Early Session Uptrend... Both KOSPI and KOSDAQ Rise Over 1%

Positive Impact from Strong Export-Import Statistics and Chinese Manufacturing Indicators
US Presidential Election Still a Variable... Uptrend May Be Short-Lived

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Both the KOSPI and KOSDAQ started higher. Despite increased uncertainty ahead of the U.S. presidential election, the financial authorities have announced that they will implement market stabilization measures in a timely manner. Additionally, favorable export-import statistics and solid manufacturing indicators from China appear to have had a positive impact.

On the 3rd, the KOSPI opened at 2315.81, up 0.68% (15.65 points) from the previous day. The gains expanded, reaching 2330.63, up 1.32% compared to the previous close, as of 9:33 a.m.

Foreign investors showed strong buying interest, with net purchases of 18.7 billion KRW. In contrast, individual and institutional investors were net sellers of 9 billion KRW and 11.2 billion KRW, respectively.

All sectors were on the rise. The medical precision sector posted the largest gain at 3.13%, followed by chemicals (2.16%), non-metallic minerals (1.74%), pharmaceuticals (1.66%), and steel & metals (1.53%).

Most of the top 10 market capitalization stocks also rose. LG Chem stood out with a 4.3% increase, followed by Celltrion (3.0%), Samsung SDI (2.7%), Samsung Electronics (1.3%), and SK Hynix (1.2%). Only NAVER and LG Household & Health Care declined by 0.7% and 0.5%, respectively.

The KOSDAQ showed a similar trend. It opened at 810.01, up 0.88% (7.06 points) from the previous close, and continued to gain. As of 9:33 a.m., it was up 1.82% at 817.58.

In the KOSDAQ market, foreign investors were net buyers of 1.4 billion KRW, while individual and institutional investors were net sellers of 2.3 billion KRW and 37 million KRW, respectively.

Again, all sectors were rising. The telecommunications equipment sector led with a 3.11% gain, followed by distribution (2.27%), IT hardware (2.27%), IT components (2.17%), and general electrical & electronics (2.15%).

All of the top 10 market capitalization sectors also rose. Celltrion Healthcare posted the largest gain at 3.6%, followed by EcoPro BM (3.5%), Celltrion Pharm (2.8%), Alteogen (2.5%), and Kakao Games (2.0%), with many stocks rising over 2%.

Within the industry, concerns have been raised that this upward trend may be short-lived. Sangyoung Seo, a researcher at Kiwoom Securities, said, "The Nasdaq's weakness, driven by selling pressure mainly on large tech stocks amid concerns over increased regulation in the U.S. stock market, and the still-high uncertainty surrounding the U.S. presidential election are burdensome. The Korean stock market is expected to start higher but will likely see selling pressure as investors await the U.S. election issue. Especially, the fact that uncertainty may expand rather than ease after the election could act as a factor dampening investor sentiment."

This content was produced with the assistance of AI translation services.