Seoul stocks slip on profit-taking as investors eye Bank of Korea
Reuters reports the KOSPI fell over 1% on chip-sector profit-taking, while the Bank of Korea kept rates unchanged and traders awaited the governor's remarks.
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what happened
According to Reuters, South Korean stocks dropped more than 1% on Thursday as investors locked in gains in semiconductors. The benchmark KOSPI lost 66.34 points, or 1.16%, to 5,669.32 by 0126 GMT, following a 3.3% jump on Wednesday, its best day in six weeks.
The Bank of Korea kept its key rate steady after two quarter-point hikes in July and August. Strong chip-led growth and inflation above target leave room for more tightening. Market participants are looking to central bank governor Shin Hyun Song, who speaks at 0210 GMT.
Samsung Electronics slid 1.34% and SK Hynix shed 1.93%, while LG Energy Solution dropped 3.77%. Hyundai Motor and Kia fell 2.58% and 1.18%. Of 910 issues traded, 322 advanced and 528 declined. Foreign investors were net buyers worth 107.4 billion won, or $80.97 million. The won traded at 1,326.2 per dollar against 1,326.0 earlier, and the three-year yield eased 3.3 basis points to 3.799%, while the 10-year slipped to 4.136%.
why it matters
Chipmakers carry heavy weight in the KOSPI, so moves in Samsung and SK Hynix drive index swings. The central bank's signals on further tightening also matter for the won and local bond yields.
market impact
KOSPI, Samsung, SK Hynix: profit-taking after a sharp rally; won and Korean bonds: rate outlook in focus
tags
instruments
sources
- South Korean shares fall on profit taking; BOK in focus — Reuters, 22 October 2026 at 01:50 UTC
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