KOSPI edges 0.04% higher as investors search for direction

  • KOSPI fluctuated near flat as other corporations bought shares while individuals and foreigners sold.
  • 6,974.38 marked a 3.03-point, or 0.04%, KOSPI gain at 11:25 a.m.
  • KOSDAQ rose 0.06% as institutions recorded 89.6 billion Korean won in net purchases.

South Korea’s KOSPI was little changed at 6,974.38 by 11:25 a.m., up 3.03 points, or 0.04%, after opening at 6,938.27. Individuals and foreign institutions were net sellers, while other corporations were the only net buyers, with their purchases estimated to include Samsung Electronics and SK Hynix shares. The U.S. 10-year Treasury yield reached 5.34%, a 24-year high, before closing at 5.234% after seven consecutive trading days of increases. Oil prices also rose sharply, with November WTI crude futures gaining 2% to $92 and Brent crude closing 4% higher at $102. The KOSDAQ rose 0.06% to 894.82, led by institutional net buying of 89.6 billion Korean won, while optical communications and telecommunications equipment stocks advanced.

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