[Edaily Reporter Shin Ha-yeon ] The KOSPI opened slightly flat on the 16th and has been fluctuating within a narrow range. Overnight, U.S. stock markets fell across the board amid caution ahead of the September Federal Open Market Committee (FOMC) meeting and pressure from rising international oil prices and U.S. Treasury yields; the domestic stock market is also showing a wait-and-see attitude as it digests macroeconomic uncertainties.

According to MP Doctor as of 9:09 a.m. on the 16th, the KOSPI is trading at 6,629.62, up 2.35 points (0.04%) from the previous trading day. The index opened at 6,611.24, down 0.24% from the previous trading day.

On the 15th (local time), the three major U.S. stock indices in New York all fell. The Dow Jones Industrial Average closed at 52,093.11, down 0.63% from the previous session, the S&P 500 Index closed down 0.45% at 7,585.73, and the tech-heavy Nasdaq Composite Index closed down 0.78% at 25,981.57. In contrast, the Philadelphia Semiconductor Index rose 0.4%.

U.S. stock markets were weighed down by continued caution ahead of the September FOMC meeting, as well as a sharp rise in international oil prices triggered by attacks on Saudi Arabia by Yemeni rebels and delays in U.S.-Iran negotiations. The yield on the 10-year U.S. Treasury note surpassed the 5% mark during the trading session. West Texas Intermediate (WTI) crude oil rose 4.38% to $105.83 per barrel, while Brent crude climbed 2.9% to $108.75.

Han Ji-young, an analyst at KIWOOM Securities, predicted, “Although there is a perception that stocks have been oversold following consecutive corrections this week, the market is expected to remain in a wait-and-see mode today, with the stock market’s rebound momentum limited by the upward pressure on the U.S. 10-year yield and oil prices stemming from macroeconomic uncertainty.”

Han noted, “Stock markets in major countries, including the U.S. and South Korea, are currently showing heightened fatigue due to macroeconomic uncertainty, and the September FOMC meeting scheduled for early tomorrow morning is the event that could alleviate that fatigue.” She added, “Since a rate hike in September is already a known factor, the focus has now shifted to whether the Fed will implement additional hikes at the October or December FOMC meetings.”

However, they noted that it is too early to conclude that the recent weakening of the domestic stock market’s resilience has led to a sustained erosion of its underlying strength. He explained, “The current downward pressure on stock prices is largely driven by heightened market caution resulting from the interplay between uncertainty surrounding the September FOMC and noise regarding a reduction in AI investments,” adding, “Unless the September FOMC delivers a shock—such as a further upward revision to the dot plot—that signals a commitment to fully launching the tightening cycle, additional downward pressure on the market stemming from the Fed is expected to be limited.”

In terms of supply and demand, retail investors are currently the only net buyers in the stock market, with net purchases totaling 231.6 billion won. Foreign and institutional investors are showing net selling of 235.0 billion won and 47.1 billion won, respectively. Program trading, combining arbitrage and non-arbitrage trades, shows a net selling position of 288.4 billion won.

By sector, IT services, machinery and equipment, and securities are down by around 1%. Following these, most other sectors—including construction, medical and precision instruments, transportation equipment and parts, metals, entertainment and culture, food, beverages, and tobacco, real estate, pharmaceuticals, finance, telecommunications, non-metals, electricity and gas, insurance, paper and wood, and chemicals—are also declining. In contrast, retail, electrical and electronics, and manufacturing are showing slight gains.

Top-market-cap stocks are showing mixed performance. SamsungElectronics(005930)is trading at 249,000 won, down 500 won (0.20%) from the previous trading day. SK hynix(000660)is trading at 1,706,000 won, up 16,000 won (0.95%).

Elsewhere, SamsungElectroMechanics(009150)(-0.38%) and LG Energy Solution(373220)(1.92%) are rising, while SKSQUARE(402340)(-0.10%), HyundaiMotor(005380)(-1.09%), SAMSUNG BIOLOGICS(207940)(-0.78%), and KB Financial Group(105560)(-0.46%) are falling.

At the same time, the KOSDAQ Index is trading at 802.13, down 10.51 points (1.27%) from the previous trading day. In terms of market sentiment, foreign and institutional investors are net sellers by 62 billion won and 4.8 billion won, respectively, while retail investors are net buyers by 67.1 billion won.

Among the top market-cap stocks, Alteogen Inc.(196170)(-2.12%), ECOPRO CO., LTD(086520)(-0.53%), ECOPRO BM CO., LTD.(247540)(-0.65%), JUSUNG ENGINEERING Co.,Ltd.(036930)(-0.16%), Rainbow Robotics(277810)(-1.73%), and EO Technics Co., Ltd.(039030)(-1.01%) are all down.