Shares Fall in Asia, with Kospi Down 5.2%, While Oil Prices Jump
Oil prices and higher bond yields pressured Asian markets as investors sold AI-related shares, with South Korea’s Kospi falling 5.2%.
- South Korea's Kospi led a regional retreat on Wednesday, dropping 5.2% to 6,515.97 as artificial-intelligence stocks resumed their decline across Asia.
- Rising oil prices are clouding market sentiment amid uncertainty about whether the United States and Iran can secure oil tanker access through the Persian Gulf; Brent crude surged 0.9% to $91.83 per barrel.
- Wall Street pulled further from its all-time high on Tuesday as the Nasdaq sank 1.3%, with AI-related stocks leading the decline and Micron Technology dropping 7%.
- Bond yields remain elevated, with the 10-year Treasury yield at 4.70%, pushing long-term mortgage rates near their highest level in a year and hurting the housing industry.
- In currency markets early Wednesday, the U.S. dollar fell to 159.37 Japanese yen while the euro rose to $1.1582, reflecting investor navigation of ongoing global market volatility.
29 Articles
29 Articles
Shares fall in Asia, with Kospi down 5.2%; oil prices jump
Bangkok, Aug 19: Shares slipped Wednesday in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline. South Korea's Kospi led the regional retreat, dropping 5.2 per cent to 6,515.97. The two biggest companies benefiting from the AI boom tracked losses for their US rivals. Samsung Electronics shed 6.9 per cent, while memory chipmaker SK Hynix tumbled 7.9 per cent. In Tokyo, the Nikkei 2…
Associated Press News
Shares fall in Asia, with Kospi down 5.2%, while oil prices jump
Shares are sharply lower in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline.
(Seoul = Yonhap News) Reporter Lim Eun-jin = On the 18th, the KOSPI reversed course during trading and fell below the 7,000 mark again.
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