Tracking global cues, the South Korean stock market is trading weak on Wednesday with stocks from technology and banking sectors leading the fall. The overnight fall on Wall Street amid concerns over the state of the financial health of European banks, and the resultant weakness in the Asian region appear to be weighing on sentiment to a notable extent.
The benchmark KOSPI index is down 15.8 points or 0.9% at 1,772. On Tuesday, the index added 4.7 points or 0.26% to finish at 1,787.7 after trading between 1,786.4 and 1,796.5.
Among bank stocks, Korea Exchange Bank is down 2.3%, Shinhan Financial is trading lower by 2%, KB Financial is down with a loss of 1.6% and Woori Finance is down 1.5% from its previous closing price.
In the technology space, Hynix Semiconductor is down 4% and LG Electronics is losing about 3%, while Samsung Electronics and LG Display LCD are trading lower by 1.5% and 0.8% respectively.
Among shipping stocks, Hyundai Heavy Industries and STX Pan Ocean are down with modest losses, while Daewoo Shipbuilding and Samsung Heavy Industries are up marginally.
Automobile stocks Kia Motor and Hyundai Motor are up 2.2% and 2% respectively. Ssangyong Motor is down with a loss of 1.2%.
Among oil stocks, SK Holdings is down 1% and S-Oil is trading modestly higher. KEPCO is up 1.3%. Steel stocks Hyundai Steel and POSCO are down 0.8% and 1.2% respectively. Airlines stocks are trading weak, while telecommunications stocks are exhibiting a mixed trend.
Among other markets in the Asia-Pacific region, Australia, Shanghai, Hong Kong, Japan and Singapore are down with notable losses. Malaysia, New Zealand and Taiwan are also trading weak. Markets across the region turned in a mixed performance on Tuesday.
On Wall Street, stocks fell by sharp margins to open the Labor Day-shortened week on Tuesday, as profit taking following last week's gains drove the major averages down off of their best closing levels in three weeks.
The major averages saw some late-day volatility, ending near their session lows. The Dow ended down 107.2 points or 1% at 10,340.7, the Nasdaq declined by 24.9 points or 1.1% to 2,208.9 and the S&P 500 drifted down by 12.7 points or 1.1% to 1,091.8.
Major European markets ended lower on Tuesday. The French CAC 40 index slid by 1.1%, while the German DAX index and the U.K.'s FTSE 100 index both lost 0.6%.
Crude oil prices declined on Tuesday amid a recovery in the dollar, but trimmed losses after reports of an explosion at a major refinery operated by Mexican oil giant Pemex sparked expectations of improved import demand for oil products from the nation.
Light, sweet crude for October delivery settled down US$0.51 at US$74.09 a barrel on the New York Mercantile Exchange, after trading as low as US$72.63.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.