Seoul:South Korean stocks declined nearly 2 percent on Wednesday, marking a second consecutive day of losses. The decline was primarily driven by falling technology shares and concerns over rising bond yields, which have reached multidecade highs. Simultaneously, the Korean won appreciated against the U.S. dollar.

According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) opened 1.11 percent lower and continued to decline, closing down 137.49 points, or 1.98 percent, at 6,803.90. This drop occurred despite gains on Wall Street, where the Dow Jones Industrial Average increased by 0.49 percent and the Nasdaq composite rose by 0.45 percent to a record high.

Global oil prices decreased due to easing supply concerns, and bond yields retreated slightly from their recent highs. Meanwhile, the Korean won was quoted at 1,340.4 won against the U.S. dollar as of 3:30 p.m., compared to the previous session's close of 1,343.6 won.