On the 8th, the KOSPI opened at 7,353.94, down 136.11 points (1.82%) from the previous day. As the early-session decline narrowed slightly, the index was down around 1.8% as of 9:07 a.m.
As expectations for progress in U.S.-Iran talks cooled the day before, foreign investors continued net selling in Korea's stock market.
In particular, large-cap stocks such as Samsung Electronics and SK hynix fell about 3%, dragging the index lower.
Foreign investors are also showing a selling bias in the main board. Foreign investors are net selling 1.4 trillion won. However, with retail funds (1.5 trillion won in net purchases) flowing in, the 7,300-point level is being maintained.
The KOSDAQ index is on the rise. The KOSDAQ opened at 1,199.47, up 0.29 points (0.02%) from the previous day. Extending early gains, it was trading at 1,209.42 as of 9:10 a.m.
U.S. stocks fell across all three major indexes the previous day as expectations for progress in U.S.-Iran talks receded. The Dow Jones Industrial Average and the Standard & Poor's (S&P) 500 fell 0.63% and 0.38%, respectively, and the Nasdaq also slipped 0.13%.
According to The Wall Street Journal (WSJ), a senior Iranian official said the country would not allow the United States to reopen the Strait of Hormuz and exit the war without any compensation.
WSJ reported that after Saudi Arabia and Kuwait reversed decisions to halt U.S. military aircraft overflight, the United States is reviewing restarting "Project Freedom," a plan to help merchant ships trapped in the Strait of Hormuz escape.