[Edaily Reporter PARK MIN ] On the 11th, the KOSPI fell by more than 2% during the trading session, dropping below the 7,000 mark, weighed down by a sharp rise in international oil prices and rising U.S. Treasury yields. Investor sentiment in the domestic stock market is believed to have deteriorated due to a confluence of external headwinds, including oil prices breaking through the $100-per-barrel mark amid escalating military tensions between the U.S. and Iran, and the yield on the 10-year U.S. Treasury note approaching 5%.

According to MP Doctor, as of 1:12 p.m. today, the KOSPI is trading at 6,853.07, down 2.57% (180.85 points) from the previous trading day. After falling to 6,811.37 early in the session, the index has been fluctuating within a narrow range around the 6,850 level without managing to mount a significant rebound.

By investor type, foreign investors have recorded net sales of 1.924 trillion won, while institutions have recorded net sales of 1.3506 trillion won; retail investors, meanwhile, are showing net purchases of 2.1228 trillion won. Although share buybacks by SamsungElectronics and SK hynix—which have supported the market’s bottom in recent times—and net purchases by other corporations are continuing today, they appear insufficient to stem the index’s decline. As of this writing, other corporations are recording net purchases of 1.2 trillion won.

Top-market-cap stocks are falling across the board in the wake of last night’s sharp decline in tech stocks on the New York Stock Exchange. SamsungElectronics(005930)is trading at 257,500 won, down 4.28% from the previous trading day, while SK hynix(000660)is trading at 1,781,000 won, down 3.89%. SamsungElectronics(1P)(005935)(-5.07%), SKSQUARE(402340)(-5.46%), and other semiconductor and holding company stocks have plummeted by around 5%.

In addition, leading stocks in major sectors—such as LG Energy Solution(373220)(-3.15%), HyundaiMotor(005380)(-2.70%), SAMSUNG BIOLOGICS(207940)(-1.19%), and SamsungElectroMechanics(009150)(-1.14%)—are also showing weakness. In contrast, KB Financial Group(105560), whose defensive nature and expectations for margin improvement have come to the fore amid rising interest rates, rose 2.83%, maintaining a standout upward trend as the sole bright spot among large-cap stocks.

At the same time, the KOSDAQ Index is trading at 817.92, down 2.27% (19.00 points) from the previous trading day, with losses widening. In the KOSDAQ market, foreign investors are net sellers of 309.3 billion won, while institutional investors are net sellers of 114.9 billion won; retail investors are net buyers of 417.6 billion won. In the KOSDAQ market, only 515 stocks rose, while 1,120 stocks fell across the board.

Even the top-market-cap stocks on the KOSDAQ are unable to escape the downward trend. Alteogen Inc.(196170)is trading at 265,500 won, down 4.15%, while leading secondary battery stocks such as ECOPRO BM CO., LTD.(247540)(-7.25%) and ECOPRO CO., LTD(086520)(-4.14%) have plummeted. WONIK IPS Co.,Ltd.(240810)(-7.15%), JUSUNG ENGINEERING Co.,Ltd.(036930)(-4.30%), LEENO Industrial Inc(058470)(-3.75%), Rainbow Robotics(277810)(-3.34%), SIMMTECH Co., Ltd.(222800)(-2.69%), EO Technics Co., Ltd.(039030)(-2.31%), and ROBOTIS(108490)(-1.08%)—selling pressure continues in semiconductor materials, parts, and equipment stocks as well as robotics stocks.

By sector, financial and defensive sectors—expected to benefit from rising interest rates—stood out. The property and casualty insurance sector rose 4.37%, driven by a broad-based rally in stocks such as SamsungFire&MarineInsurance(000810)(+6.03%), Hyundai MARINE & FIRE INSURANCE CO.,LTD(001450)(+3.77%), Hanwha General Insurance Co.,Ltd.(000370)(+3.22%), Korean Reinsurance Company(003690)(+3.09%), and DB INSURANCE(005830)(+2.85%).

Conversely, sectors hit hard by the surge in tech stocks and oil prices saw their losses widen. The semiconductor and semiconductor equipment sectors took the hardest hit, plunging 4.21%, while oil and gas (-4.18%), electronics (-3.60%), electrical appliances (-3.23%), and biotechnology (-3.14%) also ranked among the top decliners.

Han Ji-young, an analyst at KIWOOM Securities, said, “Although the KOSPI briefly fell below the 7,000-point mark during yesterday’s session, it is noteworthy that the index recovered its losses and closed above the 7,000-point level for the second consecutive trading day,” adding “While short-term volatility could widen again through next week depending on the August CPI results, as long as the figures do not deviate significantly from the consensus, the 7,000-point level is likely to continue its transition into a support line,” she said.