KOSPI recovers to 6,640 as chip stocks offset oil, yield concerns

  • The KOSPI recovered to around 6,640 after opening lower, with semiconductor and battery shares leading gains.
  • Brent crude exceeded $108 a barrel and the U.S. 10-year Treasury yield briefly topped 5%.
  • The Nikkei later fell 0.2% while investors monitored Middle East supply risks and awaited the Federal Reserve decision.

South Korea’s KOSPI later recovered to around 6,640 as gains in semiconductor and battery shares, including SK hynix, Samsung Electronics and LG Energy Solution, offset concerns over surging oil prices, higher bond yields and Middle East supply disruptions. The index had opened lower at 6,611.24, down 16.02 points, or 0.24%, although an earlier report cited 6,615.69, down 11.57 points, or 0.17%. Japan’s Nikkei 225 later fell 0.2% to 63,359.03 as chip-related losses outweighed gains in energy companies and trading houses, while the Topix rose 0.5% to 4,057.60. Brent crude climbed above $108 a barrel, and the U.S. 10-year Treasury yield briefly exceeded 5%, as investors awaited the Federal Reserve’s policy decision and guidance on U.S. interest rates.

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