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South Korean Stocks Fluctuate on Quadruple Witching Day; Won-Dollar Rate Strengthens to 1,480
South Korean Stocks See Increased Volatility on 'Quadruple Witching Day'
Today (the 12th) marks 'Quadruple Witching Day,' the expiration date for four types of derivatives: stock index futures and options, and individual stock futures and options. This led to significant volatility in the domestic stock market. Large-scale transactions for the settlement of expiring products made stock price prediction difficult. The KOSPI opened down 0.75% at 5,567 but repeatedly swung between gains and losses in early trading. Currently, the index is facing downward pressure due to net selling by foreign investors and institutions, with many top market capitalization stocks, including Samsung Electronics, declining. The KOSDAQ briefly surpassed the 1,140 mark on net buying by individual investors before falling back to the 1,130 level.
Won-Dollar Exchange Rate Rises Amid Surging International Oil Prices
Rising international oil prices are also impacting domestic market volatility. The won-dollar exchange rate, which hovered around the 1,460 won level the previous day, opened today (the 12th) at 1,480 won and continues to show strength, staying near the 1,480 won mark. Despite the International Energy Agency (IEA) announcing a decision to release a record 400 million barrels of strategic reserves, oil prices surged due to escalating tensions in the Strait of Hormuz, Iran's stated intention to blockade the strait, and concerns about a prolonged war. Consequently, the U.S. dollar continues its strong trend, keeping market participants on high alert.
*Source: YouTube: YTN (2026-03-12)*
