KOSPI Recovers Slightly from Intraday Losses to 2920 Level, KOSDAQ at 980 Level

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] In the afternoon, the KOSPI and KOSDAQ indices slightly recovered from their declines but remain in a downward trend.

As of 1:40 PM on the 10th, the KOSPI is trading at 2,928.03, down 0.91%. The KOSDAQ is at 983.74, down 1.15%.

Individual investors continue to be net buyers, while foreign and institutional investors are selling, accelerating the decline in the indices.

Individuals have a net buying advantage of 518.9 billion KRW and 298.8 billion KRW in the KOSPI and KOSDAQ markets, respectively. Foreign investors have a net selling advantage of 94.8 billion KRW and 132.6 billion KRW in both markets, respectively. Institutions are also net sellers with 431 billion KRW and 160.5 billion KRW in both markets, respectively.

The weak sectors in the KOSPI are Textile & Apparel (-3.10%), Chemicals (-2.05%), and Transportation Equipment (-1.80%), while the strong sectors are Food & Beverage (+0.44%), Finance (+0.25%), and Telecommunications (+0.23%).

The weak sectors in the KOSDAQ are Broadcasting Services (-2.71%), IT Components (-2.36%), and Semiconductors (-2.27%), while the strong sectors are Distribution (+1.37%) and Machinery & Equipment (+0.02%).

Jo Byung-hyun, a researcher at Yuanta Securities, stated, "With the release of the December Federal Open Market Committee (FOMC) minutes, concerns are intensifying over the Federal Reserve's (Fed) more radical monetary policy and a tightening monetary policy stance beyond normalization levels. At least at this point, the policy direction is confirmed, but uncertainty about its intensity and pace is significantly expanding. There is a possibility that this will act as a volatility-inducing factor until the timing when the path can be gauged becomes clear."

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