South Korean shares track losses in US tech; SK Hynix hits record high
- The won was quoted at 1,512.9 per dollar on the onshore settlement platform, 0.30% lower than its previous close at 1,508.3
Round-up of South Korean financial markets:
South Korean shares fell on Wednesday, tracking overnight losses in US technology stocks, while heavyweight chipmaker SK Hynix rose to a record high. The benchmark KOSPI was down 30.16 points, or 0.35%, at 8,696.44, as of 0151 GMT, after falling more than 1% earlier in the session.
The Nasdaq Composite and the S&P 500 finished lower on Tuesday under pressure from technology stocks, while the Dow Jones Industrial Average marked its second straight record close and SpaceX rallied to become the fifth-most valuable US company.
Details began to emerge on Tuesday of the US and Iran’s interim agreement to end the war in the Middle East, with US President Donald Trump saying it will rule out a nuclear weapon for Tehran and a US official saying it allows Iran to sell oil upon signing.
Among index heavyweights, chipmaker Samsung Electronics fell 2.48%, while peer SK Hynix rose more than 1% to an all-time high. Battery maker LG Energy Solution climbed 1.95%.
Hyundai Motor and sister automaker Kia Corp were down 3.13% and down 1.35%, respectively. Steelmaker POSCO Holdings added 0.38%, while drugmaker Samsung BioLogics rose 0.60%. Of the total 916 traded issues, 417 shares advanced, while 467 declined. Foreigners were net sellers of shares worth 1 trillion won ($660.78 million).
The won was quoted at 1,512.9 per dollar on the onshore settlement platform, 0.30% lower than its previous close at 1,508.3.
In money and debt markets, September futures on three-year treasury bonds gained 0.04 point to 103.19.
The most liquid three-year Korean treasury bond yield fell by 1.3 basis points to 3.707%, while the benchmark 10-year yield fell by 2.4 basis points to 4.084%. ‑Reuters
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