The KOSPI failed to secure a foothold above the 7,000 level amid external variables such as rising international oil prices.
On the 8th, the KOSPI closed at 6,954.52, down 40.87 points (0.58%) from the previous day. The KOSPI opened above the 7,000 level on this day and reclaimed the 7,000 mark intraday for the first time in 15 trading sessions. It then widened its gains to reach as high as 7,171.52 before reversing course downward toward the end of trading.
The KOSPI rose initially on renewed investor sentiment for semiconductor stocks following OpenAI's launch of GPT-6 Astra and expectations surrounding U.S.-related investment projects. However, toward the close, rising international oil prices and trade tensions between the United States and Canada pulled the index down.
Lee Sang-yeon, a researcher at Shinhan Securities, explained: "On the 4th (local time), semiconductor stocks rose in the U.S. market, and on the 7th, the U.S. market was closed for Labor Day, which contributed to the KOSPI's rise centered on semiconductor stocks. However, as international oil prices surged sharply and concerns grew over the upcoming release of the U.S. PPI (producer price index) and CPI (consumer price index) this week, the KOSPI reversed downward just before the market closed."
Saudi Aramco, a state-owned oil company in Saudi Arabia, had its refining facilities attacked, causing international oil prices to surge sharply. During trading, WTI (West Texas Intermediate) crude oil futures and Brent crude futures each exceeded $93 and $97, respectively. The PPI and CPI are scheduled for release on the 10th and 11th, respectively.
In the KOSPI market, retail investors sold off stocks worth 3.3334 trillion won in net sales. Foreign investors turned to net buying during trading, purchasing stocks worth 648.3 billion won. Institutional investors also bought stocks worth 642.9 billion won in net purchases.
Among KOSPI sectors, IT (information technology) fell 3.21%, and medical devices and precision instruments dropped 2.1%. Transportation equipment and parts, pharmaceuticals, transportation warehousing, insurance, telecommunications, and chemicals all declined by more than 1%. In contrast, electricity and gas, as well as construction, rose by over 3%, while general services increased by 1.74%.
Among the top market capitalization stocks in KOSPI, Samsung Electronics fell 5.78%. LG Energy Solution and Hyundai Motor slipped 3.86% and 2.04%, respectively. Samsung Electronics, which had shown an upward trend during trading, closed nearly flat, while SK Hynix and SK Square also ended the session with a slight gain. Doosan Enerbility, which had surged more than 6% on expectations of benefiting from U.S.-related investment projects, managed only a 1.82% increase by the close.
The KOSDAQ recorded a decline of 10.31 points (1.25%) to close at 811.88 compared to the previous day. Although the KOSDAQ opened higher on this day, it ultimately closed lower.
In the KOSDAQ market, institutional investors sold stocks worth 217.9 billion won in net sales. Retail investors and foreign investors bought stocks worth 149.1 billion won and 60.8 billion won, respectively, in net purchases.
Among KOSDAQ sectors, general services, pharmaceuticals, textiles and apparel, machinery and equipment, chemicals, and manufacturing all declined by more than 1%. Metals and entertainment/culture closed nearly flat.
Among the top market capitalization stocks in KOSDAQ, materials, components, and equipment (so-bu-jang) semiconductor stocks showed strength but narrowed their gains toward the end of trading. Jungsung Engineering rose 3.95%, while Simtek and Padu increased by 1.67% and 1.57%, respectively. In contrast, AlteoGen, RAINBOW Robotics, and HLB all fell by more than 3%.
On this day, the won/dollar exchange rate closed the weekly trading session at 1,345.6 won, up 5.1 won from the previous trading day's closing price.
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