EN Home › Market Briefing · published Oct 23, 2026 morning (KST) · prices as of 2026-10-22 close한국어

US 10Y lower at 4.96%: Oct 23 Korea market briefing

Yesterday the US 10-year Treasury yield fell 17.0bp in a single day to 4.960%, while Asian and US stocks both fell sharply. The KOSPI 200 closed down 3.71% at 858.02, and the Nasdaq 100 closed down 2.90% at 28,958.69. The variable to watch today is whether the falling yields and weakness in risk assets continue.

Yesterday's closes

Indicator	Close	Change	%
USD/KRW10-21	1,326.0	0.0	0.00%
Dollar Index10-22	101.83	+0.07	+0.07%
USD/JPY10-22	157.21	-0.88	-0.56%
US 10Y Yield10-22	4.960%	-17.0bp	-
Korea 3Y Yield10-22	3.817%	-0.5bp	-
KOSPI 20010-22	858.02	-33.02	-3.71%
Nasdaq 10010-22	28,958.69	-863.83	-2.90%
Nikkei 22510-22	62,907.84	-1,713.40	-2.65%
Hang Seng10-22	22,934.68	-717.19	-3.03%
DAX10-22	25,371.75	-273.29	-1.07%
WTI Crude10-21	97.15	-0.67	-0.68%
Gold10-21	4,150.00	+7.40	+0.18%
Bitcoin10-23	81,431	-2,627	-3.13%

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

The US 10-year Treasury yield fell 17.0bp from 5.130% to 4.960%, but it is still above its 100-day average of 4.760%. The Korea 3-year yield fell 0.5bp to 3.817%, below its 100-day average of 3.852%. USD/KRW was 1,326.0 won per dollar as of the October 21 close. That was unchanged from the previous day and 7.15% below its 100-day average of 1,428.1. The Dollar Index rose 0.07% to 101.83. By contrast, USD/JPY fell 0.56% to 157.21 yen per dollar, which means the yen strengthened against the dollar.

Equities

All major indices fell. The KOSPI 200 dropped 33.02 points (3.71%) to 858.02, which is 24.04% below its 100-day average of 1,129.57. The Hang Seng closed down 3.03% at 22,934.68, and the Nikkei 225 closed down 2.65% at 62,907.84, so Asian markets were weak across the board. The Nasdaq 100 fell 2.90% to 28,958.69, and Germany's DAX fell 1.07% to 25,371.75. By region, Asian indices and the US tech index fell further than Europe.

Commodities & Crypto

WTI crude fell 0.68% to 97.15 dollars as of the October 21 close, but it remains 13.21% above its 100-day average of 85.81 dollars. Gold rose 0.18% as of the same date to 4,150.00 dollars, 2.88% below its 100-day average of 4,272.90 dollars. Bitcoin was at 81,431 dollars as of 7:00 a.m. KST, down 3.13% from the previous day's 84,058 dollars, moving lower along with stocks. Note that the WTI crude and gold prices are closes from one day earlier than those of the other assets.

News and Markets

The US sanctioned Chinese AI companies over alleged theft of trade secrets, and China signaled it would retaliate. US-China tensions are now spreading beyond semiconductors to the wider AI ecosystem. The Nasdaq 100 and the Hang Seng both fell sharply on the same day, but the news provided is not enough to confirm a direct causal link between the two. The war in the Middle East pushed European gas prices sharply higher and added to worries about energy inflation this winter. This is worth considering alongside WTI crude prices, which remain high. The spreading riots in France and the agreement to resume US-Russia peace talks are cited as sources of political and security uncertainty in Europe, and the DAX fell 1.07% yesterday. A PHP security vulnerability led European government agencies and Japanese financial firms to suspend web services, but the input data do not show any effect on specific asset prices.

What to Watch Today

First, check whether the US 10-year Treasury yield moves further from 4.960%, and whether this drop reflects a shift toward safe-haven assets alongside weaker stocks. The latest USD/KRW figure is the October 21 close of 1,326.0 won per dollar, so the updated rate after yesterday's sharp fall in Asian stocks needs to be checked. Other variables to watch are whether the KOSPI 200 recovers some of its losses from 858.02 and whether other indices such as the Nasdaq 100 and the Hang Seng move in the same direction. Also worth watching are the specific countermeasures China takes over the US AI sanctions, and whether European gas prices affect WTI crude. North Korea's announcement that it will resume loudspeaker broadcasts toward the South is a domestic geopolitical variable worth noting.

Yesterday's key world news

US, Russia and Ukraine agree to resume three-way peace talks· Geopolitics
Special envoy Witkoff met Putin and agreed to resume three-way peace talks. Putin was keen to restart talks in mid-November and restore US-Russia economic cooperation. With Ukraine under pressure to make concessions, Europe's security landscape could be shaken.
Critical PHP vulnerability found, putting web services worldwide on alert· Tech & Industry
A critical security flaw was found in PHP, which more than 70% of websites use. European government agencies and Japanese financial firms suspended web services one after another. AI is speeding up the creation of attack code, raising fears of large-scale ransomware damage.
European gas prices hit 4-year high as Middle East war takes its toll· Economy & Markets
The Middle East war pushed European natural gas prices to a four-year high, with the Dutch TTF price going from 32 euros before the war to above 90 euros. Worried about energy inflation this winter, countries are responding with higher output and subsidies.
Cost-of-living riots spread in France, curfews imposed in major cities· Politics
Riots sparked by the rising cost of living spread, and curfews were imposed in major French cities, with at least 2,400 arrests nationwide in a single day. Political instability in the eurozone's second-largest economy could become a risk for European markets.
US-China digital cold war over AI intensifies· Tech & Industry
The US sanctioned five Chinese AI companies over alleged trade secret theft and told federal agencies to remove DeepSeek, and China signaled it would retaliate. The conflict is spreading beyond semiconductors to the wider AI ecosystem.

Full country-by-country summaries for Oct 22, 2026 (Korean) →

US 10-year Treasury yieldUSD/KRW exchange rateKOSPI 200Nasdaq 100Hang Seng indexBitcoin priceWTI crude oil priceUS-China AI sanctions

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.