Cospi declines over 2 percent amid chip sector pressure

South Korean stocks declined by more than 2% in the first session after a long holiday, amid concerns over rising bond yields and the impact on the shares of major chip companies, such as Samsung and SK Hynix. Additionally, yields on Korean 3- and 10-year Treasury bonds increased, putting pressure on the technology and growth sectors. Investors are also awaiting export data and earnings reports from Micron Technology to gauge the demand outlook for AI-related chips. These developments pose significant challenges for Korea’s technology sector, as worries about rising financing costs and their effect on global electronics demand persist.

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