Seoul shares end lower on tech losses amid rising bond yields

What happened: Seoul shares closed lower, led by technology stock declines, as investors weighed rising bond yields at multidecade highs. The Korean won rose against the U.S. dollar. Key numbers: KOSPI fell 62.35 points, or 0.89 percent, to 6,941.39. Foreigners sold a net 1.75 trillion won (US$1.3 billion); institutions sold a net 1.98 billion won; individuals bought a net 740.56 billion won. Why it matters: Investors now await third-quarter corporate earnings, with higher interest rates, elevated energy costs and renewed inflation worries pushing up global bond yields.

Seoul shares closed lower, led by technology stock declines, as investors weighed rising bond yields at multidecade highs. The Korean won rose against the U.S. dollar.

Investors now await third-quarter corporate earnings, with higher interest rates, elevated energy costs and renewed inflation worries pushing up global bond yields.