The KOSPI opened higher on September 8, recovering above the 7000 mark during trading. This is the first time the index has surpassed 7000 since August 18. Following a sharp rise the previous day, Samsung Electronics and SK Hynix entered a period of stabilization, while secondary battery stocks and some semiconductor materials showed strength.
As of 9:05 a.m., the KOSPI was up 26.97 points (0.39%) at 7022.36, having briefly reached 7047.91 during the session.
In the securities market, individual investors have net purchased 59.4 billion won, while foreign and institutional investors have net sold 71.5 billion won and 5.7 billion won, respectively.
Among the top market capitalization stocks, Samsung Electronics remained steady at 270,000 won, and SK Hynix also held at 1,783,000 won. LG Energy Solution (up 1.24%), Samsung Biologics (up 0.48%), and KB Financial (up 1.65%) saw gains, while Samsung Electro-Mechanics (down 1.79%), SK Square (down 0.62%), and Hyundai Motor (down 0.38%) faced declines.
The KOSDAQ index rose by 6.01 points (0.73%) to 828.20. Individual investors net purchased 13 billion won, while foreign and institutional investors net sold 500 million won and 11.5 billion won, respectively.
In the KOSDAQ's top market capitalization stocks, JUSUNG Engineering increased by 4.43%. Other gainers included HPSP (up 3.56%), EcoPro (up 3.03%), IOTech (up 2.74%), EcoPro BM (up 2.72%), Simtec (up 2.59%), Rino Industry (up 2.49%), and Wonik IPS (up 2.21%).
Meanwhile, U.S. markets were closed for Labor Day. European markets showed mixed results ahead of the European Central Bank's (ECB) monetary policy meeting, influenced by rising international oil prices and government bond yields. The German DAX and the UK FTSE 100 fell by 0.15% and 0.08%, respectively, while the French CAC 40 and Euro Stoxx 50 rose by 0.33% and 0.17%.
International oil prices increased amid ongoing military tensions between the U.S. and Iran, with Brent crude briefly surpassing $98 per barrel. Factors contributing to the rise included reduced shipping through the Strait of Hormuz and the OPEC Plus's decision to maintain existing policies.
Seo Sang-young, a researcher at Mirae Asset Securities, stated, "European government bond yields have risen as expectations for ECB interest rate hikes have intensified, particularly following the strong performance of far-right parties in Germany's regional elections, highlighting concerns over fiscal deficits. We believe that the ECB's influence and political issues will continue to impact the market in the second half of the year."
He added, "The dollar weakened against other currencies due to the strength of the yen, which has been bolstered by expectations of a faster pace of interest rate hikes by the Bank of Japan and the emergence of new government policies in Japan."
* This article has been translated by AI.
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