The KOSPI climbed above 6,700 in afternoon trading on the 16th as pension funds led institutional buying that offset heavy foreign selling. The index stood at 6,714.21 by 1:20 p.m., up 1.31%, with institutions buying a net 1.05 trillion won and pension funds deploying more than 400 billion won. Samsung Electronics and SK hynix rose 2.01% and 3.49%, respectively, while Samsung Electronics preferred shares gained 4.06% after Life Asset Management proposed prioritizing about 63 trillion won in remaining 2026 shareholder-return funds for preferred-share buybacks and cancellations. The KOSDAQ slipped 0.07% as biotech shares weakened. Investors remained focused on oil above $105 a barrel, the U.S. 10-year Treasury yield above 5.04% and the U.S. Federal Open Market Committee meeting scheduled for early Sept. 17 Korea time.