KOSPI Composite Index falls for fourth straight session; retail investors are the only buyers [fn Market Close]

[Financial News] The KOSPI Composite Index fell for a fourth consecutive session after fluctuating throughout the day, slipping to the low 6,600 range.
The KOSPI Composite Index closed at 6,627.26 on the 15th, down 57.11 points, or 0.85%, from the previous session. The index opened lower and attempted to rebound during the session, but selling by foreign investors and institutions held it back.
Retail investors posted net purchases of 833.1 billion won, while foreign investors and institutions recorded net selling of 1.5711 trillion won and 905.1 billion won, respectively.
Sharp rises in U.S. Treasury yields and international oil prices, along with concerns that major artificial intelligence (AI) companies may slow the pace of development, weighed on the market. The yield on the U.S. 10-year Treasury note surpassed 5% the previous day for the first time since October 2023. Brent crude and West Texas Intermediate (WTI) crude rose by more than 1%, closing at $105.68 and $101.39, respectively.
The stance among major AI companies that they would moderate the pace of technological development also weighed on stocks. Han Ji-young, a researcher at KIWOOM Securities, analyzed, "Domestic and overseas semiconductor stocks are once again being put to the test amid concerns about a slowdown in AI momentum. If a slowdown in the AI investment cycle created downward pressure on stock prices last July, this time, the opposite concern—that the pace of AI technological development is too fast—is fueling selling."
Han added, "The market is not questioning the AI industry's growth potential itself, but uncertainty surrounding this month's Federal Open Market Committee (FOMC) meeting is making investors more sensitive to negative factors. Although the concentration of investment has eased, semiconductors still retain their status as the market's leading sector. To sustain a recovery in the domestic stock market, it is important to establish a firm downside support for semiconductor stocks."
As a result, Samsung Electronics and SK hynix closed down 0.20% and 0.41%, respectively, on the main bourse. Samsung Electro-Mechanics (-1.50%), Hyundai Motor (-1.21%), Samsung Biologics (-0.56%), KB Financial Group (-3.19%), Samsung Life Insurance (-4.19%), and Samsung C&T (-3.21%) also declined, while LG Energy Solution (3.98%) and Samsung SDI (2.82%) posted gains.
By sector, medical and precision instruments, construction, IT services, and textiles and apparel rose, while transportation equipment and parts, insurance, retail, finance, transportation and warehousing, securities, and electricity and gas declined.
Meanwhile, KOSDAQ (Korea Securities Dealers Automated Quotations) closed at 812.41, up 5.62 points, or 0.70%, from the previous session.
[email protected] Minji Seo Reporter