South Korea shares log second weekly loss on AI rally concerns

Hyundai Motor Co

03/07/2026 08:49

KOSPI rises, foreigners net sellers
Korean won strengthens against dollar
South Korea benchmark bond yield rises
For the midday report, please click nL1N435041

    SEOUL, July 3 (Reuters) - Round-up of South Korean financial markets:
     ** South Korean shares closed higher on Friday, but logged a second weekly loss as a sharp selloff in technology companies earlier in the week weighed on Samsung Electronics and SK Hynix on concerns the AI-driven rally may be losing steam. 
** The won strengthened, while the benchmark bond yield rose. ** The benchmark KOSPI .KS11 closed up 440.25 points, or 5.76%, at 8,088.34. For the week, the index declined 3.84%. ** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 8.22% following media reports that Anthropic PBC is in talks with Samsung Electronics to be a manufacturing partner for a custom AI chip. 
** Shares of SK Hynix 000660.KS gained 10.88% and battery maker LG Energy Solution 373220.KS climbed 2.40%.     ** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 2.07% and 4.68%, respectively. Steelmaker POSCO Holdings 005490.KS added 0.79%, while drugmaker Samsung BioLogics 207940.KS rose 1.07%.
** South Korean conglomerates SK Group, Hyundai Motor Group 005380.KS and Hanwha 000880.KS on Friday unveiled investment initiatives spanning robotics, manufacturing AI, self-driving mobility and space projects for the country's southeast.  ** Of the total 913 traded issues, 589 shares advanced, while 297 declined. ** Foreigners were net sellers of shares worth 2,212.3 billion won. ** The won was quoted at 1,531.5 per dollar on the onshore settlement platform KRW=KFTC, 0.56% higher than its previous close at 1,540.0. ** The KOSPI has risen 91.93% so far this year. ** The won has weakened 6.0% against the dollar so far this year. ** In money and debt markets, September futures on three-year treasury bonds KTBc1 gained 0.03 point to 103.06. ** The most liquid three-year Korean treasury bond yield KR3YT=RR rose 0.5 basis points to 3.752%, while the benchmark 10-year yield KR10YT=RR rose 1.1 basis points to 4.191%.

 (Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips)
 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))