[Digital Today reporter Sangyeop Oh] The KOSPI fell more than 2 percent in early trade on the burden of rising international oil prices and market interest rates, slipping to the 6,600 level. Foreign investors and institutions moved to sell together, while semiconductor heavyweights such as Samsung Electronics and SK Hynix also showed declines of more than 3 percent.

As of 9:21 a.m. on Sept. 2, the KOSPI was down 172.92 points, or 2.53 percent, from the previous session at 6,662.88. The index opened down 210.33 points, or 3.08 percent, at 6,625.47.

In the main board market, foreigners were net sellers of 255.7 billion won and institutions were net sellers of 254.0 billion won. Retail investors were net buyers of 431.8 billion won.

Most of the top market-cap stocks were also weaker. Samsung Electronics was trading at 253,000 won, down 3.07 percent from the previous session, and SK Hynix was down 3.07 percent at 1,641,000 won.

Elsewhere, SK Square was down 4.97 percent, Hyundai Motor down 4.00 percent, Samsung Electro-Mechanics down 0.98 percent, LG Energy Solution down 1.50 percent, Samsung Biologics down 1.25 percent and Samsung C&T down 0.77 percent.

KB Financial Group, however, was up 0.12 percent.

The KOSDAQ was also weaker. At the same time, it was down 10.06 points, or 1.22 percent, from the previous session at 811.19.

In the Seoul foreign exchange market, the won-dollar exchange rate was at 1,370.90 won, down 4.60 won from the previous session.

Han Ji-young (한지영), a researcher at Kiwoom Securities, said domestic stocks were likely to start weaker on the burden of rising oil prices and interest rates. She said that if intraday bargain hunting flows in and strong business and shipment results for Asian semiconductors are confirmed, losses could narrow around the semiconductor sector.