South Korean shares post biggest weekly fall since 2008 on AI worries

SK hynix

16/10/2026 07:47

KOSPI rises, foreigners net buyers
Korean won strengthens against dollar
South Korea benchmark bond yield falls
For the midday report, please click nL1N462028
SEOUL, Oct 16 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rebounded from a six-month low on Friday on dip-buying but still ended the week with their biggest fall in 18 years on worries about the sustainability of the global AI investment boom. 
** The benchmark KOSPI .KS11 closed up 113.83 points, or 2.05%, at 5,668.05, snapping seven consecutive sessions of losses. 
** The rebound came after the KOSPI fell nearly 8% on Thursday to close at its lowest since April 7 on a tech selloff sparked by higher-than-expected US inflation data.
** "The domestic market rebounded on dip-buying after recent sharp losses," said Lee Kyoung-min, analyst at Daishin Securities.  
** For the week, the index is down 14.5%, its third straight weekly loss and the biggest since October 2008. 
** South Korea's finance ministry said it would step up financial market monitoring and closely watch for any impact of recent stock market volatility on bond, foreign exchange and short-term money markets.
** Chipmaker Samsung Electronics 005930.KS rose 2.62%, while peer SK Hynix 000660.KS gained 0.79%.
** Among other index heavyweights, battery maker LG Energy Solution 373220.KS climbed 0.12%, while Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 5.58% and up 4.06%, respectively.
** Steelmaker POSCO Holdings 005490.KS added 1.54%, while drugmaker Samsung Biologics 207940.KS rose 4.09%.
** Of the total 916 traded issues, 759 shares advanced, while 135 declined.
** Foreigners were net buyers of shares worth 341 billion won ($256.08 million).
** The won was quoted at 1,331.4 per dollar on the onshore settlement platform KRW=KFTC, 0.80% higher than its previous close.
** In money and debt markets, December futures on three-year treasury bonds KTBc1 gained 0.04 point to 102.99.
** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 0.2 basis points to 3.867%, while the benchmark 10-year yield KR10YT=RR fell by 0.8 bp to 4.194%.

($1 = 1,335.3000 won)

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