The benchmark KOSPI inched up to around 6,640 on Wednesday, partially recovering from the previous session’s decline, supported by gains in semiconductor and battery shares. SK hynix advanced more than 1%, while Samsung Electronics and LG Energy Solution each rose nearly 1%, helping to buoy the index despite a generally cautious market tone.
At the same time, surging oil prices remained a major headwind, with Brent crude climbing above $108 a barrel amid escalating tensions in the Middle East and disruptions to a key Saudi oil pipeline. Higher energy costs risk adding to inflationary pressures and squeezing margins for Korean companies, which depend heavily on imported energy.
Investor sentiment was further tempered as the US 10-year Treasury yield briefly surpassed 5% for the first time since 2007, heightening worries about equity valuations and tighter financial conditions. Market participants also stayed on guard ahead of the Federal Reserve’s policy decision, closely monitoring any guidance on the future trajectory of US interest rates.
