South Korea's KOSPI fell as much as 4.76% intraday, briefly breaking below
5,500. The sell-off was driven by rising US Treasury yields and a weak first-day
IPO showing from a data-center firm. As of press time, foreign investors had net
sold 636.7 bln won in the Korean securities market. Institutional investors net
sold 467.0 bln won, with financial investment firms net selling 241.8 bln won
and pension funds 159.0 bln won. Retail investors and other corporates net
bought 838.8 bln won and 261.6 bln won, respectively, which helped limit the
decline. Eugene Securities analyst Huh Jae-Hwan said the selling was
indiscriminate, with nearly all stocks down, and the market appearing very
fragile; battery makers that led Monday's rebound also retreated.
