KOSPI gives up 6,500 level amid weakness in U.S. tech stocks [fn Morning Market Update]

[Financial News] KOSPI fell more than 2% amid foreign selling on the morning of the 12th, giving up the 6,500 level.
According to the Korea Exchange, as of 10:05 a.m. that day, the KOSPI index was at 6,481.44, down 144.49 points (2.18%) from the previous trading day.
After falling for three consecutive trading days last week, it has now been weak for four straight trading days.
The market appears to be under strong downward pressure as global headwinds—including weakness in U.S. tech stocks during the New York market's closure for the Hangeul Day holiday and a renewed rise in Treasury yields—are being priced in. This is believed to reflect the impact of increased volatility in AI-related stocks amid controversy over the scale of OpenAI's revenue.
In the New York stock market, the Philadelphia Semiconductor Index (SOX) plunged 3.39% on the 8th (local time) and fell a further 0.41% on the 9th, ending last week's trading lower.
Foreign investors have been selling on the securities market since the start of trading. They alone are net sellers of 468.4 billion won. Individuals and institutions are net buyers of 168.3 billion won and 176.5 billion won, respectively.
Samsung Electronics and SK hynix, both large-cap semiconductor stocks, are unable to avoid declines. Samsung Electronics is trading at 256,000 won, down 2.19% from the previous session. SK hynix is also trading at 1.617 million won, down 3.69%. SK Square (-4.19%) and LG Electronics (-5.09%) are also lower.
KOSPI-listed secondary battery-related stocks, including LG Energy Solution (0.25%) and Samsung SDI Co., Ltd. (1.23%), are edging higher.
At the same time, the KOSDAQ index stood at 865.32, down 26.68 points (2.99%) from the previous trading day.
In the KOSDAQ market, foreign investors and institutions alike have moved to sell. Foreign investors are net sellers of 98.7 billion won, while institutions are net sellers of 27.5 billion won. Individuals are net buyers of 117.1 billion won.
Among the KOSDAQ stocks with the largest market capitalizations, Alteogen (-3.32%), Jusung Engineering (-1.68%), Rainbow Robotics (-7.58%), EcoPro BM (-7.14%) and Leeno Industrial (-8.87%) are all lower.
[email protected] Joo Won-gyu Reporter