South Korean market opens sharply lower as US tech losses and inflation worries loom
The Korea Composite Stock Price Index opened down about 198 points as investors reacted to recent losses in US technology shares and awaited the upcoming US consumer price index release. Samsung Electronics fell 4.79% and SK hynix dropped 5.61%, while Hyundai Motor lost 5% and Hanwha Aerospace slipped 3.71%. In contrast, K‑pop agencies Hybe and SM posted modest gains of 1.47% and 1.8% respectively. Traders said the CPI figures could give clues about the Federal Reserve’s policy direction before its October meeting.
Why it matters
The move shows how overseas market sentiment and inflation data expectations can influence South Korean equity prices.
How this story developed
- Oct 2 Seoul market slips modestly as US stocks close higher
- Oct 8 The market recorded a third straight day of losses.
- Oct 13 The decline continued a multi‑day slide in the index.
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