FX.co ★ South Korean Shares Extend Losses

The benchmark KOSPI slipped to around 6,660 on Tuesday, extending its losing streak to a fourth consecutive session. Sentiment was pressured by a global selloff in technology shares amid mounting concerns over a potential slowdown in artificial intelligence development, which weighed heavily on the broader index. Overnight, Nvidia dropped 3%, while Broadcom and AMD each fell more than 4%, amplifying worries about the trajectory of AI-related capital spending and future semiconductor demand.

Performance among large-cap names was mixed. KB Financial Group (-2.4%), Doosan Enerbility (-0.8%), Hanwha Aerospace (-5.01%), and HD Hyundai Heavy Industries (-4.0%) all declined, whereas Samsung Electronics (+0.8%) and SK hynix (+0.7%) posted gains.

Macro headwinds also intensified. The US 10-year Treasury yield briefly reached its highest level since October 2023 ahead of this week’s Federal Reserve policy meeting, putting additional pressure on growth-oriented stocks. At the same time, oil prices held above $100 per barrel amid rising geopolitical tensions in the Middle East following Saudi Arabia’s closure of a key pipeline, sustaining concerns over inflation and elevated input costs.