KOSPI Starts Lower, Absorbs Selling Pressure... Expected to Continue Slight Fluctuations

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 1st, the domestic stock market started lower.

The KOSPI index opened down 3.60 points at 3195.67 (0.11%↓). The KOSDAQ index started the session down 0.24 points at 1038.09 (0.02%↓).

As of 9:12 AM, the KOSPI turned to an increase, rising 0.01% to 3199.67, and the KOSDAQ also turned to an increase, up 0.06% to 1038.96.

In the early session, individuals and foreigners are showing net buying dominance. Individuals are buying approximately 35.2 billion KRW and 50.8 billion KRW in the KOSPI and KOSDAQ markets, respectively. Foreigners have a net buying dominance of 65 billion KRW in the KOSPI market but a net selling dominance of 34.9 billion KRW in the KOSDAQ market. Institutions have a net selling dominance of 93.7 billion KRW and 11.9 billion KRW in the two markets, respectively.

Seosangyoung, a researcher at Mirae Asset Securities, said, "The U.S. stock market showed weakness due to disappointing economic indicators and fluctuated around the flat line, which is likely to increase the possibility of profit-taking following the strong rise in the Korean stock market the previous day." He added, "Considering that the Korean stock market may also show this tendency, it is expected that after a decline at the start, there will be a process of digesting sales centered on individual companies."

Meanwhile, on the 31st (U.S. Eastern Time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed down 39.11 points (0.11%) at 35,360.73. The large-cap focused Standard & Poor's (S&P) 500 index closed down 0.13% at 4522.68. The tech-heavy Nasdaq index recorded a 0.04% decline to 15,259.24. These two indices fell slightly one day after both hit record highs. In contrast, the small- and mid-cap focused Russell 2000 index rose 0.34% to 2273.77.

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