[E-Daily Reporter PARK MIN ] The KOSPI, which opened lower on the 21st amid a resurgence in U.S. long-term Treasury yields, is holding steady in positive territory, buoyed by strength in the top two semiconductor stocks. In particular, SK hynix—which had led the KOSPI’s rise the previous day after announcing a large-scale stock buyback plan—maintained its upward momentum as buying interest continued to pour in today.

In contrast, non-semiconductor sectors were weak, and the KOSDAQ fell more than 4%, dropping below the 800 mark for the first time in nine trading days. During the session, a “sell-side sidecar”—a temporary suspension of program sell orders—was triggered due to fluctuations in the KOSDAQ 150 futures price and the spot index. This marks the 32nd sidecar in the KOSDAQ market this year and the 14th on the sell side.

◇ KOSPI Ends Slightly Higher as Samsung INICS Corporation Rises Over 3%

According to MP Doctor, as of 1:10 p.m. today, the KOSPI is trading at 6,911.30, up 0.86% (58.72 points) from the previous trading day. Although it fell to 6,742.44 early in the session, it subsequently managed to turn positive, rising to 6,939.21 during the session and regaining the 6,900 level.

In terms of supply and demand, foreign investors led the index higher with net purchases of 180.1 billion won, while retail investors and domestic investors are net sellers of 843.9 billion won and 123.9 billion won, respectively. Although most sectors are down, buying interest in the top two semiconductor stocks— SamsungElectronics(005930), and SK hynix(000660) —is helping to shore up the index.

At this time, SK hynix is trading at 1.75 million won, up 3.49%, continuing the strong performance of large-cap semiconductor stocks. SamsungElectronics is trading at 279,250 won, up 3.04% from the previous trading day, while SamsungElectronics(1P)(005935)has surged 7.74% to 206,000 won, widening its gains.

In contrast, SamsungElectroMechanics(009150)fell 5.44% to 1.32 million won, while LG Energy Solution(373220)(-2.93%) and SAMSUNG BIOLOGICS(207940)(-1.78%) also posted losses.

At the same time, on the KOSDAQ, selling pressure is spreading across the biotech, secondary battery, semiconductor equipment, and robotics sectors—which had recently shown strength—causing them to fall across the board. The index is trading at 800.44, down 4.81% (40.45 points) from the previous trading day.

The KOSDAQ, which opened lower today at 824.05—down 2.0% (16.84 points)—has been fluctuating within a narrow range, dipping as low as 795.57 during the session. Notably, around 10:05 a.m. today, a sell-side “side car” was triggered due to fluctuations in the KOSDAQ 150 futures price and the spot index, temporarily suspending the effectiveness of program buy orders for five minutes.

In terms of market participants, retail investors made net purchases of 517.8 billion won, taking advantage of the lower prices. In contrast, foreign and institutional investors are weighing on the index with net sales of 252.1 billion won and 266.9 billion won, respectively. Notably, at this time, 1,475 stocks are down, while only 211 are up, indicating a clear selling bias.

Alteogen Inc.(196170), the company with the largest market capitalization, is trading at 314,500 won, down 7.36% from the previous trading day. In addition, most biotech stocks, including HLB INC.(028300)(-2.26%), Peptron, Inc.(087010)(-2.90%), ABL Bio Inc.(298380)(-9.21%), PharmaResearch(214450)(-3.26%), and SAM CHUN DANG PHARM CO. LTD(000250) (-7.66%), were all down across the board.

ECOPRO CO., LTD(086520) ECOPRO BM CO., LTD.(247540)also extended their losses, falling 6.24% and 7.45%, respectively, while , the leading robotics stock, is trading at 453,500 won, down 3.82%. Selling pressure also continued in semiconductor equipment stocks, with down 7.64%, down 6.47%, and down 4.22%. Rainbow Robotics(277810) WONIK IPS Co.,Ltd.(240810) LEENO Industrial Inc(058470) EO Technics Co., Ltd.(039030)

◇U.S. 30-Year Treasury Yield Rises Again to the 5% Range

Overnight on the New York Stock Exchange, all three major indices fell as U.S. 30-year Treasury yields surged again and international oil prices rose. Although the U.S. Treasury Department launched a surprise Treasury buyback program to stem the sharp rise in long-term Treasury yields, the effect did not last more than a day.

The Dow Jones Industrial Average closed at 52,759.21, down 703.84 points (1.32%) from the previous session, while the S&P 500 closed at 7,641.16, down 66.82 points (0.87%). The tech-heavy Nasdaq Composite Index closed at 26,067.17, down 263.93 points (1.00%) from the previous session.

The biggest factor weighing on the New York stock market that day was the renewed rise in U.S. Treasury yields. Although yields had temporarily stabilized the previous day after the U.S. Treasury announced it would expand the scale of its long-term Treasury buyback program, they resumed their upward trend just one day later.

The yield on the 30-year U.S. Treasury note rose by about 4 basis points (1 bp = 0.01 percentage point) from the previous session to 5.24%. The yield on the 10-year Treasury note, which serves as a benchmark for U.S. interest rates, also rose by 5 basis points to 4.70%.

In contrast, the Philadelphia Semiconductor Index (SOX), which comprises major semiconductor stocks, held up relatively well, closing at 11,800.02, up 61.79 points (0.53%). SK hynix American Depositary Receipts (ADRs) listed on the U.S. stock market rose 4.43%, while Micron Technology rose 3.97%. Memory chipmakers Micron and SK hynix both posted gains of around 4%.

Han Ji-young, an analyst at KIWOOM Securities, said, “Although the domestic stock market opened lower—influenced by the Nasdaq’s weakness due to rising U.S. interest rates and Walmart’s disappointing earnings, despite the strength of the Philadelphia Semiconductor Index driven by companies like Micron—sector-specific performance is expected to unfold based on foreign investor sentiment.”

She added, “Although macroeconomic uncertainty is high, the fact that the KOSPI currently has solid earnings momentum is a source of relief,” and predicted, “Considering that the market has secured its own domestic buffers—such as the increasing likelihood of shareholder returns from SamsungElectronics following SK hynix—the pressure for stock price corrections that could result from future macroeconomic uncertainty will be limited.”