South Korean shares extend slide amid oil and yields
The KOSPI fell more than 2% to around 6,850, with WTI above $100 and Brent above $107 as US 10-year yields hit their highest level since October 2023. Samsung Electronics and SK hynix led the decline; BOK signaled it will assess the timing and pace of further rate hikes.
The benchmark KOSPI fell more than 2% to around 6,850 on Friday, extending losses from the previous session as oil prices climbed and US Treasury yields rose. WTI moved above $100 per barrel and Brent topped $107 amid escalating US-Iran tensions, stoking inflation concerns and worries about further disruptions to oil supplies. The US 10-year Treasury yield rose to its highest level since October 2023, while bets on a rate hike at next week’s Fed meeting strengthened. 2%).
1% in August. South Korea’s exports surged 83% year-on-year in the first 10 days of September, led by semiconductor shipments that jumped 270% amid robust AI demand.