Seoul stock market slides as tech shares tumble amid easing bond yields
South Korean equities fell on Wednesday, led by declines in major technology firms, while foreign investors sold a net 1.16 trillion won of shares.
On Wednesday morning, South Korea's benchmark KOSPI index fell 80.66 points, roughly 1.16%, settling at 6,860.73 as technology shares led the decline. Samsung Electronics edged down 0.28% and its chip rival SK hynix dropped 2.09%, while LG Electronics experienced a sharp 7.74% fall and Hyundai Motor slipped 2.73%. In contrast, Amorepacific rose 4.73% and LG Energy Solution gained 0.38%.
Foreign investors sold a net 1.16 trillion won of stocks, institutions disposed of 313.14 billion won, and individual investors purchased a net 1.19 trillion won. The downturn occurred despite lower global oil prices and a retreat in bond yields from multidecade highs, and the Korean won traded at 1,341.35 per U.S. dollar.
Why it matters
The slide shows how tech-sector weakness and foreign outflows can pressure South Korea's equity market.
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