Kospi Falls as Oil Prices Weigh on South Korean Stocks

South Korean stocks slipped on Thursday despite a significant increase in exports, weighed down by high global oil prices and uncertainty over Middle East oil supplies. The Kospi benchmark index fell by 14.60 points or 0.21% to 6,823.44 as of 00:56 GMT.

The won weakened against the dollar, while government bond yields rose. Strong trade data showed South Korea's exports surged 83.5% year-on-year in September to a record $120.9 billion, driven mainly by semiconductor shipments which more than tripled amid increased global spending on artificial intelligence.

Investors remained cautious despite the positive export numbers due to elevated oil prices and uncertainty over Middle East oil supplies. Major stocks such as Samsung Electronics fell 0.19%, while SK Hynix gained 0.23%. LG Energy Solution was flat, and Hyundai Motor slipped 0.07%.

Market breadth remained weak, with 487 of the 905 traded issues declining compared to 354 that advanced. Foreign investors were net sellers of shares worth 494.4 billion won. The Kospi has gained 61.92% so far this year, while the won has strengthened 5.9% against the dollar over the same period.