South Korea’s KOSPI opens 3.14% lower as rate concerns, Middle East tensions weigh

  • South Korea’s KOSPI opened 3.14% lower at 6,692.61 on Sept. 14.
  • SK hynix fell 5.24% to 1.717 million won in early trading.
  • U.S. rate-hike odds rose to 86% after August core CPI increased 0.3%.

South Korea’s KOSPI opened 3.14% lower at 6,692.61 on Sept. 14 as Middle East shipping uncertainty and hotter-than-expected U.S. core inflation weakened risk appetite. SK hynix fell 5.24% and Samsung Electronics lost 3.66%, while the KOSDAQ also declined. August U.S. core CPI rose 0.3% from the prior month, lifting futures-implied odds of a September Federal Reserve rate increase to 86% from 69%. Oil-price concerns persisted after planned talks on reopening the Strait of Hormuz were postponed, despite a Wall Street rebound and an end to West Texas Intermediate crude’s eight-session advance.

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