The KOSPI, which had risen for two consecutive days, is expected to open lower on September 2 due to the weak performance of U.S. stocks.
On September 1 (local time), fighting resumed between the U.S. and Iran, leading to declines across all three major U.S. stock indices on the New York Stock Exchange.
The Dow Jones Industrial Average fell by 0.79%, while the S&P 500 dropped by 0.71%. The Nasdaq Composite also decreased by 1.03%. Investor sentiment was dampened following additional U.S. airstrikes against Iran, which prompted retaliatory attacks from Iran.
International oil prices surged sharply, with November Brent crude futures rising 4.60% to $94.65 per barrel, and October West Texas Intermediate (WTI) crude increasing by 5.20% to $90.22.
The yield on U.S. 10-year Treasury bonds continued to rise, reaching around 4.79%, the highest level since January 2025. The Philadelphia Semiconductor Index fell by 2.10%, and SK Hynix's American Depositary Receipts (ADRs) dropped by 2.31%.
According to Seo Sang-young, a researcher at Mirae Asset Securities, "With President Donald Trump taking a hardline stance and news of Iran's missile launches, international oil prices surged over 5%, leading to increased inflationary pressures and a rise in bond yields, which further exacerbated the decline in the stock market."
The domestic stock market is also expected to open lower. As of 8:11 a.m. on this day, Samsung Electronics was trading at 253,000 won, down 3.07% (8,000 won) from the previous trading day, while SK Hynix fell 3.43% (58,000 won) to 1,635,000 won.
However, there is a possibility that buying interest may emerge during the trading session, potentially reducing losses. Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to open lower due to rising oil prices and interest rate pressures, as well as a 3% decline in KOSPI 200 night futures. However, we anticipate that the market will respond to factors such as the influx of bargain buying and the strong earnings surprise from Dell, which saw a 6% surge in after-hours trading due to robust AI server sales, thereby reducing the extent of the decline."
* This article has been translated by AI.
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