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Seoul Shares Open Lower Amid Rising U.S. Bond Yields and Oil Prices

morning · · thread: Oil Prices Drop as US and Iran Pause Military Hostilities

4 sources across 3 countries · South Korea · Taiwan · United Kingdom · 1 of them is linked to a state

Who reported this

  • Yonhap South Korea · Centre · State-affiliated · Cooperative; statutory national agency with state subsidy
  • The Korea Herald South Korea · Centre-right · Herald Corporation (Yeongpoong Group)
  • Focus Taiwan Taiwan · Centre · Public · Central News Agency, statutory funding
  • Reuters United Kingdom · Centre · Thomson Reuters Corporation

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
  • A hatched block means the outlet is affiliated with, or controlled by, a state.

Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.

Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.

The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.

Seoul shares opened lower on Friday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) opened 1.35 percent lower, falling 92.63 points to 6,759.95. By 9:15 a.m. the index had trimmed its losses to a decline of 21.05 points, or 0.31 percent, to 6,831.53.

The decline followed a trend in the United States where Treasury yields rose again on Thursday. This rebound occurred after the U.S. Treasury announced an expanded bond buyback plan, though investors remained skeptical that the move would provide more than temporary relief from rising long-term borrowing costs. Overnight, the Dow Jones Industrial Average fell 1.32 percent, the S&P 500 slipped 0.87 percent, and the Nasdaq Composite Index dropped 1 percent.

Investor sentiment was further weighed down by higher oil prices. Brent crude rose more than 2 percent amid renewed tensions between the U.S. and Iran. In Seoul, while most shares traded lower, major chipmakers bucked the trend. Samsung Electronics climbed 0.65 percent and SK hynix rose 1.83 percent. Conversely, battery manufacturer LG Energy Solution fell 2.65 percent and Hyundai Motor fell 1.2 percent.

Other regional markets also saw declines, with the Taiwan Stock Exchange's main index opening down 10.4 points at 44,923.34. The Korean won was trading at 1,391.4 won against the U.S. dollar as of 9:15 a.m. an increase of 4.6 won from the previous session's close.

How each side framed it

Centre
These outlets focused on the technical drivers of the market decline, specifically U.S. Treasury yields and oil prices.
Centre-right
This outlet provided a factual report identical to the center-lean coverage regarding the market's opening.

Sources

100% of the statements in this article were traced back to the source articles listed above.