South Korea shares drop on chip stocks valuation uncertainties

Hyundai Motor Co

06/07/2026 04:15

KOSPI falls, foreigners net sellers
Korean won weakens against dollar
South Korea benchmark bond yield falls

    SEOUL, July 6 (Reuters) - Round-up of South Korean financial markets:  
** South Korean shares fell on Monday, as technology shares lost momentum, with chipmaker SK Hynix preparing to list $29 billion American depositary receipts on the Nasdaq. The won weakened, while the benchmark bond yield fell.  
** The benchmark KOSPI .KS11 was down 240.93 points, or 2.98%, at 7,847.41 as of 0245 GMT. The index has risen 86.21% so far this year.
** Among index heavyweights, chipmaker Samsung Electronics 005930.KS fell 1.53%, while peer SK Hynix 000660.KS lost 5.20%. Battery maker LG Energy Solution 373220.KS slid 3.86%.
** SK Hynix will sell 17.79 million new shares in the depositary receipt listing, making it one of the world's most valuable tech firms. 
** South Korean President Lee Jae Myung on Monday ordered officials to move quickly to execute major chip and AI projects announced last week.      
** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 0.61% and up 2.83%, respectively. Steelmaker POSCO Holdings 005490.KS shed 2.03%, while drugmaker Samsung BioLogics 207940.KS fell 3.03%. 
** Of the total 913 traded issues, 268 shares advanced, while 618 declined. 
** Foreigners were net sellers of shares worth 828.8 billion won. 
** In offshore trading, the won KRW= was quoted at 1,532.9 per dollar, down 0.3% on the day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,531.4. 
** The won has weakened 6.2% against the dollar so far this year. 
** In money and debt markets, September futures on three-year treasury bonds KTBc1 gained 0.06 point to 103.12. 
** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 0.9 basis point to 3.761%, while the benchmark 10-year yield KR10YT=RR fell by 2.5 bps to 4.171%.

(Reporting by Cynthia Kim; Editing by Harikrishnan Nair)
((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net/))