South Korean Shares Fall from Record Levels

2026-06-02 01:37 By Erika Ordonez 1 min. read

The benchmark KOSPI fell nearly 2% to around 8,630 on Tuesday, retreating from record highs as investors locked in profits amid renewed Middle East tensions and mounting inflation concerns.

Oil prices remained elevated after reports that Iran suspended negotiations with the US, fueling concerns over potential disruptions to global energy supplies and adding pressure on inflation.

South Korea's annual inflation rate accelerated to 3.1% in May, the highest in over two years, reinforcing bets that the Bank of Korea could maintain a hawkish policy stance for longer.

Losses were seen in SK Hynix (-2.3%), SK Square (-1.9%), Hyundai Motor (-5.3%), Hyundai Mobis (-5.9%), and Doosan Enerbility (-5.5%).

Still, declines were partly tempered by continued optimism over artificial intelligence demand after Nvidia unveiled a new AI-focused chip and CEO Jensen Huang met SK Group Chairman Chey Tae-won to discuss AI memory cooperation.

Samsung Electronics gained 2.4%, while LG Energy Solution rose 2.5%.



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South Korean Shares Fall from Record Levels
The benchmark KOSPI fell nearly 2% to around 8,630 on Tuesday, retreating from record highs as investors locked in profits amid renewed Middle East tensions and mounting inflation concerns. Oil prices remained elevated after reports that Iran suspended negotiations with the US, fueling concerns over potential disruptions to global energy supplies and adding pressure on inflation. South Korea's annual inflation rate accelerated to 3.1% in May, the highest in over two years, reinforcing bets that the Bank of Korea could maintain a hawkish policy stance for longer. Losses were seen in SK Hynix (-2.3%), SK Square (-1.9%), Hyundai Motor (-5.3%), Hyundai Mobis (-5.9%), and Doosan Enerbility (-5.5%). Still, declines were partly tempered by continued optimism over artificial intelligence demand after Nvidia unveiled a new AI-focused chip and CEO Jensen Huang met SK Group Chairman Chey Tae-won to discuss AI memory cooperation. Samsung Electronics gained 2.4%, while LG Energy Solution rose 2.5%.
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South Korean Shares Set Fresh Record on Tech Rally
The benchmark KOSPI climbed 3.68% to close at 8,788 on Monday, hitting a fresh record high amid strong semiconductor exports and continued AI-driven demand. South Korea’s exports surged 53% year-on-year to a record $87.8 billion in May, led by a 169% jump in semiconductor shipments, reinforcing optimism over the sector’s earnings outlook. Samsung Electronics led the advance, soaring 10.09%, while LG Electronics jumped 29.86% as investors looked ahead to Nvidia CEO Jensen Huang’s visit to South Korea later this week on expectations of AI and semiconductor partnership opportunities. Additional support came from record highs on Wall Street, fueled by sustained enthusiasm for AI infrastructure spending. Other notable gains included SK Hynix (1.29%), SK Square (1.87%), Hyundai Motor (3.73%), Doosan Enerbility (1.23%), and KB Financial Group (1.00%). However, lingering uncertainty surrounding US-Iran negotiations and higher oil prices kept broader geopolitical and inflation risks in focus.
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South Korean Shares Surge to Fresh Peak
The benchmark KOSPI jumped 3.55% to close at 8,476 on Friday, reaching fresh record highs after briefly retreating as investor appetite improved on easing geopolitical tensions in the Middle East. Optimism grew after reports said the United States and Iran agreed to extend their ceasefire framework and resume talks on Tehran’s nuclear program. Support also came from Wall Street, where major US indexes closed at record highs overnight, led by gains in the S&P 500 and Nasdaq. Gains in Seoul were driven largely by technology and automobile stocks, with heavyweight shares such as Samsung Electronics (+5.84%), SK Hynix (+1.92%), Hyundai Motor (+6.79%), and Kia Corp (+2.98%) advancing strongly. Separately, Investors also monitored fresh economic data, as South Korea’s industrial production unexpectedly fell 0.7% in April while retail sales slumped 3.6%, marking the steepest decline since July 2020.
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