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KOSPI Holds 7,000 Level Despite Middle East Tensions and Market Volatility
Electronic Technology · Semiconductors · yonhap_finance · 2026-09-10
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The KOSPI index managed to close above the 7,000 mark as corporate share buybacks offset selling pressure driven by rising oil prices and geopolitical risks.
What Happened
Market Overview: The KOSPI index faced significant pressure due to escalating Middle East tensions and rising global oil prices, closing at 7,033.92. Despite heavy selling from foreign investors, strong buying from retail and institutional investors helped the index maintain the 7,000 support level.
Growth Catalysts: Positive sentiment in the semiconductor sector was bolstered by TSMC's record-breaking monthly revenue report. Furthermore, share buyback programs from major players like Samsung Electronics and SK Hynix provided a crucial floor for the index during volatile trading hours.
Macro Headwinds: The market struggled against rising macroeconomic uncertainty, as Brent crude oil prices surpassed $100 per barrel and U.S. 10-year Treasury yields climbed above 4.8%. These factors created a challenging environment for equities, limiting potential gains throughout the session.
Trading Dynamics: Despite the volatility expected from the simultaneous expiration of futures and options, known as 'Triple Witching Day,' and index rebalancing, the market showed resilience. The KOSDAQ index outperformed the KOSPI, finishing the day with a 0.79% gain supported by institutional buying.