South Korean shares log 6-month closing low as chipmakers fall on profit-taking

SK hynix

Thu 07:49

KOSPI falls, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N46800V
SEOUL, Oct 22 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell more than 3% on Thursday to close at an over six-month low, as chipmakers dropped on profit-taking amid persistent doubts over the global AI investment boom, while the central bank's hawkish policy stance signalled further interest rate hikes. 
** The benchmark KOSPI .KS11 closed down 201.89 points, or 3.52%, at 5,533.77, its lowest closing level since April 7. On Wednesday, the index rose 3.3%, marking the biggest daily gain in six weeks on a rebound in chipmakers. 
** The Bank of Korea kept its benchmark interest rate unchanged but maintained a hawkish stance by upgrading its economic growth forecasts and remaining upbeat about the country's export momentum.    
** "The chip sector fell on profit taking after a rebound in the previous session. Meta and Tesla's earnings failed to provide as much relief as SpaceX and Super Micro did," said Lee Kyoung-min, an analyst at Daishin Securities.
** Meta META.O forecast fourth-quarter revenue above Wall Street estimates on Wednesday and reported strong growth in its new consumer AI agent app Muse.
** Tesla TSLA.O cut its annual capital expenditure forecast by a fifth, after investing far less in its AI and robotics ambitions than Wall Street had expected.
** Chipmaker Samsung Electronics 005930.KS fell 4.03%, while peer SK Hynix 000660.KS lost 5.49%.
** Among other index heavyweights, battery maker LG Energy Solution 373220.KS slid 5.22%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 2.58% and down 1.54%, respectively.
** Of the total 914 traded issues, 174 shares advanced, while 709 declined.
** Foreigners were net buyers of shares worth 61.4 billion won ($46.40 million).
** The won was quoted at 1,324.2 per dollar on the onshore settlement platform KRW=KFTC, 0.14% higher than its previous close at 1,326.0.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 0.2 basis points to 3.830%, while the benchmark 10-year yield KR10YT=RR fell by 1.4 bps to 4.153%.

($1 = 1,323.4000 won)

 (Reporting by Jihoon Lee; Editing by Sonia Cheema)
 ((jihoon.lee@thomsonreuters.com;))