The KOSPI closed down nearly 2% today (the 7th), barely hanging onto the 6,800 level due to rising bond yields and cautious sentiment surrounding Samsung Electronics' earnings.

According to the Korea Exchange, the KOSPI finished the session at 6,803.90, down 137.49 points (1.98%) from the previous trading session.

The index opened at 6,864.25, down 77.14 points (1.11%) from the prior close, and briefly rebounded before turning downward and expanding its losses.

Despite retail investors net-buying 2.557 trillion won, foreign and institutional investors net-sold 2.6087 trillion won and 668.4 billion won, respectively, pulling the index down.

Other corporations, which had drawn attention as major supply-demand players in the KOSPI market through treasury stock purchases by Samsung Electronics and SK Hynix, posted a net-purchase volume of 709 billion won on this day, showing a weakened buying momentum compared to the previous daily average of around 1.6 trillion won.

Samsung Electronics had acquired its initially planned 15 trillion won worth of treasury stocks as of the previous day, while SK Hynix has completed about 80% of its scheduled purchase volume.

Previously, SK Hynix had purchased 600,000 to 650,000 shares of treasury stock daily, but reduced its purchase volume to 400,000 to 500,000 shares starting on the 2nd.

Foreigners were also net sellers in the KOSPI 200 futures market, amounting to 292 billion won.

As of 3:30 p.m. in the Seoul foreign exchange market, the won-dollar exchange rate stood at 1,340.4 won, down 3.2 won from the previous session.

The KOSPI opened lower following overnight declines in memory semiconductor share prices, such as Micron Technology and SK Hynix ADRs, in the U.S. stock market.

Although top-cap Samsung Electronics rose more than 2% to briefly lead a KOSPI rebound, it subsequently turned lower, dragging the overall index down and widening its losses.

This is attributed to a rise in U.S. Treasury yields, as international oil prices, which had recently been on a downward trend, rebounded amid intensifying military clashes around the Bab el-Mandeb Strait.

U.S. West Texas Intermediate (WTI) futures prices surpassed 90 dollars per barrel, and Brent crude exceeded 101 dollars as of 3:45 p.m.

Consequently, the yield on the 10-year U.S. Treasury bonds also rebounded, surpassing 5.3%.

In addition, cautious sentiment ahead of Samsung Electronics' preliminary third-quarter earnings announcement, scheduled for tomorrow (the 8th), appeared to have influenced the index movement.

Lee Kyung-min, an analyst at Daishin Securities, noted, LG Electronics' third-quarter operating profit fell 24.8% below expectations, which stimulated caution regarding earnings ahead of Samsung Electronics' preliminary earnings announcement.

Among large-cap stocks, Samsung Electronics and SK Hynix fell 1.29% and 2.82%, respectively, while SK Square (-1.64%), Samsung Electro-Mechanics (-4.24%), and Hyundai Motor (-3.45%) also declined.

Conversely, LG Energy Solution (0.26%), KB Financial Group (0.96%), and Celltrion (0.60%) advanced.

By sector, medical and precision equipment (5.86%), entertainment and culture (3.95%), and textiles and apparel (1.51%) rose, whereas metals (-4.14%), transportation equipment and parts (-3.54%), and machinery and equipment (-2.50%) declined.

In the KOSPI market, 333 stocks advanced, 527 declined, and 57 remained unchanged.

The KOSDAQ index finished the session at 898.43, down 21.49 points (2.34%) from the previous session.

The index opened at 917.45, down 2.47 points (0.27%), and extended its losses, giving up the 900 line in a single day.

In the KOSDAQ market, retail investors net-bought 503.8 billion won, while foreign and institutional investors net-sold 265.1 billion won and 216.4 billion won, respectively.

Among top market-cap shares, Alteogen (-1.15%), EcoPro (-3.67%), and EcoPro BM (-3.41%) fell, whereas PSK Holdings (3.55%), TSE (0.80%), and PharmaResearch (0.82%) gained.

In the KOSDAQ market, 596 stocks advanced, 1,060 declined, and 85 remained unchanged.

Trading values for the Kospi market and the Kosdaq market were tallied at 19.743 trillion won and 7.632 trillion won, respectively.

The pre-market and main market trading values of the alternative trading system Nextrade totaled 10.602 trillion won.

(Photo: Yonhap News)