South Korean Shares Fall Ahead of Key Earnings
The benchmark KOSPI fell 0.80% to around 5,500 on Monday, extending losses after a 2.08% weekly decline as investors turned cautious ahead of third-quarter earnings from major chipmakers SK hynix and Samsung Electronics, due Wednesday and Thursday, respectively. Market participants also await the US Federal Reserve’s policy decision later this week. Notable losses were recorded in Samsung Electronics (-0.46%), LG Energy Solution (-1.44%), and Hyundai Motor (-1.69%). Sentiment was also weighed down by rising oil prices, concerns over returns on heavy artificial intelligence investments, and continued foreign selling and volatility in semiconductor shares. Meanwhile, investors awaited earnings reports for clues about AI chip demand and memory prices, despite strong semiconductor exports that helped South Korea post a record-high current account surplus of USD 116.63 billion in the second quarter.
The benchmark KOSPI fell 0.80% to around 5,500 on Monday, extending losses after a 2.08% weekly decline as investors turned cautious ahead of third-quarter earnings from major chipmakers SK hynix and Samsung Electronics, due Wednesday and Thursday, respectively. Market participants also await the US Federal Reserve’s policy decision later this week. Notable losses were recorded in Samsung Electronics (-0.46%), LG Energy Solution (-1.44%), and Hyundai Motor (-1.69%). Sentiment was also weighed down by rising oil prices, concerns over returns on heavy artificial intelligence investments, and continued foreign selling and volatility in semiconductor shares.
Meanwhile, investors awaited earnings reports for clues about AI chip demand and memory prices, despite strong semiconductor exports that helped South Korea post a record-high current account surplus of USD 116.63 billion in the second quarter.