KOSPI
A strong gap-up led by semiconductor stocks following OpenAI's new model release faded as surging crude oil (WTI above $93) triggered late-session profit taking amid geopolitical risks, including attacks on Aramco facilities.
Headline
Late-session profit taking on surging oil prices and inflation worries... KOSPI fails to hold 7,000 level
Key Takeaways
- The KOSPI surged to the 7,170 level intraday, topping 7,000 for the first time in 15 trading days, but reversed lower into the close amid Middle East oil shocks and inflation concerns, finishing at 6,954.52 (-0.58%).
- The KOSDAQ underperformed with steepening losses down to 811.88 (-1.25%), weighed down by profit taking in large-cap tech shares and weakening risk appetite.
- U.S. equities paused ahead of the Labor Day holiday as the Nasdaq closed at 26,506.99 (-0.29%), while tightening concerns stemming from strong August employment data and raw material price volatility emerged as key market drivers.
KOSDAQ
Overall sentiment deteriorated by more than 1% due to external oil shocks and rising Treasury yields, concentrating short-term selling pressure on growth, secondary battery, and equipment names.
NASDAQ
While the index underwent a mild pullback on prospects of a sustained hawkish Federal Reserve stance backed by resilient jobs data, solid demand for AI hardware provided underlying downside support.
Today's Watchlist
- Potential further spikes in WTI and Brent crude futures as Middle East geopolitical risks escalate following attacks on Saudi Aramco facilities
- Interest rate trajectory expectations ahead of this week's U.S. August PPI and CPI releases
- Foreign investor appetite for reclaiming the KOSPI 7,000 mark and the sustainability of rotation into semiconductor heavyweights
Risk Note
Spikes in international oil prices fueled by geopolitical risks could reignite inflation concerns and delay monetary easing expectations from global central banks; close monitoring of commodity volatility and yield movements is warranted.
Last updated: 2026-09-08 16:00:16