[Edaily Reporter Kim Kyung-eun ] The KOSPI, returning from the Chuseok holiday, opened slightly lower on its first trading day. While the New York stock market rebounded during the holiday on expectations of artificial intelligence (AI) investments, the domestic stock market has been unable to sustain the positive momentum due to the burden of surging U.S. Treasury yields and persistently high international oil prices.

According to MP Doctor on the 28th, as of 9:07 a.m., the KOSPI is trading at 7,062.61, down 18.31 points (0.26%) from the previous close. The index opened at 7,057.86, down 23.06 points (0.33%) from the previous trading day, and has been fluctuating since then.

By investor type, retail investors have made net purchases of 65.4 billion won, while foreign and institutional investors are both making net sales of 47.7 billion won and 44.0 billion won, respectively.

Earlier, on the 25th (local time), the New York stock market rose across the board on the strength of AI-related stocks. However, U.S. Treasury yields, which surged during the holiday period, are weighing on the domestic stock market. The yield on the 10-year U.S. Treasury note surpassed 5.22% during trading on the 25th, hitting a 19-year high. Although international oil prices have fallen following Iran’s proposal to reopen the Strait of Hormuz, Brent crude remains at a high level, exceeding $100 per barrel. Concerns over inflation driven by high oil prices and fears of further U.S. interest rate hikes are offsetting expectations of increased AI investment, preventing the KOSPI from maintaining the upward trend seen just before the holiday.

The two stocks with the highest market capitalizations in Korea are also both on a downward trend. SamsungElectronics(005930)is trading at 284,500 won, down 1,000 won (0.35%) from the previous trading day, while SK hynix(000660)is trading at 1,822,000 won, down 40,000 won (2.15%) from the previous close.

In addition, SKSQUARE(402340)(-2.02%), KB Financial Group(105560)(-0.17%), and SAMSUNG C&T CORPORATION(028260)(-2.18%) are all down. On the other hand, SamsungElectroMechanics(009150)(4.18%), LG Energy Solution(373220)(2.13%), HyundaiMotor(005380)(0.42%), and SAMSUNG BIOLOGICS(207940)(1.46%) are all up.

By sector, chemicals, telecommunications, IT services, entertainment and culture, and insurance are showing strength. Securities, retail, electrical and electronics, and manufacturing are showing weakness.

At the same time, the KOSDAQ is trading at 849.49, up 5.01 points (0.59%) from the previous trading day. The index opened at 845.48, up 1.00 point (0.12%) from the previous close, and has continued its upward trend.

By investor type, retail investors and foreign investors have made net purchases of 11.9 billion won and 12.4 billion won, respectively, while institutions have made net sales of 20.2 billion won.

The top two KOSDAQ stocks by market capitalization are also rising in tandem. Alteogen Inc.(196170)is trading at 256,500 won, up 6,500 won (2.60%) from the previous close, while ECOPRO CO., LTD(086520)is trading at 80,800 won, up 700 won (0.87%).

In addition, ECOPRO BM CO., LTD.(247540)(1.52%), SIMMTECH Co., Ltd.(222800)(1.00%), HLB INC.(028300)(29.95%), and FADU INC.(440110)(3.55%) are all on the rise. On the other hand, JUSUNG ENGINEERING Co.,Ltd.(036930)(-0.72%), Rainbow Robotics(277810)(-0.46%), and WONIK IPS Co.,Ltd.(240810)(-5.01%) are declining.

Han Ji-young, an analyst at KIWOOM Securities, said, “The stock market will continue to face uncertainty this week surrounding rising U.S. long-term interest rates,” but added, “We expect the recovery in leadership from AI infrastructure stocks—such as semiconductor stocks driven by Agent AI—to provide upward momentum to the market.” She added, “A strategy of viewing the volatility that may arise as the market processes a series of major domestic and international events—including Micron’s earnings report, export data, and employment figures—all concentrated toward the end of the week as an opportunity to increase equity exposure is expected to remain effective.”