South Korean shares set for worst quarterly fall since early 2020

South Korean shares traded lower and were heading for their biggest quarterly drop in over six years, according to Business Recorder. The benchmark KOSPI fell after rising earlier in the session, ending the day slightly down.

The index has fallen 19% this quarter, marking its worst performance since the first quarter of 2020. The decline follows six consecutive quarters of gains.

High bond yields and concerns over inflation contributed to the market's weakness. South Korea's finance minister said authorities were monitoring bond markets and would take measures if yields rose excessively.

Factory output unexpectedly fell in August. Among major stocks, Samsung Electronics declined while SK Hynix and LG Energy Solution gained.