KOSPI Slips on Concerns Over the End of Samsung Electronics and SK hynix Share Buybacks; KOSDAQ Rises [fn Market Close]

[Financial News] The KOSPI closed lower, weighed down by foreign investors’ selling of around 1.7 trillion won. The decline is believed to have been driven by rising caution as government bond yields remain elevated and the end of Samsung Electronics and SK hynix’s share buybacks approaches.
According to the Korea Exchange, the KOSPI closed at 6,941.39 on the 6th, down 62.35 points (0.89%) from the previous trading day.
On the main board, individual investors and institutions each recorded net purchases of 780.2 billion won, while foreign investors recorded net sales of 1.7672 trillion won.
By sector, medical and precision instruments (6.53%), chemicals (1.59%), and machinery and equipment (0.82%) advanced, while transportation equipment and parts (-1.43%), electrical and electronic equipment (-1.31%), and pharmaceuticals (-1.09%) declined.
Among the companies with the largest market capitalizations, Samsung SDI (8.13%), Samsung Electro-Mechanics (5.88%), and LG Energy Solution (4.58%) were among the gainers, while Hanwha Aerospace (-4.38%), SK hynix (-3.64%), and Samsung Biologics (-3.10%) were among the decliners. Samsung Electronics also closed at 271,500 won, down 4,500 won (1.63%) from the previous trading day.
The weakness in the two leading large-cap semiconductor stocks is believed to stem from caution over the end of their share buybacks. Samsung Electronics’ share buyback is nearing its end this week, while SK hynix’s is nearing its end next week.
The KOSDAQ, by contrast, closed at 919.92, up 26.63 points (2.98%) from the previous trading day. Foreign investors and institutions recorded net purchases of 121.4 billion won and 110.3 billion won, respectively, while individual investors recorded net sales of 214.7 billion won.
“The burden of high interest rates persists as long-term interest rates rise, amid factors including instability in European government bond markets stemming from fiscal uncertainty in France,” said Lim Jeong-eun, a researcher at KB Securities. “Samsung Electronics’ preliminary earnings announcement on the 8th is expected to serve as a key factor in gauging AI and semiconductor momentum and the future direction of the index.” 
[email protected] Bae Han-geul Reporter