KOSPI Falls as US Treasury Yields Top 5%

Korean stocks closed lower on Tuesday as renewed concerns over rising U.S. Treasury yields and crude oil prices outweighed bargain-hunting in semiconductor shares.

The benchmark KOSPI fell 0.85% to close at 6,627.26 after turning lower in the afternoon.

Foreign investors extended their selling streak to a fifth session, unloading a net 1.57 trillion won worth of shares, while institutional investors sold 904.4 billion won.

In contrast, retail investors bought a net 832.4 billion won worth of shares.