South Korean shares fall as volatility heightens in chipmaker stocks - Reuters News

- Round-up of South Korean financial markets:


** South Korean shares fell in a choppy session on Wednesday, as volatility heightened in chipmaker stocks on AI worries and growing concern over risky investment products.

** The benchmark KOSPI .KS11 was down 161.84 points, or 2.11%, at 7,494.47 as of 0234 GMT.

** The index opened the session lower to fall as much as 4% and hit the lowest level since late May but later rebounded to rise 1.8%, before turning down again.

** South Korea's finance minister agreed with other economic policymakers to closely monitor risk factors that could heighten stock market volatility, on worries about recently introduced single-stock leveraged exchange-traded funds (ETFs).

** Overnight, U.S. semiconductor shares slumped, with Intel INTC.O, Micron MU.O and AMD AMD.O falling 9.7%, 4.7% and 6.5%, respectively. The Philadelphia Semiconductor Index .SOX also lost 4.7% as investors questioned whether AI-related spending could be sustained. .N

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS fell 3.55%, while peer SK Hynix 000660.KS gained 1.23%. Battery maker LG Energy Solution 373220.KS slid 4.07%.

** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were down 2.50% and up 2.15%, respectively. Steelmaker POSCO Holdings 005490.KS shed 2.22% and drugmaker Samsung BioLogics 207940.KS fell 2.39%.

** Of the total 911 traded issues, 173 shares advanced, while 706 declined.

** Foreigners were net sellers of shares worth 471.7 billion won ($311.68 million).

** The won was quoted at 1,513.8 per dollar on the onshore settlement platform KRW=KFTC, 0.13% higher than its previous close at 1,515.8.

** In money and debt markets, September futures on three-year treasury bonds KTBc1 lost 0.09 point to 103.01.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose 3.6 basis points to 3.814%. The benchmark 10-year yield KR10YT=RR rose 5.3 basis points to 4.265%.


($1 = 1,513.4000 won)


(Reporting by Jihoon Lee; Editing by Janane Venkatraman)