Samsung And SK Hynix Lead KOSPI Rout Amid Global Risk-Off Mood
· Business · Economic Times, Bloomberg, The Korea Times
South Korean shares plunged on Wednesday as rising bond yields and Middle East tensions triggered heavy selling across semiconductor stocks. The benchmark KOSPI fell 319.75 points, or 4.65%, to close at 6,550.08, with foreign investors offloading 1.47 trillion won in equities. Chipmakers led the downturn, as Samsung Electronics dropped 6.33% and SK Hynix fell 7.34%. Long-term borrowing costs in the US, Germany, and Japan reached multi-decade highs due to ballooning government debt and geopolitical concerns. Despite the single-day selloff, the KOSPI retains a year-to-date gain of 55.43%.
Why it matters
The sharp market correction highlights growing vulnerability among Asian equities as rising global borrowing costs and geopolitical conflicts constrain investor sentiment.
Read the original report — Economic Times
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.