EN Home › Market Briefing · published Sep 29, 2026 morning (KST) · prices as of 2026-09-28 close한국어

US 10Y 5.24%, KOSPI 200 down 3.27%: Sep 29 Korea market briefing

Yesterday the US 10-year Treasury yield rose 7.0bp to 5.240% and the KOSPI 200 fell 3.27%, so higher yields and weaker stocks showed up together. USD/KRW fell 0.88% to 1,357.0 won per dollar, which means the won strengthened, while the Korea 3-year yield jumped 11.3bp. Today, one thing to check is how news of indirect US-Iran talks over the Strait of Hormuz feeds into oil prices and yields.

Yesterday's closes

Indicator	Close	Change	%
USD/KRW09-25	1,357.0	-12.0	-0.88%
Dollar Index09-28	101.25	+0.23	+0.22%
USD/JPY09-28	157.54	+0.27	+0.17%
US 10Y Yield09-28	5.240%	+7.0bp	-
Korea 3Y Yield09-28	4.119%	+11.3bp	-
KOSPI 20009-28	1,089.28	-36.84	-3.27%
Nasdaq 10009-28	30,276.81	-331.32	-1.08%
Nikkei 22509-28	65,877.62	-486.58	-0.73%
Hang Seng09-28	24,642.51	+132.42	+0.54%
DAX09-28	25,374.42	-34.22	-0.13%
WTI Crude09-25	92.41	-2.20	-2.33%
Gold09-25	4,321.20	+23.20	+0.54%
Bitcoin09-29	83,172	-1,266	-1.50%

The date next to each indicator is the trading day of that close. Bitcoin is the spot price at publication (7am KST). Yield changes are in bp (0.01 pp).

FX & Rates

USD/KRW fell 12.0 won (0.88%) to 1,357.0 won per dollar from 1,369.0 the previous session. That is 6.78% below its 100-day average of 1,455.7 won, so the won's strengthening trend is continuing. However, the Dollar Index rose 0.22% to 101.25 and USD/JPY gained 0.17% to 157.54 yen per dollar. It is worth checking whether the won's strength came more from Korea-specific factors than from a weaker dollar. In rates, the US 10-year Treasury yield rose 7.0bp to 5.240% and the Korea 3-year yield climbed 11.3bp to 4.119%, so yields went up in both countries. Both are above their 100-day averages, which stand at 4.641% for the US 10-year and 3.810% for the Korea 3-year.

Equities

The KOSPI 200 fell 36.84 points (3.27%) to 1,089.28, the largest decline in yesterday's market table. It now sits 5.99% below its 100-day average of 1,158.72. The drop came on the same day the Korea 3-year yield rose 11.3bp, and that combination is worth examining. The Nasdaq 100 fell 1.08% to 30,276.81 but remains 2.86% above its 100-day average. Asian markets went in different directions: the Nikkei 225 slipped 0.73% to 65,877.62, while the Hang Seng rose 0.54% to 24,642.51. Germany's DAX edged down 0.13% to 25,374.42, so European moves were relatively small.

Commodities & Crypto

WTI crude fell 2.20 dollars (2.33%) to 92.41 dollars per barrel. It is still 6.75% above its 100-day average of 86.57 dollars, so oil prices remain at a high level. Gold rose 0.54% to 4,321.20 dollars per ounce, 0.69% below its 100-day average of 4,351.06 dollars. As of 07:00 KST, Bitcoin was at 83,172 dollars, down 1,266 dollars (1.50%) from the previous close of 84,437 dollars. Gold rose while oil fell, and the mood around Middle East negotiations is one background factor to consider alongside that move.

News and Markets

President Trump rejected Iran's proposal to reopen passage through the Strait of Hormuz and then signaled indirect talks this week. That news can be read alongside the 2.33% drop in WTI crude. The open question is which force wins out. The prospect of talks could partly ease worries about supply disruptions. Alternatively, military tension, such as Iran's Revolutionary Guard claiming it seized a US unmanned submarine, could push oil prices back up. Great-power friction around the UN General Assembly and China's joint drills in the South China Sea are background factors that could affect risk appetite, but they do not line up with the Hang Seng's 0.54% gain yesterday. The diplomatic dispute between Korea and Ukraine, sparked by the public disclosure of North Korean prisoner-of-war repatriations, has no clear causal link to the KOSPI 200's 3.27% decline. It is better to follow how that story develops than to tie it directly to prices. Weather disasters, including the typhoon in Japan, flooding in Bangkok and a nor'easter in the US Northeast, could affect logistics and insurance costs, but it will take time before those effects show up in the numbers.

What to Watch Today

First, watch whether the US 10-year Treasury yield rises further from 5.240%. After the Korea 3-year yield climbed 11.3bp in a single day, it is also worth seeing whether Korean yields keep following. Second, check whether USD/KRW keeps falling from 1,357.0 or starts moving in line with the Dollar Index's rise to 101.25. Third, a key variable is how this week's planned indirect US-Iran talks feed into WTI crude at around 92.41 dollars. Fourth, with the KOSPI 200 5.99% below its 100-day average of 1,158.72, watch whether the performance gap with the Nasdaq 100 narrows. This briefing summarizes market data and news and is not investment advice.

Yesterday's key world news

Trump Rejects Iran's Offer to Reopen Hormuz as Military Tensions Persist Ahead of Indirect Talks This Week· Geopolitics
Trump rejected Iran's proposal to reopen the Strait of Hormuz and resume nuclear talks within 7 days in exchange for lifting the naval blockade and unfreezing assets. He expects indirect talks through mediators this week but says renewed strikes are 'always under consideration,' a standoff with direct consequences for oil prices, inflation and the November US midterms.
Diplomatic Clashes at 81st UN General Assembly: China's Four Proposals, Russia Pushes Back on Security Council Reform, First German-Russian Talks· Geopolitics
Chinese Vice President Han Zheng offered four proposals centered on development and multilateralism and rejected bloc confrontation. Russian FM Lavrov branded Japan and Germany 'militarist and revisionist' and opposed giving them permanent Security Council seats. In the first German-Russian foreign ministers' meeting since the full-scale invasion of Ukraine, he also said Russia had no intention of going to war with Europe.
Row Over Disclosure of North Korean POWs' Transfer to South Korea; Seoul Demands Explanation and Apology from Ukraine· Geopolitics
Ukraine revealed that 2 North Korean prisoners of war had been sent to South Korea and claimed there was no confidential agreement. The presidential office in Seoul called the statement false, expressed strong regret, demanded an official explanation and apology, and said it was considering further steps, turning a sensitive security issue into a diplomatic dispute.
China Holds Joint Air-Sea Drills Near Scarborough Shoal While Signaling a Thaw with the US Through Panda Diplomacy and Reciprocal Summit Visits· Geopolitics
The PLA Southern Theater Command held joint air-sea drills around Scarborough Shoal, saying Philippine vessels had breached a control line. At the same time, Beijing aired a prime-time documentary on Xi's first US state visit in 11 years and loaned 2 pandas to Atlanta, pairing détente with Washington with a hard line in the South China Sea.
Extreme Weather Hits Asia and US East Coast: 13 Dead in Japan Typhoon, Bangkok Floods, US Nor'easter· Society
The death toll from Typhoon No. 25 in Japan's Kanto region rose to 13 as Typhoon No. 26 approached. In Bangkok, over 300mm of rain flooded some 50,000 households and killed at least 8, with 1 person, believed to be South Korean, missing. An unusual early-autumn nor'easter in the US Northeast killed 1 and forced over 2,000 flight cancellations.

Full country-by-country summaries for Sep 28, 2026 (Korean) →

USD/KRW exchange rateUS 10-year Treasury yieldKorea 3-year yieldKOSPI 200Nasdaq 100WTI crude oil priceBitcoin priceStrait of Hormuz

This briefing is an automated summary of public market data and news-broadcast summaries from several countries, for information only — not investment advice. Figures follow the table's source data; markets may have moved since publication.