▲ The KOSPI and KOSDAQ indexes are displayed on the electronic board at the dealing room of Hana Bank in Jung-gu, Seoul, on the 11th. On this day, the KOSPI closed down 124.01 points (1.76%) at 6,909.91, while the KOSDAQ index closed down 16.28 points (1.95%) at 820.64.
Weighed down by a sharp surge in international oil prices and interest rates, the KOSPI dropped more than 1.7% today (the 11th), falling below the 7,000 threshold on a closing basis for the first time in three trading days.
According to the Korea Exchange, the KOSPI finished the session down 124.01 points (1.76%) at 6,909.91 compared to the previous trading day.
The index started at 6,802.50, down 231.42 points (3.29%) from the prior session. While it managed to narrow its losses later, bolstered by net buying from retail investors and other corporations, it failed to recover the 7,000 mark.
In the KOSPI market, retail investors net-purchased 1.8658 trillion won, whereas foreign investors and institutional investors net-sold 2.304 trillion won and 1.2235 trillion won, respectively.
Other corporations maintained a net buying advantage of 1.6492 trillion won.
Foreign investors also net-sold 680 billion won in the KOSPI 200 futures market.
The won-dollar exchange rate stood at 1,345.9 won, up 6.7 won in the Seoul foreign exchange market as of 3:30 p.m.
The KOSPI experienced a weak trend following declines across all three major indexes on the New York stock market, which were affected by soaring international oil prices and interest rates.
As the prolonged war drove up international oil prices significantly and heightened inflation concerns, interest rates surged not only in the United States but also in South Korea.
Around the same time, Brent crude futures surpassed 100 dollars per barrel at 105.74 dollars, and West Texas Intermediate (WTI) climbed to 100.92 dollars, with both crossing the 100-dollar threshold.
The yield on 10-year US Treasury bonds exceeded 4.9%, and the yield on 3-year Korean Treasury bonds surpassed 4.0% during intraday trading, reaching its highest level in about three years.
Additionally, caution surrounding the announcement of the US Consumer Price Index (CPI) for August scheduled for tonight acted as a burden on the market.
Lee Kyung-min, a researcher at Daishin Securities, said, "As the CPI to be released tonight serves as a key variable determining the future direction of financial markets, caution has heightened in the market due to the steep rise in international oil prices and producer prices."
Among top market capitalization stocks, leading KOSPI shares Samsung Electronics (-3.53%) and SK Hynix (-2.21%) dragged down the index, while SK Square (-4.05%), LG Energy Solution (-1.37%), and Hyundai Motor (-1.67%) also saw their share prices decline.
Conversely, KB Financial Group (2.60%), Doosan Enerbility (1.00%), and Hanwha Aerospace (1.31%) advanced.
By industry sector, construction (1.90%), insurance (1.56%), and general services (1.43%) gained ground, whereas electric and electronics (-2.66%), manufacturing (-2.21%), and medical and precision instruments (-2.18%) declined.
The number of advancing stocks in the KOSPI market stood at 369, while 475 declined, and 73 remained unchanged.
The KOSDAQ index finished the session down 16.28 points (1.95%) at 820.64 compared to the previous trading day.
The index started at 816.91, down 20.01 points (2.39%), and remained weak until the close.
In the KOSDAQ market, retail investors net-purchased 511.7 billion won, while foreign and institutional investors net-sold 313.6 billion won and 215.9 billion won, respectively.
Among top cap stocks, Alteogen (-3.25%), EcoPro (-2.88%), and EcoPro BM (-7.08%) dropped, whereas PSK Holdings (1.29%), Olikx (9.52%), and Medytox (or Medione) rose.
In the KOSDAQ market, 607 stocks advanced, 1,004 declined, and 124 remained unchanged.
Trading volume plummeted as investor sentiment froze due to the decline in stock indexes such as the KOSPI and KOSDAQ, combined with caution ahead of the US CPI release and the weekend.
Trading values for the main Kospi market and the KOSDAQ market were recorded at 19.39 trillion won and 6.36 trillion won, respectively.
The total trading value for the pre-market and main market of alternative trading system Nextrade reached 8.8565 trillion won.
(Photo: Yonhap News)
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