South Korean Shares Rebound as Treasury Yields Ease
South Korea’s benchmark KOSPI climbs more than 5% to around 6,830, rebounding from the previous session’s 5.8% drop as easing US Treasury yields and a higher Wall Street close lift risk appetite.
The benchmark KOSPI climbed more than 5% to around 6,830 on Thursday, rebounding sharply from the previous session’s 5.8% plunge as easing US Treasury yields helped restore risk appetite.
The retreat in long-term Treasury yields followed the US Treasury’s announcement that it would significantly increase debt buybacks, easing concerns over rising borrowing costs that had weighed heavily on global equities.
At the same time, Wall Street closed higher overnight, with the S&P 500 and Nasdaq advancing, providing further support for Korean shares.
Chipmakers led the recovery, with Samsung Electronics rising around 7% and SK hynix jumping nearly 11% after announcing a record KRW 40 trillion share buyback and cancellation plan, which is expected to enhance shareholder returns and support its valuation.
Other notable performers included SK Square (6.9%), LG Energy Solution (2.2%), Samsung C&T (5.3%), Samsung SDI (5.3%), Celltrion (2.2%), LG Electronics (1.2%), and SK Inc (4.7%).