KOSPI expected to give back gains after breaking 7,000

  • KOSPI is expected to surrender part of its previous session’s gains.
  • 7,028.71 was the KOSPI’s closing level on the 9th, up 1.07%.
  • SK Hynix rose 1.99% in Nextrade pre-market trading on the 10th.

The KOSPI is expected to consolidate on the 10th after reclaiming 7,000 in the previous session, as higher U.S. long-term Treasury yields and international oil prices pressure risk assets and the simultaneous expiration of futures and options threatens to increase supply-demand volatility. In Nextrade pre-market trading, SK Hynix rose 1.99% and SK Square gained 0.62%, while Samsung Electronics was unchanged at 269,500 won. Several major stocks declined, although KB Financial Group and Shinhan Financial Group advanced. The KOSPI closed at 7,028.71 on the 9th, up 1.07%, after reaching 7,112.48 intraday, while the KOSDAQ rose 1.66% to 825.33. Analysts say semiconductor strength, particularly in SK Hynix, will be important in determining how much of the previous advance the index gives back. Market sensitivity to Middle East-related risks has also eased compared with August, when U.S.-Iran military conflict resumed and the U.S. 10-year yield entered the 4.8% range, suggesting greater resilience to repeated macroeconomic and geopolitical shocks.

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