KOSPI and KOSDAQ Down More Than 1%...The won-dollar exchange rate soars against the U.S. dollar.

The KOSPI and KOSDAQ indexes are falling more than 1% due to net selling by foreigners and institutions.

The KOSPI started with a 0.3% drop as expectations for a U.S. rate cut were reduced due to strong U.S. employment indicators, increasing its decline by more than 1%.

The KOSDAQ index also started 0.54% lower amid net selling by foreigners and institutions, but the decline is growing by more than 1%.

On the Seoul foreign exchange market, the won-dollar exchange rate started at 1,473.2 won and was trading in the early 1,470 won range, up 8.2 won on rising U.S. Treasury yields.