South Korea’s KOSPI declines for a fourth consecutive session
In South Korea, the benchmark Korea Composite Stock Price Index (KOSPI) fell for a fourth consecutive trading session on Tuesday. The index lost 57.11 points, or 0.85%, to close at 6,627.26 points, Korea Herald reports.
Trading and investor sentiment
Trading volume was low at 274 million shares worth 16.2 trillion won, or $11.9 billion. The number of declining shares exceeded the number of gainers, 621 to 253. Retail investors were net buyers of shares worth 833.13 billion won, while institutional and foreign investors collectively net sold securities worth 2.48 trillion won.
Daishin Securities analyst Lee Kyung-min said market participants were sensitive to external uncertainty, particularly interest rates and further increases in global oil prices. Korea Herald also notes that investors took into account calls by leaders in the artificial intelligence industry to slow the pace of development in this field.
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Brent crude, the international benchmark grade, rose by about 1.6% to more than $107 per barrel. This came after the yield on 10-year U.S. Treasury bonds exceeded 5%. Investors were also watching the U.S. Federal Reserve’s rate meeting, from which, according to the publication, a decision to raise the rate was expected.
Company shares and the won exchange rate
Most major companies ended trading in negative territory. Samsung Electronics shares fell 0.2% to 248,500 won, while SK hynix lost 0.41% to 1.69 million won. Shares of defense companies also declined: Hanwha Aerospace fell 6.51% to 1.063 million won, and LIG Defense & Aerospace dropped 4.82% to 671,000 won.
At the same time, battery manufacturers posted gains. Korea Herald links this to U.S. President Donald Trump’s formal criticism of Ford Motor Company over its partnership with Chinese automotive firms. LG Energy Solution shares rose 3.98% to 365,500 won, while Samsung SDI gained 2.82% to 547,000 won. The South Korean won weakened by 12.1 won to 1,359.4 won per U.S. dollar.
