KOSPI Starts Lower Amid US Treasury Yields and Tech Stock Pressure

The KOSPI opened lower. It appears that the sharp rise in U.S. Treasury yields and the steep decline in tech stocks had an impact.

As of 9:33 a.m. on the 26th, the KOSPI recorded 2,323.18, down 39.99 points (1.69%) from the previous trading day.

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On the 25th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average, centered on blue-chip stocks, closed at 33,035.93, down 105.45 points (0.32%) from the previous trading day. The S&P 500 index, focused on large-cap stocks, recorded 4,186.77, down 60.91 points (1.43%). The Nasdaq index also closed at 12,821.22, down 318.65 points (2.43%).

The poor performance of tech stocks had an impact. Alphabet's Q3 revenue and earnings, released after the market closed the previous day, exceeded expectations, but concerns about weakness in the cloud segment were confirmed, causing its stock price to fall more than 9%. Additionally, Treasury yields also acted as a burden. The 2-year Treasury yield rose about 2 basis points (1bp = 0.01 percentage points) to 5.13%, but the 10-year and 30-year Treasury yields rose 13bp and 15bp, respectively, reaching 4.96% and 5.09%.

By investor type, individuals and foreigners sold net amounts of 7.4 billion KRW and 125.9 billion KRW, respectively. Meanwhile, institutions bought a net 137.3 billion KRW.

Most sectors are declining. Paper and wood plunged 12.70%, and steel and metals fell 3.12%. Machinery, chemicals, and others are also down more than 2%.

Among the top market capitalization stocks, Samsung Electronics traded at 67,000 KRW, down 1,000 KRW (1.47%) from the previous trading day. POSCO Future M fell 5.11%, and SK Hynix, LG Chem, Samsung SDI, and others also dropped about 4%. Additionally, LG Energy Solution, Hyundai Motor, Kia, and others fell more than 1%. On the other hand, Samsung Biologics rose 1.24%.

The KOSDAQ also recorded 751.44, down 19.40 points (2.52%) from the previous trading day.

By investor type, individuals and institutions sold net amounts of 34.3 billion KRW and 0.8 billion KRW, respectively. Foreigners bought a net 38.3 billion KRW.

All sectors are declining. Entertainment and culture fell 4.51%. Semiconductors, general electric and electronics, non-metallic minerals, and others also dropped more than 3%.

Among the top market capitalization stocks, EcoPro BM recorded 205,500 KRW, down 7,500 KRW (3.52%) from the previous trading day. HPSP fell 8.29%, and POSCO DX and SM also dropped about 6%. On the other hand, Alteogen rose 4.56%.

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