After Hitting an Intraday High, Stocks Fall... KOSPI Gives Up the 6,600 Level on Surging Oil Prices [fn Closing Market]

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[Financial News] KOSPI fell more than 1% as international oil prices jumped to their highest level in four years. The KOSDAQ Index also dropped more than 2%, slipping below the 1,200 mark. 
\r\nAccording to the Korea Exchange (KRX) on the 30th, the KOSPI closed at 6,598.87, down 92.03 points, or 1.38%, from the previous session. The index opened 0.72% higher at 6,739.39. It rose to an intraday high of 6,750.27 in early trading, setting a new record, but later widened its losses in the afternoon and fell back to the 6,500 range.
\r\nIn the main board market, individual investors bought 1.1879 trillion won worth of shares, while foreign investors posted a net selling position of 1.4625 trillion won. Institutions were net buyers of 283.6 billion won.
\r\nBy sector, construction (-4.13%), securities (-3.65%), and metals (-2.08%) posted steep declines. Most sectors finished lower, while only food, beverage & tobacco (0.46%) closed higher.
\r\nAmong the large-cap stocks, most declined, including Samsung Electronics (-2.43%), SK Hynix (-0.54%), Hyundai Motor Company (-4.5%), and LG Energy Solution (-2.64%). Only SK Square (1.33%) and Samsung Electro-Mechanics (0.6%) advanced.
\r\nOvernight, U.S. stocks ended mixed without a clear direction, despite expectations for earnings from semiconductor and tech names such as Intel and Micron. The market also digested the hawkish results of the April Federal Open Market Committee (FOMC) meeting. The Federal Reserve System kept its benchmark rate unchanged at 3.5% to 3.75%. However, four FOMC members expressed opposition to the decision to hold rates steady, leading markets to interpret the outcome as hawkish, signaling monetary tightening.
\r\nAs military tensions in the Middle East escalated again, international oil prices surged sharply, dragging the domestic stock market down more than 1% by the close.
\r\nAt 2 p.m. Korea time, Brent Crude Oil futures for June delivery on ICE Futures Europe were up 4.81% from the previous session at $123.71. During the session, prices climbed as high as $126, marking the highest intraday level since April 2022 and a four-year high.
\r\nSome foreign media reported that CENTCOM commander Brad Cooper was scheduled to meet with President Donald John Trump later in the day. That raised the possibility that the U.S. military was reconsidering its military options, which in turn pushed oil prices higher.
\r\nThe KOSDAQ Index closed at 1,192.35, down 27.91 points, or 2.29%, from the previous session. As a result, the KOSDAQ fell back into the 1,100 range for the first time in five trading days. 
\r\nOn the KOSDAQ market, individual investors were the only net buyers, purchasing 553.1 billion won worth of shares. Foreign investors and institutions sold 216.3 billion won and 304.6 billion won worth of shares, respectively.
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nodelay@fnnews.com Park Ji-yeon Reporter