KOSPI falls as oil prices jump, but retains 7,000
The KOSPI edged lower Thursday amid a surge in international oil prices triggered by geopolitical tensions in the Middle East, but managed to close above the 7,000 mark. The benchmark index closed at 7,033.92, down 0.25 percent from the previous session. The index opened 0.18 percent lower and rose as high as 7,072.79 before falling to 6,898.45. It then fluctuated around the 7,000 level as…
On Thursday, the KOSPI index experienced a slight decline due to an increase in international oil prices caused by Middle Eastern geopolitical tensions, yet it managed to stay above the 7,000 threshold. The index closed at 7,033.92, marking a 0.25 percent decrease from the previous trading day. Initially, the index saw a 0.18 percent drop at its opening, but it quickly rebounded, peaking at 7,072.79 before plummeting to 6,898.45.
Following that, the KOSPI hovered around the 7,000 level as the pressure from institutional selling lessened. Foreign investors sold a total of 2.48 trillion won ($1.85 billion) in shares, while retail and institutional investors bought shares worth 380 billion won and 433.5 billion won, respectively. SK hynix experienced a 0.16 percent decline, closing at 1.853 million won, while Samsung Electronics suffered a 0.19 percent loss, finishing at 269,000 won.
Meanwhile, the secondary Kosdaq index showed a gain of 0.79 percent, closing at 836.92. Despite the resilience shown by U.S. semiconductor shares following Meta's introduction of its agentic AI, Muse, external risks continued to exert downward pressure on the stock market. The absence of any near-future negotiations between Iran and the U.S. also contributed to the ongoing rise in international oil prices.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- KOSPI falls as oil prices jump, but retains 7,000 koreatimes.co.kr
