Kospi holds near 7,060 as quadruple witching drives investor selling

  • Kospi traded near 7,060 as foreign investors and institutions sold during quadruple witching.
  • Retail investors bought 385.7 billion won on the main board, while institutions sold 374.3 billion won.
  • Kosdaq fell 1.08% to 821.42 as foreign and institutional investors sold together.

South Korea’s Kospi traded in a narrow range near 7,060 early on Sept. 10 as foreign investors and institutions sold during quadruple witching, when stock-index futures and options and single-stock futures and options expire together. The Kospi was up 0.1% at 7,058.75 as of 9:02 a.m., with retail investors net buyers of 385.7 billion won while institutions and foreign investors sold 374.3 billion won and 11.5 billion won, respectively. Large-cap semiconductor shares advanced, with Samsung Electronics rising 0.19% and SK Hynix gaining 1.19%, amid continued expectations for the artificial intelligence industry led by OpenAI. The Kosdaq fell 1.08% to 821.42 as foreign and institutional selling outweighed retail buying. Robot-related shares including Yuil Robotics, Robotis and Clobot gained sharply. Overseas sentiment was weaker after Brent crude settled above $100 a barrel and the 10-year U.S. Treasury yield reached its highest intraday level since November 2023.

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