South Korean Shares Fall on Tech Selloff

The benchmark KOSPI fell nearly 5% to around 6,285 on Thursday, reversing gains from the previous session, as a selloff in global technology stocks weighed heavily on semiconductor shares. SK Hynix and Samsung Electronics declined sharply by roughly 5% and 8%, respectively, after the Nasdaq retreated overnight amid profit-taking in major tech names. Losses were also recorded in SK Square (-10.2%), Hyundai Motor (-1.6%), HD Hyundai Heavy Industries (-1.2%), LS Electric (-3.8%), SK Inc (-9.1%), and LG Electronics (-2.5%). Limiting broader losses, South Korea reported a record current account surplus of $49.73 billion in June, driven by strong semiconductor exports that reinforced the country’s export outlook. At the same time, reports of progress toward an interim transit arrangement between Iran and Oman eased concerns over disruptions to shipping through the Strait of Hormuz, supporting global risk sentiment.




