July 13 Market: Energy, Finance, and High-Dividend ETFs Rebound Amid Semiconductor Decline
On July 13, while top semiconductor stocks declined drastically on the KOSPI, oil stocks rose due to increased tensions between the U.S. and Iran, leading to higher oil prices. Financial and high-dividend ETFs performed well.
On July 13, there were significant differences across sectors in the KOSPI market. Leading semiconductor stocks ended sharply lower, resulting in downward pressure on the index.
On the same day, some semiconductor equipment and fab-related stocks continued to show weakness. Reports emerged that the top two semiconductor stocks closed sharply lower.
Wonik IPS announced plans to increase its semiconductor production capacity by up to 2 times next year. This news led to expectations for a reevaluation of Wonik IPS.
With tensions reigniting between the U.S. and Iran, international oil prices rose, leading to gains in oil stocks. The share prices in the oil sector reacted sensitively to the fluctuations in oil prices.
Leisure, culture, and financial stocks showed relatively strong performance amidst the semiconductor weakness. Investor interest shifted towards the financial sector and high-dividend products.
In the ETF market, high-dividend and finance-related products outshone others. It was reported that 7 out of the top 10 ETF returns were related to high-dividend or finance products.
The market closed with mixed trends, showing a divergence in performance among sectors. Investors were seen checking sector-specific news and earnings schedules.