KOSPI closes lower as won rises and oil concerns lift Treasury yields

  • The KOSPI fell 0.27% to 6,870.81 as foreign investors sold South Korean shares.
  • Foreign investors sold a net 2.903 trillion won, while individuals and institutions bought shares.
  • The won closed at 1,356.7 per dollar and the Kosdaq rose 0.38% to 849.80.

South Korean shares fell for a second straight session on Sept. 29, with the KOSPI declining 18.93 points, or 0.27%, to 6,870.81 as U.S. Treasury yields rose into the 5.2% range and West Texas Intermediate crude exceeded $93 a barrel. Foreign investors sold a net 2.903 trillion won of shares, while individual and institutional buying helped the benchmark recover from an intraday low of 6,782.99. Samsung Electronics rose 0.93% to 272,500 won after falling as low as 266,000 won, while SK hynix edged down 0.17% to 1.765 million won. The Kosdaq ended 0.38% higher at 849.80, and the won strengthened 8.4 won to 1,356.7 per dollar as exporter dollar sales increased near quarter-end.

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