Post #5754

🇰🇷KOSPI Drops 6.5% as Hormuz Tensions Mount South Korea's benchmark stock index fell 375.45 points, or 6.49 percent, to 5,405.75 on March 23, its sixth sell-side sidecar trigger of the year. Foreign and institutional investors sold a combined net 7.5 trillion won worth of equities, while retail investors absorbed a net 7 trillion won. The selling was concentrated in large-cap chips, defense, and finance shares, driven by high oil prices, uncertainty over US Federal Reserve rate policy, and the standoff over the Strait of Hormuz. Samsung Electronics lost 6.57 percent, SK Hynix fell 7.35 percent, and KB Financial declined 6.38 percent. The Korean won fell to 1,517.3 against the US dollar, its weakest level since March 2009. Three-year Treasury yields rose 20.7 basis points to 3.617 percent, and five-year government bond yields added 21.6 basis points to 3.837 percent. #SouthKorea @asianomics