With international oil prices breaking above $100 per Barrel again on expectations that the Strait of Hormuz could remain closed for an extended period, the KOSPI index opened slightly higher on the 16th.
As of 9:07 a.m., the KOSPI index was at 5,534.39, up 47.15 points (0.86%) from the previous trading day. The KOSPI started the day at 5,510.82, up 0.43% from the previous trading day. Individuals and institutions were buying 55.5 billion won and 8.1 billion won, respectively, on the main board, while foreigners alone were net sellers of 62.2 billion won.
Among the large-cap stocks by market capitalization, SK hynix and Samsung Electronics rose 2.42% and 1.74%, respectively, leading the index higher. Doosan Enerbility (1.22%), Hanwha Aerospace (0.40%), LG Energy Solution (0.27%), and SK Square (0.19%) were also gaining. In contrast, Samsung Biologics (-0.82%), Hyundai Motor (-0.19%), and Kia (-0.12%) were lower.
At the same time, the KOSDAQ index was trading at 1,153.06, up 0.10 point (0.01%) from the previous trading day. The KOSDAQ started at 1,156.50, up 0.31% from the previous trading day.
On the KOSDAQ market, individuals alone net bought 138.3 billion won, while foreigners and institutions were selling 109.9 billion won and 13.1 billion won worth of shares, respectively.
KOSDAQ heavyweights were mixed. Peptron surged more than 7%, while EcoPro (1.33%), ABL Bio (0.96%), Kolon TissueGene (0.78%), LigaChem Biosciences (0.75%), and EcoPro BM (0.26%) were rising. On the other hand, Sam Chun Dang Pharm (-2.59%), Rainbow Robotics (-0.80%), and LEENO Industrial (-0.70%) were weak.
In the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,501 won per $1, up 7.3 won from the previous trading day.
Meanwhile, on the 13th (local time), the New York stock market fell as international oil prices rose amid the Middle East war and economic indicators came in below forecasts.
The Dow Jones Industrial Average closed at 46,558.47, down 0.26% from the previous trading day. The Standard & Poor's (S&P) 500 fell 0.61% to 6,632.19, and the Nasdaq composite lost 0.93% to 22,105.36.
According to the U.S. Department of Commerce, the preliminary reading for U.S. fourth-quarter gross domestic product (GDP) last year rose 0.7% at an annualized rate from the previous quarter. That was below the forecast of 1.4% and marked a sharp slowdown from the third quarter's 4.4% growth.