South Korean stocks closed sharply lower on June 5 as investors locked in profits from recent tech gains amid uncertainty over U.S.-Iran peace negotiations.
The benchmark KOSPI lost 478.82 points, or 5.54 percent, to close at 8,160.59 after triggering a sidecar when the KOSPI 200 Futures fell more than 5 percent. Samsung Electronics fell 6.4 percent to 329,000 won while SK Hynix plunged 9.92 percent to 2,070,000 won. KB Financial rose 4.51 percent and Shinhan Financial gained 7.39 percent. The won closed at 1,539.1 won per dollar, down 9.4 won from the prior session. The three-year Treasury yield rose 2.4 basis points to 3.882 percent.
