The KOSPI and KOSDAQ indexes are fluctuating in the flat range at the beginning of trading on the 17th. The continued high yields on Government Bonds in the U.S. have reduced risk appetite, and the drop in semiconductor indexes is also seen as negative news.
As of 9:10 a.m. on that day, the KOSPI index recorded a decrease of 8.15 points (0.26%) from the previous trading day, standing at 3178.51. At the same time, the KOSDAQ index showed an increase of 0.09 points (0.01%) to 812.14 compared to the previous day.
In the securities market, individuals are net buying securities worth 122.4 billion won, while foreign and institutional investors are net selling 81.7 billion won and 50.6 billion won, respectively. In the KOSDAQ market, individuals are net buying 76.1 billion won, with foreign and institutional investors having a selling advantage of 73.6 billion won and 4.5 billion won, respectively.
Among the top 10 market capitalization stocks in the securities market, all except SK hynix and Hanwha Aerospace are rising. The drop in SK hynix is interpreted as a result of the steep decline in the stock price of Dutch semiconductor company ASML, which also caused the Philadelphia semiconductor index to fall by 0.39%.
On the same day, the second-quarter earnings results of Taiwanese semiconductor company TSMC will also be announced. Amid concerns over a deteriorating earnings outlook for ASML, should TSMC's earnings outlook also worsen, it is analyzed that the correction range for semiconductor stocks could widen.
Last night, the New York stock market experienced a roller coaster, initially declining on speculation that Chairman Powell would soon be dismissed, only to rebound after U.S. President Donald Trump denied the dismissal plan. The Dow Jones Industrial Average rose by 0.53%, the Standard & Poor's 500 index increased by 0.32%, and the Nasdaq index also climbed by 0.25%, reaching a record high.
Lee Seong-hoon, a researcher at Kiwoom Securities, noted, "Today's domestic stock market is expected to reflect the impacts of reduced risk appetite due to the high level of U.S. bond yields, along with the shock from ASML's steep decline amid downward revisions in tariff-related earnings forecasts," and added, "The rotation flow among existing leading stocks that had shown a clear upward rally in the first half of the year is expected to continue despite the limited direction of the stock market."