The KOSPI index closed down by 1.76% amid rising international oil prices and U.S. long-term interest rates. After an initial drop of more than 3%, the index managed to reduce its losses.
On September 11, the KOSPI finished at 6,909.91, down 124.01 points from the previous trading day. The index opened at 6,802.50, a decline of 231.42 points (3.29%), fluctuating around the 6,800 mark before narrowing its losses.
In the securities market, individual investors made a net purchase of 2.4177 trillion won, while foreign and institutional investors sold a net 2.4360 trillion won and 1.6476 trillion won, respectively.
Most of the top market capitalization stocks fell, including Samsung Electronics (-3.53%), SK Hynix (-2.21%), SK Square (-4.05%), LG Energy Solution (-1.37%), Hyundai Motor (-1.67%), Samsung Biologics (-0.56%), and Samsung Life (-0.65%). However, KB Financial rose by 2.60%.
The KOSDAQ index also closed lower, down 1.95% to 820.64. It opened at 816.91, down 20.01 points (2.39%) from the previous day.
In the KOSDAQ market, individual investors made a net purchase of 491 billion won, while foreign and institutional investors sold a net 363.3 billion won and 132.4 billion won, respectively.
All major stocks in the KOSDAQ fell, including Alteogen (-3.25%), EcoPro (-2.88%), EcoPro BM (-7.08%), JUSUNG Engineering (-5.43%), Rainbow Robotics (-2.90%), IO Tech (-2.09%), Wonik IPS (-7.15%), Rino Technology (-4.18%), and Simtech (-2.02%).
Lee Kyung-min, a researcher at Daishin Securities, stated, "The domestic stock market weakened due to the surge in international oil prices and U.S. Treasury yields. The market's risk appetite has diminished ahead of the U.S. Consumer Price Index (CPI) announcement, leading to increased caution among investors."
He added, "The heightened external uncertainties have resulted in a broad-based decline across sectors, particularly affecting growth stocks due to the surge in U.S. Treasury yields."
* This article has been translated by AI.
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