KOSPI Weakens Amid Rising Interest Rates and Oil Prices, Alongside Calls to Slow AI Spending[fn Afternoon Market Update]

[Financial News] The KOSPI Composite Index has been unable to rebound amid rising U.S. Treasury yields and international oil prices, as well as calls to slow the pace of artificial intelligence (AI) investment.
As of 1:47 p.m. on the 15th, the KOSPI Composite Index was trading at 6,640.46, down 43.91 points, or 0.66%, from the previous trading day. The index opened at 6,659.25, down 25.12 points, or 0.38%, and has fluctuated throughout the session.
Foreign investors and institutions are weighing on the index by recording net sales of 1.2172 trillion won and 655.5 billion won, respectively. Individual investors are the only group recording net purchases, totaling 565.5 billion won.
Several external factors are combining to exert downward pressure. A sharp rise in the 10-year U.S. Treasury yield and international oil prices, along with calls to slow the pace of AI investment, are acting as negative factors.
U.S. markets also closed lower across the board overnight. The Dow Jones Industrial Average (DJIA) fell 0.29%, the Standard & Poor's 500 Index (S&P 500 Index) declined 0.48%, and the NASDAQ Composite Index dropped 0.56%.
On the main stock market, SK hynix (0.03%), SK Square (0.06%), and LG Energy Solution (3.41%) were rising, while Samsung Electronics (-0.50%), Samsung Electro-Mechanics (-0.90%), Hyundai Motor (-0.67%), Samsung Biologics (-0.28%), and KB Financial Group (-2.73%) were weakening.
By sector, medical and precision instruments, construction, chemicals, IT services, pharmaceuticals, and textiles and apparel were gaining. Transportation equipment and parts, insurance, securities, retail, transportation and warehousing, electricity and gas, and machinery and equipment were declining.
At the same time, KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 816.02, up 9.23 points, or 1.14%, from the previous session. KOSDAQ opened lower but reversed course early in the session and continued to expand its gains.

[email protected] Minji Seo Reporter