South Korea shares fell after selloff continues on Wall Street
SEOUL: Round-up of South Korean financial markets: South Korean shares fell on Tuesday as a selloff of tech shares deepened on Wall Street, offsetting positive sentiment from a plunge in oil prices. The won strengthened, while the benchmark bond yield fell. The benchmark KOSPI was down 159.11 points, or 2.72%, at 5,699.97 as of 0233 GMT. Chipmaker Samsung Electronics fell 3.17%, while peer SK…
South Korean stocks endured another turbulent day on Tuesday, following a broader decline in tech shares on Wall Street. The KOSPI, a major index, slipped by 2.72% to 5,699.97 points. Notable declines were seen in Samsung Electronics (-3.17%) and SK Hynix (-4.14%). Other significant drops included LG Energy Solution (-3.51%) and Hyundai Motor (-3.57%).
Despite positive news from a drop in oil prices, which led to a stronger won, the overall market sentiment remained bearish. Foreign investors sold 811.4 billion won worth of shares, while the KOSPI has gained 35.26% this year, while the won has strengthened 7.4% against the dollar.
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