The KOSPI index closed lower for the second consecutive day, finishing at the 6,870 level amid significant foreign selling. While Samsung Electronics saw a rebound, stocks like SK Hynix and battery manufacturers struggled. The KOSDAQ index, buoyed by strong semiconductor equipment stocks, managed to recover from earlier losses and close higher.
On September 29, the Korea Exchange reported that the KOSPI fell by 18.93 points (0.27%) to close at 6,870.81. The index reached a high of 6,898.36 during the day but experienced volatility, dropping to as low as 6,782.99 due to increased foreign selling.
In the securities market, foreign investors sold a net 2.903 trillion won, contributing to the index's decline. Meanwhile, individual and institutional investors bought a net 1.1432 trillion won and 121.1 billion won, respectively. Program trading recorded a net sell of 2.1092 trillion won.
Among the top market capitalization stocks, the performance was mixed. Samsung Electronics closed up 0.93% at 272,500 won. After starting the day weak, it rebounded due to buying interest. Samsung SDI rose 1.93% to 1,528,000 won, and SK Square increased by 1.64% to 1,118,000 won.
Conversely, SK Hynix ended down 0.17% at 1,765,000 won. Other decliners included LG Energy Solution (-3.16%), Samsung Life (-1.86%), Hyundai Motor (-1.27%), Samsung Biologics (-1.07%), and KB Financial (-0.40%).
The KOSDAQ index closed up 3.22 points (0.38%) at 849.80. After dipping to 833.62 during the day, it recovered all losses and finished near its intraday high.
In the KOSDAQ market, individual investors bought a net 148.6 billion won, while institutions showed a net buying advantage of 5.2 billion won, and foreign investors sold a net 129.1 billion won. Program trading recorded a net sell of 110.4 billion won.
Semiconductor equipment stocks led the KOSDAQ rebound. JUSUNG Engineering surged 6.22% to close at 222,000 won, while Wonik IPS and EO Technics rose by 5.76% each. Simtech (3.40%) and Rino Industrial (3.23%) also showed strong performance.
In contrast, battery stocks faced weakness. Ecopro fell 3.79% to 78,800 won, and Ecopro BM dropped 4.67% to 106,100 won. Rainbow Robotics also declined by 1.19%. HLB, which had surged to its upper limit the previous day following FDA approval news, closed up 1.13% at 40,150 won.
On this day, the domestic stock market faced pressure from rising U.S. Treasury yields and international oil prices, which contributed to increased intraday losses. The U.S. 10-year and 30-year Treasury yields rose to 5.26% and 5.57%, respectively. International oil prices also trended upward, limiting the preference for risk assets.
Lee Kyung-min, a researcher at Daishin Securities, stated, "The domestic stock market is under pressure from rising U.S. Treasury yields, while international oil prices are also on the rise, limiting the preference for risk assets. The U.S. 10-year and 30-year Treasury yields have risen to 5.26% and 5.57%, respectively, and comments from Federal Reserve Governor Lisa Cook regarding inflation have also contributed to upward pressure on rates."
He added, "The news of OpenAI's cancellation of its new model launch has further burdened AI investment sentiment, reigniting concerns about a slowdown in AI development. As a result, some semiconductor stocks like SK Hynix showed weakness, while semiconductor and IT hardware stocks with highlighted order momentum attracted differentiated buying interest."
The researcher noted, "Despite the overall investment sentiment being dampened by rising oil and interest rates, sectors with order momentum and defensive characteristics have shown relatively stable performance, while profit-taking in recently strong solar and nuclear power sectors has led to increased declines."
* This article has been translated by AI.
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