KOSPI Starts Lower Amid Rising US Treasury Yields... "Decline Narrows"

The KOSPI, which started off declining, is reducing its losses. It had fallen nearly 1% due to the impact of the U.S. stock market dropping across the board as the U.S. 10-year Treasury yield rose to its highest level, but the decline is now easing.

As of 9:28 a.m. on the 18th, the KOSPI stood at 2,503.83, down 16.02 points (0.64%) from the previous trading day.

The won-dollar exchange rate, which briefly surpassed the previous high the day before, started to decline on the 18th. Employees are working in the dealing room at Hana Bank in Myeongdong, Seoul. Photo by Younghan Heo younghan@

On this day, the KOSPI opened down 0.98% compared to the previous trading day and extended its losses to as much as 1.20%. The early session weakness is interpreted as being due to the decline in the U.S. stock market. The U.S. 10-year Treasury yield rose to 4.31% on this day, the highest level since 2008. Inflation is not falling as quickly as expected. Additionally, positive economic indicators have strengthened expectations that interest rates will not fall quickly, putting pressure on investor sentiment.

On the 17th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 34,474.83, down 290.91 points (0.84%) from the previous session. The S&P 500, which focuses on large-cap stocks, closed at 4,370.36, down 33.97 points (0.77%), and the tech-heavy Nasdaq closed at 13,316.93, down 157.70 points (1.17%).

By investor type, individual and foreign investors were net buyers of 113.6 billion KRW and 8.2 billion KRW, respectively. Conversely, institutions were net sellers of 123.6 billion KRW.

By sector, machinery, electrical and electronics, textiles and apparel, and services are down more than 1%. In contrast, insurance, pharmaceuticals, and transportation and warehousing sectors are up more than 1%.

Among the top market capitalization stocks, Samsung Electronics traded at 66,000 KRW, down 700 KRW (1.05%) from the previous trading day. LG Energy Solution, LG Chem, NAVER, and POSCO Future M also fell more than 1%. Meanwhile, Celltrion rose 5.78% due to the merger issue with Celltrion Healthcare.

The KOSDAQ traded at 879.32, down 6.72 points (0.76%).

By investor type, individuals were net buyers of 174.8 billion KRW. Conversely, foreign and institutional investors were net sellers of 113.6 billion KRW and 61.1 billion KRW, respectively.

By sector, the internet sector fell 2.12%, while IT components, telecommunications equipment, paper and wood, metals, software, and machinery and equipment all declined more than 1%. In contrast, the distribution sector rose 3.53%.

Among the top market capitalization stocks, EcoPro BM traded at 321,000 KRW, up 3,000 KRW (0.94%) from the previous trading day. Celltrion Healthcare rose 8.09%. Conversely, L&F fell 4.63%, and JYP Ent. and SM Entertainment both dropped more than 3%. Additionally, POSCO DX and HPSP recorded declines of more than 2%.

This content was produced with the assistance of AI translation services.