South Korean shares post first weekly decline in six; won dips to 6-month low

South Korean shares closed lower on Friday, posting their first weekly decline in six, as they tracked losses on Wall Street and were pressured by concerns over lofty valuations in AI-related sectors.
The won weakened to a six-month low against the dollar, while the benchmark bond yield rose.
The benchmark KOSPI was down 72.69 points, or 1.81%, at 3,953.76.
Among index heavyweights, chipmaker Samsung Electronics fell 1.31%, while peer SK Hynix lost 2.19%. Battery maker LG Energy Solution slid 1.38%.
Hyundai Motor and sister automaker Kia Corp were down 1.86% and 1.70%, respectively. Steelmaker POSCO Holdings shed nearly 2%.
Most technology stocks on Wall Street fell as concerns over stretched valuations persisted following a brief rebound on Wednesday. Earlier in the week, warnings from top Wall Street executives about a potential market pullback had triggered a sharp sell-off in shares tied to artificial intelligence.
Of the total 927 traded issues, 212 shares advanced, while 679 declined.
Foreigners were net sellers of shares worth 471.6 billion won.
The won was quoted at 1,456.9 per dollar on the onshore settlement platform, 0.52% lower than its previous close at 1,449.3.
In offshore trading, the won was quoted at 1,458.5 per dollar, down 0.7% on the day, while in non-deliverable forward trading its one-month contract (KRW1MNDFOR=) was quoted at 1,456.2.
The KOSPI has risen 64.78% so far this year.
The won has strengthened 1.1% against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds (KTBc1) lost 0.15 point to 105.86.
The most liquid three-year Korean treasury bond yield (KR3YT=RR) rose by 5.6 basis points to 2.898%, while the benchmark 10-year yield rose by 7.8 basis points to 3.235%.

Sumber : Reuters