South Korean shares fall more than 3% on profit taking

LG Energy Solution

19/05/2026 02:56

KOSPI falls, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield rises

SEOUL, May 19 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares slumped on Tuesday, as overnight losses in U.S. chip stocks triggered investors to book profits from a recent chipmaker-driven rally.

** The benchmark KOSPI .KS11 was down 230.12 points, or 3.06%, at 7,285.92, as of 0136 GMT. It has risen 71% so far this year, after rising 76% last year.

** The Nasdaq and the benchmark S&P 500 closed lower on Monday as investors took some profits in technology stocks, while surging Treasury yields and high oil prices fuelled concerns that inflation and borrowing costs could stay elevated. .N

** "Major semiconductor stocks, both at home and abroad, are at levels of profit-taking pressure after recent steep gains," said Han Ji-young, an analyst at Kiwoom Securities.

** Among KOSPI index heavyweights, chipmaker Samsung Electronics 005930.KS fell 3.20%, while peer SK Hynix 000660.KS lost 3.04%. Battery maker LG Energy Solution 373220.KS slid 2.94%.

** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 8.30% and 4.86%, respectively. Steelmaker POSCO Holdings 005490.KS shed 4.75%, while drugmaker Samsung BioLogics 207940.KS fell 1.66%.

** Of the total 909 traded issues, 136 shares advanced, while 752 declined.

** Foreigners were net sellers of shares worth 2.6 trillion won ($1.73 billion).

** The won was quoted at 1,500.7 per dollar on the onshore settlement platform KRW=KFTC, 0.52% lower than its previous close at 1,492.9.

** In money and debt markets, June futures on three-year treasury bonds KTBc1 lost 0.05 point to 103.11.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 1.2 basis points to 3.777%, while the benchmark 10-year yield KR10YT=RR rose by 0.3 bp to 4.234%.

($1 = 1,501.4000 won)

(Reporting by Jihoon Lee; Editing by Harikrishnan Nair)

((jihoon.lee@thomsonreuters.com;))