South Korea shares to log second weekly decline

Business Recorder reported that South Korean shares fell on Friday, putting the KOSPI on course for a second straight weekly decline. At 02:09 GMT the benchmark stood 74.15 points lower, or 1.07 per cent, at 6,838.22, and it has shed 1 per cent over the week.

Investor enthusiasm for artificial intelligence stocks faded after Nvidia's outlook, while traders stayed careful ahead of the Federal Reserve's Jackson Hole event. Nvidia's second-quarter revenue came in at $96.22 billion, ahead of the $92.17 billion estimate. On Thursday, Fed officials attending the Kansas City Fed's annual symposium in Wyoming voiced continued unease about US inflation.

Among index heavyweights, Samsung Electronics lost 2.26 per cent and SK Hynix retreated 1.45 per cent, while Samsung BioLogics dropped 4.74 per cent. Overseas investors sold a net 519.9 billion won ($377.22 million) of shares, and the won firmed 0.30 per cent to 1,377.4 per dollar. The benchmark 10-year bond yield climbed 4.6 basis points to 4.298 per cent.