South Korean shares trim early gains as chipmakers turn lower

LG Energy Solution

03/09/2026 07:46

KOSPI rises, foreigners net sellers
Korean won weakens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N44V015
SEOUL, Sept 3 (Reuters) - Round-up of South Korean financial markets:
     
** South Korean shares cut early gains on Thursday, as chipmakers turned lower amid worries about high bond yields and escalating conflict between the U.S. and Iran. 
** The benchmark KOSPI .KS11 closed up 16.76 points, or 0.26%, at 6,579.48, after rising as much as 1.8% earlier in the session. 
** During the session, the index briefly turned lower to fall as much as 1.9%. 
** Chipmaker Samsung Electronics 005930.KS ended down 0.20% and peer SK Hynix 000660.KS lost 1.05%, erasing early gains.
** "Risk-averse sentiment heightened across global markets with the yen suddenly strengthening sharply in afternoon trade amid bond yields already at high levels," said Seo Sang-young, an analyst at Mirae Asset Securities.    
** Fears of renewed escalation gripped the Middle East on Wednesday after the United States and Iran exchanged their biggest barrage since July, with Washington striking Iran's southern coast and Tehran firing at U.S. bases across the region.
** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 5.18%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 1.46% and up 2.41%, respectively.
** Steelmaker POSCO Holdings 005490.KS added 3.64%, while drugmaker Samsung BioLogics 207940.KS fell 1.60%.
** Of the total 909 traded issues, 425 shares advanced, while 432 declined.
** Foreigners were net sellers of shares worth 499.6 billion won ($367.68 million).
** The won was quoted at 1,359.3 per dollar on the onshore settlement platform KRW=KFTC, 0.01% lower than its previous close at 1,359.2.
** In money and debt markets, September futures on three-year treasury bonds KTBc1 gained 0.17 point to 103.12.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 4.6 basis points to 3.894%, while the benchmark 10-year yield KR10YT=RR fell by 3.6 basis points to 4.368%.
     
($1 = 1,358.8000 won)

(Reporting by Jihoon Lee; Editing by Rashmi Aich)
((jihoon.lee@thomsonreuters.com;))