The KOSPI index is experiencing weakness, hovering around the 6800 mark. The ongoing rise in U.S. long-term Treasury yields has pressured the market, with foreign investors selling off more than 1.4 trillion won, contributing to the decline. However, stocks like Samsung Electronics and Samsung Electro-Mechanics, along with some semiconductor equipment shares, are showing strength, helping to support the index.
As of 12:50 p.m. on September 29, the KOSPI was down 46.03 points (0.67%) at 6843.71, having dipped to a low of 6822.36 during the session before recovering slightly.
In the securities market, foreign investors have net sold 1.4433 trillion won. While institutions have also sold off 320 billion won, individual investors are net buying 713.4 billion won. Program trading is showing a sell bias of 1.123 trillion won.
Most of the top market capitalization stocks are trending downward. SK Hynix is down 0.45%, LG Energy Solution has dropped 3.30%, Hyundai Motor is down 1.97%, Samsung Biologics has fallen 2.07%, KB Financial is down 0.69%, and Samsung Life is down 3.04%. In contrast, Samsung Electronics is trading up 0.74% at 272,000 won, and Samsung Electro-Mechanics is up 0.53%.
The KOSDAQ index has recorded a decline of 3.05 points (0.36%), standing at 843.53. Foreign and institutional investors have net sold 111 billion won and 99.6 billion won, respectively, while individuals have net bought 239.6 billion won.
In the KOSDAQ, semiconductor equipment stocks are showing relatively strong performance. IOTech has risen 4.16%, JUSUNG Engineering is up 3.59%, and Wonik IPS has increased by 3.49%. Additionally, Rino Technology and Simtech are also seeing gains of 2.25% and 1.43%, respectively. Conversely, secondary battery stocks like EcoPro BM and EcoPro are experiencing declines of 5.12% and 3.91%.
The domestic stock market continues to face pressure from rising U.S. long-term interest rates. The yield on the U.S. 10-year Treasury note reached 5.24%, the highest level since 2007. The increase in international oil prices due to tensions between the U.S. and Iran has raised inflation concerns, further pressuring investor sentiment amid the possibility of additional tightening by the Federal Reserve.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The U.S. and Iran continue to have differing positions regarding the nuclear program and the reopening of the Strait of Hormuz, with mediators from Qatar and Pakistan working to facilitate negotiations. It remains uncertain whether Iran will engage in negotiations regarding its nuclear program."
He added, "Federal Reserve Governor Lisa Cook mentioned that improvements in AI productivity could lead to gradual disinflation effects in the coming years. However, in the short term, rising oil prices due to Middle Eastern conflicts and supply chain disruptions could increase price pressures. Future interest rate adjustments will also need to consider inflation and labor market indicators."
Meanwhile, following the U.S.-China summit, both countries have announced a list of tariff reductions worth $30 billion, indicating a potential easing of trade tensions, which could support the stock market. Reports that Chinese authorities are considering allowing domestic companies to purchase NVIDIA's new chips are also influencing semiconductor investment sentiment.
* This article has been translated by AI.
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