Seoul: South Korean stocks ended lower for the second consecutive day as foreign investors continued a significant selling spree, impacting the market negatively. The local currency, however, appreciated against the U.S. dollar. According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) dropped 62.71 points, or 0.86 percent, closing at 7,208.95. The trading volume was moderate, with 485.9 million shares exchanged, valued at 39.5 trillion won (approximately US$26.2 billion). The market saw a significant imbalance, with 811 stocks declining compared to just 90 gainers. The index initially opened 0.72 percent higher, but quickly reversed course within three minutes of trading, eventually falling to a low of 7,053.84 at one point. The downturn in Seoul followed the overnight trend in U.S. stocks, which continued their decline from recent record highs due to rising U.S. Treasury yields and ongoing inflation concerns, exacerbated by high oil prices amid tensions in the Middle East. "Foreign investors continued to pull out as rising U.S. Treasury yields and a higher foreign exchange rate weighed on market sentiment, pushing all sectors into negative territory," commented Lee Kyung-min, an analyst at Daishin Securities. Foreign investors sold a net 2.93 trillion won worth of local shares, focusing particularly on chipmakers and other major players in the market. This selling streak has now extended to ten consecutive sessions. Conversely, institutional and retail investors showed some buying interest, purchasing a net 1.1 trillion won and 1.7 trillion won, respectively. Despite the overall market decline, some stocks experienced mixed trading. Samsung Electronics' shares rose slightly by 0.18 percent to 276,000 won, following breakdowns in labor union talks ahead of a major planned strike. The management emphasized their commitment to continuing negotiations, asserting that a strike should be avoided. In contrast, SK hynix's shares remained stable at 1,745,000 won. Meanwhile, SK Square, an AI investment firm, saw an increase of 0.88 percent to 1.023 million won, while LG Energy Solution, a leading battery maker, fell by 3.88 percent to 384,500 won. Auto sector shares also took a hit, with Hyundai Motor losing 1.99 percent to 592,000 won and its affiliate Kia dropping 3.55 percent to 149,400 won. The Korean won was quoted at 1,506.8 against the U.S. dollar at 3:30 p.m., marking an increase of 1 won from the previous session. Bond prices, which move inversely to yields, also ended lower. The yield on three-year Treasurys rose by 0.9 basis points to 3.760 percent, while the return on benchmark five-year government bonds slightly increased by 0.1 basis points to 3.973 percent.