'Oil and Interest Rate Rises' Weaken Semiconductor Sentiment...KOSPI Falls More Than 2% [fn Afternoon Market Update]

[Financial News] The KOSPI Composite Index is weakening as U.S. Treasury yields and oil prices rise amid escalating clashes between the United States and Iran.
According to the Korea Exchange (KRX) on the 11th, the KOSPI Composite Index was trading at 6878.31 as of 2:07 p.m., down 155.61 points (2.21%) from the previous day.
On the KOSPI market, individual investors were making net purchases worth 2.5528 trillion won, while foreign investors and institutions were making net sales worth 2.3371 trillion won and 1.6440 trillion won, respectively.
By sector, construction (1.20%), insurance (1.16%), and electricity and gas (0.88%) were strong, while electrical and electronics (-3.26%), manufacturing (-2.71%), and medical and precision instruments (-2.62%) were weak.
Among the largest companies by market capitalization, HD Hyundai Heavy Industries (6.28%), KB Financial Group (2.25%), and Shinhan Financial Group (1.90%) were rising, while SK Group (-5.56%), SK Square (-5.02%), and Samsung Electronics preferred shares (-5.00%) were falling.
The two leading large-cap semiconductor stocks were both down in the 3% range. Samsung Electronics was trading at 258,500 won, down 10,500 won (3.90%) from the previous day, while SK hynix was trading at 1.792 million won, down 61,000 won (3.29%).
At the same time, the KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 819.70, down 17.22 points (2.06%) from the previous day. Individual investors were making net purchases worth 524.3 billion won, while foreign investors and institutions were making net sales worth 386.3 billion won and 143.8 billion won, respectively.
Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, explained, "Saudi Arabia's crude oil exports in August fell to their lowest level in 13 years, and West Texas Intermediate crude oil (WTI) also broke above $100 as Houthi rebels seized a strategic location in the Red Sea." He added, "Yields on 10-year and 30-year U.S. Treasury bonds broke above 4.96% and 5.36%, respectively, approaching a critical threshold."   

[email protected] Bae Han-geul Reporter