[Opening Market] KOSPI Opens Weak Around 6,250 Level
The domestic stock market opened lower on August 11, affected by deepening geopolitical risks, rising U.S. Treasury yields and international oil prices, and weakness in technology stocks on the New York stock market. As of 9:50 AM, the KOSPI index recorded 6,255.75, down 43.91 points (0.70%) from th
On August 11, the KOSPI stock market opened lower, influenced by increasing geopolitical tensions, higher U.S. Treasury yields, and surging international oil prices. By 9:50 AM, the KOSPI index stood at 6,255.75, a drop of 43.91 points (0.70%) from the previous day and hovering near the 6,250 mark. The KOSDAQ, which had previously risen, was also struggling with profit-taking, as foreign investors made net purchases of 110-120 billion won to counter further declines.
Large-cap technology stocks experienced a significant impact from Microsoft's production of AI chips and semiconductor stocks, leading to mixed performances among major companies. Samsung Electronics and SK hynix, while initially down, were displaying no clear upward or downward trend, hovering around flatlines. The won/dollar exchange rate started higher than the previous day, driven by a preference for safe assets amid the geopolitical uncertainties, with the rate aiming for the 1,420 won mark.
Analysts predict a volatile phase of short-term fluctuations for the domestic stock market, with key U.S. inflation indicators, Middle East tensions, and foreign inflows in futures and spot supply and demand as the primary influencing factors.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
