South Korean Shares Fall on US Election Fears
The benchmark KOSPI fell 1.51% to around 5,563 on Wednesday, extending losses in the previous session as weakening US stock futures and uncertainty surrounding the US midterm elections weighed on investor sentiment. The pullback followed an initially positive session on Wall Street, but futures turned lower as investors assessed the potential for a shift in the balance of power in Congress. S&P 500 futures declined 0.6%, while Nasdaq-100 futures shed 0.5% and Dow Jones futures fell 0.5%. Among individual stocks, notable decliners were LG Energy Solution (-6.21%), Samsung Biologics (-2.0%), and Kia Corp (-1.60%). In contrast, chipmakers Samsung Electronics (+0.34%) and SK Hynix (+1.0%) advanced, alongside financial firms KB Financial (+0.92%) and Shinhan Financial (+1.64%).
The benchmark KOSPI fell 1.51% to around 5,563 on Wednesday, extending losses in the previous session as weakening US stock futures and uncertainty surrounding the US midterm elections weighed on investor sentiment. The pullback followed an initially positive session on Wall Street, but futures turned lower as investors assessed the potential for a shift in the balance of power in Congress. S&P 500 futures declined 0.6%, while Nasdaq-100 futures shed 0.5% and Dow Jones futures fell 0.5%. Among individual stocks, notable decliners were LG Energy Solution (-6.21%), Samsung Biologics (-2.0%), and Kia Corp (-1.60%).
In contrast, chipmakers Samsung Electronics (+0.34%) and SK Hynix (+1.0%) advanced, alongside financial firms KB Financial (+0.92%) and Shinhan Financial (+1.64%).