[Edaily Reporter Kim Kyung-eun ] The KOSPI is trading lower in early trading on the 2nd. Although the New York stock market rose slightly overnight, investor sentiment remains subdued amid ongoing concerns over U.S. Treasury yields and caution ahead of the September employment report. Profit-taking pressure is also mounting following the index’s sharp rise of nearly 2% the previous day.

According to MP Doctor, as of 9:10 a.m. today, the KOSPI is trading at 6,949.40, down 30.04 points (0.43%) from the previous trading day. The index opened at 6,938.27, down 33.08 points (0.47%) from the previous close, and has remained in a slightly flat range.

By investor type, retail investors are net buyers of 162.7 billion won, while foreign and institutional investors are net sellers of 160.9 billion won and 39.8 billion won, respectively.

By sector, chemicals, telecommunications, and metals are showing strength, while construction, securities, retail, and real estate are trading lower.

The top two stocks by market capitalization are both down. SamsungElectronics(005930)is trading at 273,000 won, down 3,000 won (1.09%) from the previous trading day. SK hynix(000660)is trading at 1,832,000 won, down 1,000 won (0.05%) from the previous close.

In addition, SKSQUARE(402340)(-0.69%), SamsungElectroMechanics(009150)(-0.96%), HyundaiMotor(005380)(-1.00%), Samsung Life Insurance(032830)(-0.53%), and SAMSUNG C&T CORPORATION(028260)(-2.02%) are trading lower. On the other hand, LG Energy Solution(373220)(1.25%), SAMSUNG BIOLOGICS(207940)(0.28%), and KB Financial Group(105560)(1.51%) are trading higher.

Long-term U.S. Treasury yields are cited as a drag on the stock market. Overnight, the yield on the 10-year U.S. Treasury note surged to 5.36% during trading, driven by rising European yields amid concerns over France’s fiscal situation and a sharp spike in the price index of the U.S. Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI). Subsequently, the upward trend subsided following dovish remarks by Jefferson, Vice Chair of the U.S. Federal Reserve (Fed), and the yield fell back to around 5.24%.

Market attention is now focused on the U.S. September employment report, which is due out tonight. The market expects September job gains to slow to 100,000, down from 162,000 in August. Analysts note that since the U.S. 10-year Treasury yield has risen rapidly from 5.0% to the 5.3% range in just about two weeks, employment data in line with market expectations could serve as a factor to slow the pace of interest rate hikes.

Han Ji-young, an analyst at KIWOOM Securities, predicted, “Stock prices are likely to show limited upward momentum as some profit-taking occurs due to the U.S. September employment data and a wait-and-see attitude during the domestic holiday period.”

At the same time, the KOSDAQ index is trading at 899.86, up 5.57 points (0.62%) from the previous trading day. The KOSDAQ opened at 893.22, down 1.07 points (0.12%) from the previous close, and has been fluctuating since then. At one point during the session, it rose to 903.81, breaking above the 900 mark.

By investor type, retail investors recorded net sales of 24.8 billion won, foreign investors net sales of 10.5 billion won, and institutional investors net purchases of 37.3 billion won.

The top two KOSDAQ stocks by market capitalization are both on the rise. Alteogen Inc.(196170)is trading at 265,500 won, up 500 won (0.19%) from the previous close. ECOPRO CO., LTD(086520)is trading at 89,100 won, up 4,000 won (4.70%).

In addition, ECOPRO BM CO., LTD.(247540)(2.01%), JUSUNG ENGINEERING Co.,Ltd.(036930)(1.35%), and Rainbow Robotics(277810)(0.34%) are all on the rise. WONIK IPS Co.,Ltd.(240810)(-1.95%), EO Technics Co., Ltd.(039030)(-3.19%), and HPSP Co., Ltd.(403870)(-4.49%) are among those on the decline.