KOSPI plunges in the % range as U.S. Treasury yields surge3—exchange rate tops1,510won
South Korea’s stock market plunged as U.S. Treasury yields surged. The KOSPI fell in the % range during intraday trading, retreating below the mark, while the won-dollar exchange rate topped won intraday. Domestic retirement pension assets exceeded trillion won, and the return was tallied at %.3—7,100below the mark, while the won-dollar exchange rate topped1,510Domestic retirement pension assets exceeded500trillion won, and the return was tallied at6.5%.
As U.S. Treasury yields surged, South Korea’s stock market and foreign exchange rates fluctuated sharply. The KOSPI fell in the % range during intraday trading, and the index dropped below the mark.3in the % range during intraday trading, and the index dropped7,100below the mark. Large-cap, mid-cap, and small-cap stocks all weakened during trading.
The won-dollar exchange rate topped1,510won intraday. The rise in the exchange rate heightened volatility in the foreign exchange market. Expanded orders from foreign exchange market participants were observed.
Returns on gold-related exchange-traded funds (ETFs) and exchange-traded notes (ETNs) slowed. Short-term performance of gold investment products weakened. Changes in trading value for related products were also reported.
Reports have highlighted growing interest in Korean stocks among overseas retail investors and plans to expand the lineup of Korean ETFs. They have covered moves to launch new ETFs and expectations of fund inflows. Some plans to expand ETF supply have been announced.
Domestic retirement pension assets surpassed 500trillion won. The return on retirement pensions was 6.5%, reaching a record high. The figures show simultaneous growth in asset levels and returns.
The previous day's market showed increased volatility as interest rates, exchange rates and stock prices moved at the same time. Returns varied across investment products. Market participants are watching future interest rate trends and foreign exchange movements.