earnings, as rising interest rates, surging energy costs, and renewed inflation worries fuel global bond yield hikes. Overnight, the Dow Jones Industrial Average edged up 0.18 percent, and the tech-focused Nasdaq Composite added 1.05 percent. In Seoul, technology firms led the decline, with Samsung Electronics slipping 0.72 percent, SK hynix falling 2.66 percent, and Korea Aerospace Industries dropping 4.66 percent.

However, LG Electronics emerged as a standout performer, surging 7.18 percent after securing a long-term deal to supply chillers for AI data centers to a North American company. As of 11:20 a.m., the Korean won was trading at 1,344.00 won against the U.S. dollar, down 1.6 won from the previous trading session's close.