Seoul:Shares in Seoul turned lower on profit-taking after an initially higher opening on Tuesday, as concerns over rising bond yields at multidecade highs impacted investor sentiment.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI), after opening 0.58 percent higher, fell 8.14 points, or 0.12 percent, to 6,995.60 by 9:15 a.m.
Investors are shifting their focus to upcoming corporate earnings, although the landscape of higher interest rates, elevated energy costs, and renewed inflation concerns is contributing to the increase in global bond yields.
In the U.S., the Dow Jones Industrial Average saw a rise of 0.18 percent, with the Nasdaq Composite gaining 1.05 percent overnight.
In the Seoul market, large-cap stocks showed mixed results. Market leader Samsung Electronics rose 0.36 percent, while Hyundai Motor increased by 0.87 percent. LG Electronics experienced a significant jump of 6.02 percent after securing a long-term agreement to supply chillers for AI data centers with a North American company.
Conversely, SK hynix, a major competitor in the chipmaking sector, saw a decline of 1.14 percent, and Korea Aerospace Industries dropped by 2.1 percent.
The Korean won was trading at 1,343.20 against the U.S. dollar, a decrease of 0.8 won from the previous session's close.