South Korean stocks closed lower for the third day in a row due to investors’ worries about geopolitical uncertainties and high US bond yields. The benchmark Korea Composite Stock Price Index dropped by 0.76 percent. Trading volume was low, and decliners outnumbered gainers. The ongoing conflict between Israel and Hamas added to the unfavorable circumstances for investors. In the US, all three major indexes plunged as the yield on the 10-year Treasury approached 5 percent. In Seoul, tech and financial stocks led the market decline. Samsung Electronics and SK hynix, both chipmakers, saw their stock prices fall. Financial shares also declined, while auto shares, such as Hyundai Motor and Kia, were strong. Battery shares were mixed. The local currency, the won, fell against the US dollar.

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By hassani

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