South Korean Shares Plunge

The benchmark KOSPI fell more than 4% to around 6,560 on Wednesday, extending losses from the previous session, as a global bond selloff weighed on investor sentiment. The US 30-year Treasury yield climbed to its highest level since 2007, while long-term bond yields also reached multi-year highs in Japan and Europe, raising concerns over higher borrowing costs and pressuring growth and technology stocks. The global technology selloff hit Korean chipmakers particularly hard, with Samsung Electronics and SK hynix falling around 6% and 7%, respectively, as they tracked losses in US semiconductor stocks. Losses were also recorded in SK Square (-9.6%), Hyundai Motor (-3.5%), KB Financial Group (-2.3%), Kia Corporation (-3.4%), and Doosan Enerbility (-3.3%). At the same time, higher oil prices added to inflation concerns after President Donald Trump said the US is not in talks with Iran, while stalled peace efforts raised fears of further disruptions to oil supplies from the Middle East.




