The KOSPI fell into the 6,780s as Middle East-driven oil prices rose and US Treasury yields increased. However, record-high semiconductor exports and strength in US semiconductor stocks supported the downside, limiting the decline.
The KOSPI closed at 6,792.62, down 27.40 points from the previous session, after opening at 6,784.29. It plunged as low as 6,732.47 before narrowing its decline on buying by individual investors and other corporations.
The KOSDAQ fell 15.10 points, or 1.81%, to 819.19 in the morning session. Net selling was also observed in the KOSPI 200 futures market, and overall market sentiment weakened.
By investor type, foreign investors and institutional investors were net sellers of approximately KRW 316 billion in total, while individual investors and other corporations were net buyers, supporting the index. Foreign investors were also net sellers in the futures market.
Following the turmoil in the previous day's New York market, WTI crude rose to USD 85.76 per barrel, while US long-term yields climbed above 4.75%. Meanwhile, US semiconductor stocks Nvidia and Micron rose, easing the decline in the Korean market.
South Korea's semiconductor exports in August reached a record USD 46.65 billion. Some semiconductor-related stocks attracted buying interest, while secondary-battery stocks and ESS-related shares were particularly active.