Global Long-Term Yield Surge Sends KOSPI on a Wild Ride

The KOSPI index and share prices of SK hynix and Samsung Electronics are displayed on a screen at Hana Bank's dealing room in Jung-gu, Seoul, on Aug. 20. Surging long-term government bond yields in major economies have put pressure on South Korean stocks, with the KOSPI swinging sharply from a steep selloff to a strong rebound within a day. Rising U.S. fiscal deficits and Treasury issuance, heavy…