FX.co ★ South Korean Shares Nearly Flat on Soft Data

On Tuesday, the benchmark KOSPI remained relatively unchanged around the 3,430 mark, exhibiting little fluctuation as lackluster domestic data affected market sentiment. South Korea's industrial production for August showed no growth, contrary to expectations of a slight increase, and retail sales experienced a 2.2% decline, marking the steepest fall since February 2024. This decline highlighted weak consumer demand and sparked concerns about the country's growth trajectory. In terms of corporate performance, the financial, energy, and biopharmaceutical sectors led the losses, with KB Financial Group and Doosan Enerbility each dropping by 1.1%, Naver down 1.5%, and Celltrion decreasing by 2%. These losses were somewhat balanced by gains in the technology sector, where Samsung Electronics and SK hynix each rose by 0.1%. The industrial sector also saw advances, particularly Hanwha Aerospace, which increased by 3%, and HD Hyundai Heavy Industries, up by 4%. Globally, attention was directed towards the forthcoming US payrolls data, while market sentiment was also affected by cautious comments from Seoul’s national security advisor regarding the uncertain prospects of a bilateral currency swap with Washington.