FX.co ★ South Korean Shares Snap 3-Day Rally

The benchmark KOSPI fell more than 1% to around 6,840 on Friday, breaking a three-session winning streak, as investors stayed cautious ahead of Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole symposium later in the day.

The pullback came despite a strong overnight performance on Wall Street, driven by Nvidia’s better-than-expected earnings and upbeat revenue guidance. Korean chipmakers failed to mirror the US tech rally, with both Samsung Electronics and SK hynix retreating more than 1%, curbing any positive spillover from the US market.

Sentiment was further weighed down by Samsung Biologics, which slumped nearly 5% after announcing plans to raise KRW 3 trillion through a rights offering. Additional notable decliners included LG Energy Solution (-1.8%), Hanwha Aerospace (-2.6%), HD Hyundai Heavy Industries (-2.8%), SK Inc. (-2.5%), and LS Electric (-1.8%).