KOSPI Composite Index Down More Than 1% Under Pressure from Oil Prices and Interest Rates [fn Afternoon Market]

[Financial News] The KOSPI Composite Index is down more than 1% amid pressure from oil prices and interest rates.
As of 2:04 p.m. on the 29th, the KOSPI Composite Index was trading at 6,819.10, down 70.64 points (1.03%) from the previous trading day. The index opened at 6,844.41, down 45.33 points (0.66%) from the previous session, then fluctuated before widening its losses in the afternoon.
Foreign investors and institutions are currently net sellers of 1.9291 trillion won and 511.3 billion won, respectively. Retail investors are the only net buyers, with net purchases of 1.0153 trillion won.
Samsung Electronics rose 0.28%, while SK hynix fell 1.02%, showing mixed performance.
Samsung Electro-Mechanics is also rising, up 1.80%, while SK Square (-0.36%), LG Energy Solution (-3.57%), Hyundai Motor (-2.54%), Samsung Biologics (-1.43%) and KB Financial Group (-0.98%) are all lower.
Stocks in all sectors except medical and precision instruments and food, beverages and tobacco are falling. Construction, metals, paper and wood, chemicals, general services, transport equipment and parts, IT services, and electricity and gas are among the biggest decliners.
Rising U.S. Treasury yields and international oil prices are believed to be weighing on South Korean stocks. Overnight, the yield on 10-year U.S. Treasuries soared as high as 5.241% during trading, reaching its highest level since June 2007.
International oil prices continued to rise. Brent crude futures settled at $105.28 per barrel, up 0.92% from the previous day, while West Texas Intermediate crude oil (WTI) futures settled at $92.60 per barrel, up 0.21%. At one point during the session, prices surged by more than 4%.
Meanwhile, at the same time, the KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 844.20, down 2.38 points (0.28%) from the previous trading day.

[email protected] Seo Min-ji Reporter