From Nasdaq:

South Korean shares continue to fall for the sixth consecutive session, reaching their lowest point in a month due to underwhelming performances in chipmakers and battery heavyweights. With a weakening won and a rise in benchmark bond yield, the outlook remains uncertain. The Bank of Korea’s upcoming monetary policy meeting and U.S. inflation data will be closely monitored as concerns persist. Foreigners were net sellers of shares worth 94.4 billion won ($71.46 million) on the main board.

The benchmark KOSPI .KS11 dropped 13.21 points, or 0.52%, at 2,548.03 by 0112 GMT, marking its lowest level since Dec. 14. Additionally, South Korea’s jobless rate increased to a nearly two-year high in December, and Samsung Electronics 005930.KS extended its drop to lose 0.80%, following the chipmaker’s weak profit forecast. Moreover, South Korean battery makers weakened, echoing a drop in shares of U.S. electric vehicle giant Tesla TSLA.O.

In contrast, automakers and online platform companies rose, while biopharmaceutical manufacturers were struggling for direction. Of the total 937 traded issues, 314 shares advanced, while 544 declined. The won was quoted at 1,320.4 per dollar, about 0.36% lower than its previous close at 1,315.7. In money and debt markets, March futures on three-year treasury bonds KTBc1 fell 0.06 point to 104.93.

The most liquid three-year Korean treasury bond yield rose 1.3 basis points to 3.269%, while the benchmark 10-year yield climbed 1.6 basis points to 3.340%. The current economic climate in South Korea has sparked concerns, and market participants await the outcome of the Bank of Korea’s monetary policy meeting and U.S. inflation data. Investors, both local and foreign, are carefully evaluating their positions in light of these developments.



Read more: South Korean shares extend losses as chip, battery makers weigh