US Adjusts Interest Rate Hike Pace... KOSPI Trades Around 3150 Early Session

Foreigners Continue Net Selling

[Asia Economy Reporter Minji Lee] The KOSPI is showing an upward trend in the early trading session.

At 9:16 a.m. on the 30th, the KOSPI stood at 3,148.66, up 0.47% (14.76 points) from the previous trading day. The index started the day strong, rising 0.86% (26.97 points) to 3,160.87 compared to the previous day. Looking at investor trends, individual and institutional investors bought stocks worth 8.7 billion KRW and 78 billion KRW respectively, while foreign investors sold stocks worth 91.6 billion KRW.

The index was expected to rise today, supported by market-friendly remarks from Fed Chair Powell at the Jackson Hole meeting. He reduced market uncertainty by setting the tapering timeline within the year and indicated that it might take more time before interest rate hikes, signaling a pace adjustment.

Han Ji-young, a researcher at Kiwoom Securities, said, “With risk appetite recovering thanks to Chair Powell’s remarks, the market is expected to attempt a return to the 3,200 level early this week. However, since the market has not fully digested concerns about delayed economic recovery and peak corporate earnings, attention should be paid to the results of Korea’s August exports and the U.S. ISM manufacturing index released during the week, as these could slow the upward momentum.”

Looking at the top market capitalization stocks, all are showing gains. Samsung Electronics rose 0.67% to 74,800 KRW compared to the previous day. SK Hynix (0.48%), NAVER (1.07%), Kakao (1.67%), Samsung Biologics (0.53%), LG Chem (0.51%), Samsung SDI (0.65%), and Hyundai Motor (0.72%) also increased.

At the same time, the KOSDAQ index stood at 1,029.84, up 0.62% (6.38 points) from the previous day. It started the day at 1,030.65, up 0.70% (7.14 points). Regarding investor trends, individuals and institutions bought stocks worth 63.5 billion KRW and 8 billion KRW respectively, while foreign investors sold stocks worth 70.7 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (0.81%), EcoPro BM (1.45%), Celltrion Pharm (0.76%), Kakao Games (1.61%), HLB (4.28%), Pearl Abyss (0.22%), and L&F (1.53%) rose, while SK Materials (-0.10%) and Seegene (-0.47%) declined.

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