The domestic stock market closed mixed due to geopolitical tensions in the Middle East and rising U.S. Treasury yields. The KOSPI fell under pressure from significant foreign selling but managed to hold above the 7000 mark. The KOSDAQ recovered from early losses and regained the 830 level.
On September 10, the Korea Exchange reported that the KOSPI finished at 7033.92, down 17.72 points (0.25%) from the previous trading day. The index opened at 7038.85, down 12.79 points (0.18%), and dipped near the 7000 mark during the session but partially recovered to maintain that level.
By investor type, individuals and institutions recorded net purchases of 959.9 billion won and 111.5 billion won, respectively. In contrast, foreign investors led the decline with net sales of 2.7226 trillion won.
Among the top market capitalization stocks, performances were mixed. Samsung Electronics (-0.19%), SK Hynix (-0.16%), SK Square (-0.26%), Samsung Electro-Mechanics (-0.28%), LG Energy Solution (-1.62%), and Samsung Biologics (-2.00%) all declined. Conversely, Hyundai Motor (0.26%), Samsung Life Insurance (1.98%), Samsung C&T (0.93%), and KB Financial (0.81%) closed higher.
The KOSDAQ index turned upward, closing at 836.92, up 6.55 points (0.79%). It started at 825.06, down 5.31 points (0.64%), but reversed course after reducing its losses.
In the KOSDAQ market, institutions were the sole net buyers, purchasing 1.3504 trillion won, which contributed to the index's rise. Meanwhile, individuals and foreigners recorded net sales of 230.3 billion won and 1.1121 trillion won, respectively.
Among the top KOSDAQ stocks, Alteogen (-0.89%), Wonik IPS (-1.08%), Iot Tech (-3.19%), and Rino Technology (-1.14%) fell. In contrast, EcoPro (0.12%), EcoPro BM (3.31%), JUSUNG Engineering (7.02%), Rainbow Robotics (0.79%), Simtech (0.98%), and Roboteers (4.35%) saw gains.
Earlier, on September 9, the Dow Jones Industrial Average fell 0.77% on the New York Stock Exchange, while the S&P 500 and Nasdaq Composite dropped 0.48% and 0.64%, respectively.
The heightened tensions in the Middle East have led to increased risk aversion. The U.S. Central Command (CENTCOM) reported the destruction of five Iranian oil tankers, while Iran claimed to have retaliated by attacking a U.S. military base in Jordan with ballistic missiles.
International oil prices surged, with November futures for Brent crude rising by $3.29 (3.36%) to close at $101.21 per barrel. This marks the first time Brent crude has closed above $100 since July 23.
The rise in oil prices has reignited inflation concerns, increasing scrutiny of the U.S. Federal Reserve's monetary policy. U.S. Treasury yields also rose, with the 10-year Treasury yield surpassing 4.85%, reaching its highest level since November 2023.
In contrast, semiconductor stocks continued to perform well. The Philadelphia Semiconductor Index rose 0.37%, marking its fifth consecutive day of gains, while SK Hynix's American Depositary Receipts (ADRs) surged by 7.05%.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The domestic stock market started lower due to external risks but confirmed a bottom around the 6900 level before rebounding. The simultaneous expiration of futures and options, along with regular changes in sector indices, may have increased short-term supply and demand volatility."
* This article has been translated by AI.
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