KOSPI Surges Over 2% Intraday but Ends Lower, Extending Losing Streak to 6 Sessions

The KOSPI rose more than 2% early in the session before turning lower, extending its losing streak to six consecutive trading days. On the 14th, the KOSPI closed at 6,008.81, down 0.44% from the previous session. The index climbed to near the 6,200 mark early in the day but came under pressure in the afternoon.

Behind the reversal was Dutch semiconductor equipment maker ASML. ASML's third-quarter revenue fell short of market expectations, weighing on semiconductor investor sentiment once again. As a result, Samsung Electronics, which had gained early in the session, ended flat, while SK Hynix closed down more than 1%.

Supply and demand dynamics also contributed to the decline. Foreign investors flipped from net buying to net selling, intensifying downward pressure. On the day, foreigners and retail investors each net sold more than 1.1 trillion won and 300 billion won respectively on the main bourse, while institutions net bought over 800 billion won, limiting the index's decline. Caution ahead of the release of the U.S. Consumer Price Index also played a role in the drop.

The KOSDAQ also fell. The tech-heavy index closed at 823.88, down 1.57% from the previous session.

In contrast to the stock market's decline, the exchange rate moved in a stable pattern. In the Seoul foreign exchange market, the won-dollar rate stood at 1,338.3 won as of 3:30 p.m., down 6.8 won from the previous day's daytime close.