South Korean shares fall on profit taking; BOK in focus

South Korea’s KOSPI dropped 1.16% to 5,669.32 on Thursday, giving back some of the previous day’s 3.3% rise as investors took profits in chip stocks. Business Recorder, citing Reuters, reported that the Bank of Korea kept its benchmark rate unchanged after raising it in July and August.

The central bank said it would maintain its rate for now, while strong chip-related growth and inflation above its target left further tightening as a possibility. Samsung Electronics lost 1.34% and SK Hynix fell 1.93%; the won was also slightly weaker against the dollar, while Korean government bond yields declined. Investors were awaiting Governor Shin Hyun Song’s remarks for guidance on rates and growth.