South Korea shares fell after selloff continues on Wall Street

South Korean equities dropped on Tuesday as weakness in US technology shares weighed on sentiment, Business Recorder reported. The KOSPI stood at 5,699.97, down 159.11 points, or 2.72%, at 0233 GMT, with declines among major chip, battery and automobile companies. Samsung Electronics fell 3.17% and SK Hynix lost 4.14%, while LG Energy Solution and Hyundai Motor also moved lower.

The fall came despite oil prices dropping by more than 7% on Monday, which the report linked to hopes for an end to the US-Israeli conflict with Iran and more stable regional crude supplies. The won gained 0.39% to 1,340.8 per dollar, while yields on three-year and 10-year Korean government bonds declined to 3.724% and 3.997%, respectively. Foreign investors sold a net 811.4 billion won of shares, and 624 of 908 traded issues declined.