South Korean shares track Wall Street lower after US inflation data
South Korean shares fell on Wednesday, tracking Wall Street's losses on U.S. inflation data. The won strengthened, while the benchmark bond yield rose.
The benchmark KOSPI was down 18.13 points, or 0.56%, at 3,197.15 as of 0147 GMT, after hitting a near four-year high on Tuesday.
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September.
South Korea's finance minister nominee said he would bring regulatory improvements to the foreign exchange market, according to a media report.
Among index heavyweights, chipmaker Samsung Electronics rose 0.63%, but peer SK Hynix lost 1.51%. Battery maker LG Energy Solution slid 1.18%.
Hyundai Motor and sister automaker Kia Corp were down 0.83% and 0.60%, respectively. Steelmaker POSCO Holdings shed 2.73%, while drugmaker Samsung BioLogics fell 0.19%.
South Korean shares close at near four-year high as Samsung Electronics jumps
Of the total 932 traded issues, 224 shares advanced, while 664 declined.
Foreigners were net sellers of shares worth 280.0 billion won ($201.95 million).
The won was quoted at 1,386.3 per dollar on the onshore settlement platform, 0.14% higher than its previous close at 1,388.2.
In money and debt markets, September futures on three-year treasury bonds lost 0.03 point to 107.15.
The most liquid three-year Korean treasury bond yield rose 0.9 basis point to 2.472%, while the benchmark 10-year yield rose 2.0 bps to 2.895%.
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