The KOSPI index dropped nearly 2% as foreign and institutional investors sold off shares. Despite major U.S. indices reaching record highs overnight due to expectations for third-quarter earnings and easing interest rate concerns, the domestic market faced pressure from rising international oil prices and U.S. Treasury yields, coupled with cautious sentiment ahead of Samsung Electronics' preliminary earnings announcement.
On October 7, the KOSPI closed at 6,803.90, down 137.49 points (1.98%) from the previous trading day. The index opened at 6,864.25, down 77.14 points (1.11%), and continued to decline.
In the securities market, foreign and institutional investors sold a net 3.11 trillion won and 861.3 billion won, respectively. In contrast, individual investors bought a net 3.26 trillion won, providing some support to the index.
Among the top market capitalization stocks, performance was mixed. Samsung Electronics fell 1.29%, SK Hynix dropped 2.82%, SK Square decreased by 1.64%, Samsung Electro-Mechanics fell 4.24%, Hyundai Motor declined 3.45%, Samsung Biologics dropped 2.52%, and Samsung Life Insurance fell 1.40%. However, LG Energy Solution rose 0.26%, and KB Financial gained 0.96%.
The KOSDAQ index also showed weakness, closing at 898.43, down 21.49 points (2.34%) from the previous day. It opened at 917.45, down 2.47 points (0.27%), and then widened its losses.
In the KOSDAQ market, foreign and institutional investors sold a net 325.9 billion won and 226.6 billion won, while individual investors purchased a net 577.1 billion won.
All major stocks in the KOSDAQ experienced declines. Alteogen fell 1.15%, EcoPro dropped 3.67%, EcoPro BM decreased 3.41%, Juseong Engineering plummeted 11.13%, Rainbow Robotics fell 4.08%, Simtech dropped 2.63%, Rino Technology decreased 1.96%, Wonik IPS fell 7.22%, EoTechnics dropped 4.78%, and HLB decreased 3.16%.
Lee Kyung-min, a researcher at Daishin Securities, stated, "The domestic market showed renewed weakness due to rising international oil prices and U.S. Treasury yields. Additionally, caution ahead of Samsung Electronics' preliminary earnings announcement on October 8 contributed to the selling by foreign and institutional investors."
* This article has been translated by AI.
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