South Korean shares fell sharply on Sept 11 as surging oil prices revived inflation concerns and investors awaited key US consumer-price data for clues on the Federal Reserve’s interest-rate outlook.
Yonhap reported that the Kospi dropped 124.01 points, or 1.76%, to 6,909.91, recovering from an opening plunge of 3.29%. Foreign and institutional investors sold a net 2.29 trillion won and 1.22 trillion won worth of shares respectively, while retail investors bought a net 1.87 trillion won.
Sentiment weakened after rising oil prices triggered an overnight Wall Street sell-off amid escalating Middle East tensions. Investors were also awaiting US inflation data to assess whether higher energy costs were feeding broader price pressures.
Technology heavyweights led the retreat. Samsung Electronics fell 3.53% to 259,500 won, while SK hynix lost 2.21% to 1.81 million won.
Elsewhere, Hyundai Motor declined 1.67%, LG Energy Solution fell 1.37% to 360,000 won and refiner SK Innovation tumbled 5.42% to 144,800 won.
Defence and shipbuilding stocks bucked the weakness, with HD Hyundai Heavy Industries jumping 5.62% to 479,000 won and Hanwha Aerospace gaining 1.31% to 1.08 million won.
Trading volume reached 265.92 million shares worth 19.39 trillion won, with 473 decliners outnumbering 368 gainers. The Korean won also weakened against the US dollar.
