KOSPI opens lower, trims losses to reclaim the 7,600 level [Morning Market Update]

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[Financial News] KOSPI Composite Index recovered the 7,600 level as it narrowed its losses despite foreign selling.
\r\nAs of 10:14 a.m. on the 13th, KOSPI Composite Index was trading at 7,629.78, down 13.37 points, or 0.17%, from the previous session. The index had fallen to the 7,400 level early in the session, but it has been gradually cutting its losses.
Foreign investors led the decline with net sales of 2.0077 trillion won. Retail investors were net buyers of 1.7391 trillion won, while institutions posted net purchases of 190.1 billion won.
Samsung Electronics is down 1.79% amid the possibility of a full-scale strike. At one point during the session, it plunged by more than 6%.
Among other large-cap stocks, SK hynix (2.67%), SK Square (1.51%), Hyundai Motor Company (6.97%), HD Hyundai Heavy Industries (1.56%), Samsung Electro-Mechanics (3.65%), and Kia (1.90%) are trading higher. In contrast, LG Energy Solution (-2.82%), Doosan Enerbility (-4.86%), Samsung C&T Corporation (-5.06%), Samsung Biologics (-2.43%), and Hanwha Aerospace (-1.71%) are weaker.
By sector, transportation equipment and parts, transportation and warehousing, manufacturing, electrical and electronics, and nonmetallic products are rising. General services, retail, construction, securities, machinery and equipment, telecommunications, and pharmaceuticals are declining.
The mixed close on NYSE, weighed down by a stronger-than-expected United States Consumer Price Index (CPI) reading and rising oil prices on renewed uncertainty over U.S.-Iran negotiations, appears to have put downward pressure on the domestic market.
Han Ji-young, an analyst at KIWOOM Securities Co., Ltd., said, "Inflation uncertainty pushed the U.S. 10-year Treasury yield above 4.46%, adding to rate-related pressure on the stock market." She added, "The recent surge in semiconductor stocks is also creating profit-taking pressure."
She also predicted, "However, bargain-hunting demand triggered by the recent sharp drop, including the previous day, is likely to emerge intraday and help the market recover some of its losses."
Meanwhile, at the same time, KOSDAQ was trading at 1,167.15, down 12.14 points, or 1.03%, from the previous session.
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jisseo@fnnews.com Seo Min-ji Reporter