The KOSPI is extending a drop of more than 2% on the negative factors of a sharp jump in international oil prices and rising U.S. Government Bonds yields. With foreigners and institutions continuing net selling, the KOSPI index is trading around the 6,850 level.
As of 11:30 a.m. on the 11th, the KOSPI index is down 168.42 points (2.39%) from the previous trading day at 6,865.50. After opening at 6,811.33, down 222.59 points (3.16%) from the previous trading day, the KOSPI slightly pared losses as individual buying flowed in.
In the main board, foreigners and institutions are net selling 1.111 trillion won and 1.17 trillion won, respectively, pressuring the index. Among institutions, securities firms are leading the selling, dumping 1.0658 trillion won. Individuals alone net bought 1.9136 trillion won, moving in for bargain hunting.
The negative factors that led the New York stock market lower the day before appear to have affected the domestic market's decline. With geopolitical tensions rising in the Middle East, West Texas Intermediate (WTI) crude surged to $102.71 per barrel, bringing inflation concerns back to the surface.
The rise in U.S. Government Bonds yields added to the pressure, dampening global risk appetite. The 10-year Government Bonds yield topped 4.95% intraday, the highest level since October 2023.
The three major New York stock indexes closed lower for a fourth straight session. On the 10th (local time) at the New York Stock Exchange, the Dow Jones Industrial Average fell 316.56 points (0.60%) from the previous day to finish at 52,064.10.
The Standard & Poor's (S&P) 500 index fell 44.66 points (0.58%) to 7,591.70, and the tech-heavy Nasdaq composite closed down 171.62 points (0.65%) at 26,081.72.
Most of the top market-cap stocks are lower. On the back of a sharp drop in New York tech stocks, the leading domestic semiconductor stock Samsung Electronics(005930) is down 4.18% from the previous day at 257,750 won. SK hynix(000660) is also down 3.62% at 1,786,000 won.
Despite the index decline, multilayer ceramic capacitors (MLCC) and quantum cryptography theme stocks are rising as funds cluster there. Among MLCC-related names, Amotech(052710) hit the upper limit (29.98%), while Samwha Capacitor (19.01%), Korchip (9.07%), AVATEC (8.94%), and HanChem (7.50%) are surging.
Quantum cryptography and security theme stocks are also strong. AXGATE(356680) hit the upper limit (29.94%), and Dream Security(203650) (19.06%), WOORIRO (14.18%), ICTK (11.88%), Korea Computer & Systems (11.16%), and WooriNet (6.36%) are all climbing.
The KOSDAQ index is also weak alongside the KOSPI. The KOSDAQ index is down 13.55 points (1.62%) from the previous trading day at 823.37. In the KOSDAQ market, foreigners and institutions are net selling 216 billion won and 50 billion won, respectively, while individuals alone are net buying 270 billion won.
Among the top KOSDAQ market-cap names, Alteogen(196170) (-3.25%), EcoPro (-3.57%), and EcoPro BM (-6.49%)—representative names in pharmaceuticals/biotech and secondary batteries—are showing weakness.