07.08.202601:43:52UTC+00South Korean Shares Extend Decline

The benchmark KOSPI dropped more than 1% to around 6,200 on Friday, extending its decline for a second consecutive session as investors awaited the release of US employment data. Market participants were focused on the closely watched nonfarm payrolls report for fresh signals on the Federal Reserve’s policy trajectory, remaining cautious about the interest rate outlook while also digesting the latest batch of US corporate earnings.

Adding to the cautious mood, renewed geopolitical uncertainty in the Strait of Hormuz drove oil prices higher, heightening inflation concerns and further dampening risk appetite. Technology shares led the market lower, with SK hynix shedding nearly 3%. Other notable decliners included SK Square (-2.0%), Hyundai Motor (-1.6%), HD Hyundai Heavy Industries (-1.5%), and Hyundai Mobis (-2.5%).

On the upside, strong earnings from Naver and optimism surrounding AI-related initiatives—particularly planned partnership talks between LG Group and Nvidia—helped limit broader market losses.