[Edaily Reporter Kim Yoon-jung] The KOSPI is trading lower in early trading on the 17th. Although international oil prices and the won-dollar exchange rate have fallen, the market appears to be taking a breather as profit-taking in U.S. semiconductor stocks combines with a wait-and-see attitude ahead of the June Federal Open Market Committee (FOMC) meeting.

According to MP Doctor, as of 9:05 a.m., the KOSPI index stood at 8,660.16, down 66.44 points (0.76%) from the previous trading day. The index opened at 8,622.13, down 1.20% from the previous close, and has been trading in the mid-8,600 range.
In terms of market participants, retail investors are net buyers of 7232억원 worth of stocks. In contrast, foreign investors and institutions are net sellers of 5578억원 and 1637억원 worth of stocks, respectively.
Overnight, the New York stock market showed mixed performance as profit-taking selling, centered on tech stocks, emerged. International oil prices (WTI) plunged 5.1% on expectations of a ceasefire agreement between the U.S. and Iran, but semiconductor stocks such as Micron Technology (-6.2%) and Intel (-8.5%) weakened amid caution ahead of the June FOMC meeting. Consequently, the Philadelphia Semiconductor Index fell 5.7%.
The market also views the recent surge in SpaceX-related trading activity as a contributing factor. As SpaceX’s stock price rose for consecutive days, propelling the company into the top five by market capitalization, demand for related exchange-traded funds (ETFs) and options increased, leading to capital outflows from some tech stocks, according to analysts.
Han Ji-young, an analyst at Kiwoom Securities, said, “The domestic stock market is also expected to open lower despite the sharp drop in WTI oil prices and the decline in the won-dollar exchange rate, due to a wait-and-see attitude ahead of the June FOMC meeting and the aftermath of a pullback in U.S. semiconductor stocks.” She added, “In the early trading session, short-term profit-taking could emerge, particularly in semiconductor stocks that surged sharply in the domestic market the previous trading day.”
However, she added, “The overall market environment is currently neutral or better,” noting, “During the session, the market is likely to narrow its losses as rotational trading shifts to other sectors.”
The top KOSPI stocks by market capitalization are showing mixed performance. #Samsung Electronics, the top-ranked stock by market cap, is trading at 333,000 won (-2.92%), while #SK Hynix, ranked second, is trading at 2,371,000 won (-0.46%).
In addition, #SK Square (6.46%), #HD Hyundai Heavy Industries (2.94%), #Samsung Life Insurance (0.58%), and #LG Energy Solution (0.12%) are showing gains. Conversely, #Samsung C&T is trading at 481,000 won (-3.22%), #Samsung Electro-Mechanics at 2,006,000 won (-2.05%), and #Hyundai Motor at 626,000 won (-2.19%).
At the same time, the KOSDAQ index is trading at 1,018.089, up 0.21 points (0.02%) from the previous trading day.
In the KOSDAQ market, retail investors are net buying 69.6 billion won worth of stocks, while foreign and institutional investors are net selling 69.6 billion won and 7.1 billion won worth of stocks, respectively.
Among the top market-cap stocks, #Alteogen (0.43%), #EcoPro BM (0.22%), #Rainbow Robotics (0.49%), and #Juseong Engineering (2.21%) are on the rise. In particular, #Wonik IPS is showing strong momentum, surging 8.97%. On the other hand, #Ecopro (-0.33%), #Kolon TissueGene (-1.33%), #HLB (-1.96%), and #Samchundang Pharmaceutical (-0.38%) are showing weakness.