The KOSPI fell below the 7,000 mark amid rising U.S. long-term bond yields and a sharp surge in international oil prices.
As of 9:10 a.m. on Friday, the KOSPI is down 181.81 points (2.58%) from the previous trading session at 6,852.16. The KOSPI opened with a decline of more than 3%.
U.S. markets also fell overnight. On the 10th (local time), the S&P 500 index closed down 44.62 points (0.58%) at 7,591.74 on the New York Stock Exchange; the NASDAQ Composite Index closed down 171.62 points (0.65%) at 26,081.72; and the Dow Jones Industrial Average closed down 316.56 points (0.60%) at 52,064.10 from the previous session.
Kiwoom Securities researcher Han Ji-young said, "Today's domestic market opened lower amid macroeconomic uncertainties, including concerns over rising interest rates and oil prices, apprehension over August U.S. CPI (consumer price index) data, and the aftermath of KOSPI night futures falling by more than 3%."
In the KOSPI market (based on integration between Korea Exchange and NextTrade), foreign investors and institutional investors sold net amounts of 364.3 billion won and 670.5 billion won, respectively. Retail investors bought net 959.5 billion won.
All KOSPI sectors except for the relatively flat power/gas and paper/wood industries are declining. The electrical/electronics and manufacturing sectors are down by more than 3%, while distribution, medical/precision instruments, metals, machinery/equipment, and chemicals are down by around 2%.
Among the top KOSPI market capitalization stocks, SK Hynix and SK Square are falling by more than 4%. Samsung Electronics and Samsung C&T are down by over 3%. LG Energy Solution, Hyundai Motor, and Samsung SDI are also declining by more than 2%. On the other hand, KB Financial Group is rising by more than 1%, while Hanwha Aerospace, Doosan Enerbility, and Shinhan Financial Group are holding relatively flat.
The KOSDAQ is down 13.12 points (1.56%) from the previous trading session at 823.8.
In the KOSDAQ market, foreign investors and institutional investors sold net amounts of 55.3 billion won and 24 billion won, respectively. Retail investors bought net 82 billion won.
Among KOSDAQ sectors, publishing/media and metals are holding relatively flat, while all others are declining. Electrical/electronics, machinery/equipment, finance, manufacturing, medical/precision instruments, and general services are down by more than 2%.
Among the top KOSDAQ market capitalization stocks, Wonik IPS and PSK are down by more than 5%. EcoPro BM, IOTech, Reno Industrial, and Simtek are falling by around 3%, while AlteoGen and EcoPro are dropping by more than 2%.
As of now, the won/dollar exchange rate is recording 1,348.1 won, down 1.8 won from the previous trading session.
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