KOSPI falls, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield rises

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SEOUL, – Round-up of South Korean financial markets:

** South Korean shares fell for a third straight session on Wednesday, as overnight losses in U.S. technology stocks weighed.

** The benchmark KOSPI lost 21.47 points, or 0.68%, to 3,130.09, the lowest closing level since August 1. It fell as much as 2.29% during the session.

** Overnight declines in Nvidia and other major artificial intelligence -related stocks dragged the S&P 500 and the Nasdaq 0.6% and 1.5% lower, respectively.

** “Profit taking in Wall Street has been weighing on domestic market sentiment as well,” said Lee Kyoung-min, an analyst at Daishin Securities.

** “The KOSPI recouped some losses near the close of the session on dip-buying, but volatility is expected to persist for the time being,” said Park Kwang-nam, an analyst at Mirae Asset Securities.

** Chipmaker Samsung Electronics rose 0.71%, after media reports said the U.S. was considering taking equity stakes in chip companies in exchange for grants under the CHIPS Act that was meant to spur factory-building in the country.

** Peer SK Hynix fell 2.85%, tracking major customer Nvidia’s overnight decline.

** LG Chem rose 2.16% after major South Korean petrochemical companies, including itself, agreed to restructure their operations, including large production cuts.

** Lotte Chemical cut early gains to gain 0.65%, while Hanwha Solutions fell 2.61%.

** Of the total 935 traded issues, 243 advanced and 645 declined.

** Foreigners were net sellers of shares worth 232.6 billion won .

** The won was quoted at 1,398.4 per dollar on the onshore settlement platform, 0.46% lower than Tuesday’s close of 1,392.0.

** In the money and debt markets, September futures on three-year treasury bonds lost 0.01 point to 107.29.

** The most liquid three-year Korean treasury bond yield rose 0.1 basis point to 2.446%, while the benchmark 10-year yield added 1.7 basis points to 2.861%.

This article was generated from an automated news agency feed without modifications to text.