South Korean Shares Fall on Chip Profit-Taking
South Korea's benchmark KOSPI falls more than 1% to around 6,800 as investors take profits in chip stocks ahead of Nvidia's earnings, while higher global bond yields and Middle East tensions also weigh on risk appetite.
The benchmark KOSPI fell more than 1% to around 6,800 on Monday, reversing gains from the previous session, as investors took profits in chip stocks ahead of Nvidia's earnings this week.
Samsung Electronics plunged more than 6%, while SK hynix gained nearly 2%, as investors remained cautious about the outlook for the AI-driven semiconductor rally.
Additionally, rising global bond yields pressured equities, with the US 30-year Treasury yield reaching its highest level in nearly 20 years.
Renewed Middle East tensions also pushed Brent crude toward $90 per barrel, raising concerns over higher inflation and keeping pressure on global risk appetite.
Losses were also seen in SK Square (-1.7%), KB Financial Group (-1.6%), and Shinhan Financial Group (-1.4%).
Meanwhile, Samsung Electronics' record shareholder-return plan earmarked up to KRW 110 trillion for shareholders this year, including KRW 30 trillion in third-quarter dividends, following SK hynix's KRW 40 trillion buyback.