The benchmark KOSPI slipped to around 6,820 on Thursday, logging a fourth consecutive session of losses as persistently high US Treasury yields continued to pressure equities. The 10-year US Treasury yield climbed to 5.3%, nearing its highest level since 2002, while the 30-year yield moved above 5.6%.
Blue-chip tech names retreated, with Samsung Electronics and SK hynix posting modest declines. Other notable losers included Samsung Electro-Mechanics (-2.3%), KB Financial Group (-1.8%), Shinhan Financial Group (-1.8%), HD Hyundai Heavy Industries (-1.3%), and LG Electronics (-2.1%).
Persistent foreign selling exacerbated the downside in Korean equities, with net outflows reaching approximately KRW 21.5 trillion in September.
On a more positive note, South Korea’s exports surged 83.5% year-on-year to a record $120.9 billion in September, driven by a 263% jump in semiconductor exports to a record $60.3 billion. In addition, Micron’s stronger-than-expected results and upbeat guidance further underscored robust underlying demand for AI-related memory products.
