Korea Macro Daily(Beta Mode)
KOSPI Dips, Won Weakens Amid Tensions
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| KOSPI | 6,244.13 | -1.00% |
| KOSDAQ | 1,192.78 | +0.39% |
| USD/KRW | 1,453.56 | +1.48% |
| Samsung | 216,500.00 | -0.69% |
| SK Hynix | 1,061,000.00 | -3.46% |
| Brent Crude | 77.83 | +7.38% |
| Gold | 5,337.90 | +2.05% |
| Bitcoin | 69,497.66 | +5.72% |
| Korea Short-term Rate | 2.53% | +0.04% |
| Korea Long-term Rate | 3.48% | +3.54% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| S&P Global Manufacturing PMI Index | 51.20 | - | 14:30 |
| Thursday (2026-03-05) | |||
| Inflation Rate Year-over-Year | 2 | 2.10 | 13:00 |
- KOSPI fell 1% to 6,244.13 on global volatility, while KOSDAQ rose 0.39% to 1,192.78 on tech gains.
- USD/KRW climbed 1.48% to 1,453.56, aiding exporters, but Samsung and SK Hynix dropped 0.69% and 3.46% respectively.
- Bond yields rose, with short-term at 2.53% (+0.04%) and long-term at 3.48% (+3.54%), amid inflation concerns.
Yesterday's Recap
South Korean markets displayed mixed results on March 1, with the KOSPI closing at 6,244.13 after a 1% decline, pressured by profit-taking in semiconductors as global yields rose. KOSDAQ countered the trend, gaining 0.39% to 1,192.78, bolstered by advances in biotech and IT small-caps. The won weakened notably, with USD/KRW rising 1.48% to 1,453.56, driven by foreign outflows amid Middle East geopolitical tensions that lifted oil prices.
Samsung Electronics slipped 0.69% to 216,500.00, and SK Hynix fell 3.46% to 1,061,000.00, due to worries over slowing memory chip demand. Bond markets firmed, with the short-term rate increasing 0.04% to 2.53% and the long-term rate jumping 3.54% to 3.48%, as traders factored in ongoing inflation. Brent crude surged 7.38% to 77.83, adding to external pressures.
No major data releases took place, so markets responded mainly to international developments like rising oil costs, which could benefit Korean shipbuilders but weighed on overall sentiment. Despite the won's depreciation typically supporting exporters, broader risk aversion dominated, curbing equity gains.
The Day Ahead
The highlight today is the S&P Global Manufacturing PMI at 14:30 ET, with a prior reading of 51.2 indicating expansion; a lower figure might amplify fears of export weakening. This could affect outlooks for semiconductor giants like Samsung and SK Hynix. No events are set for tomorrow, March 3.
On Thursday, March 5, the year-over-year inflation rate releases at 13:00 ET, with consensus at 2.1% versus the previous 2%; a higher print might solidify expectations of steady BoK policy, influencing the won and yields. Geopolitical updates, including Middle East conflicts, may also drive volatility in energy-sensitive sectors.
Other Economic Notes
South Korea's fertility rate has risen slightly from its 2023 low of 0.72, potentially easing long-term demographic strains, though immediate impacts on consumption or workforce growth remain limited. This shift, driven by policy nudges, contrasts with ongoing challenges like low birth rates in peers such as Singapore. (cont...)
