Stable firm trend amid exchange rate decline... LG Energy Solution 'waiting' ahead of MSCI inclusion

On the 4th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2714.83, up 7.01 points (0.26%) thanks to buying pressure from foreigners and institutions. The KOSDAQ started at 888.51, down 3.09 points (0.35%). The won-dollar exchange rate opened at 1202 won, down 4.4 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market, which started higher on the 8th, is showing a firm upward trend despite slightly giving up some gains in the afternoon. The market sentiment is favorable as the won-dollar exchange rate declines, but cautious trading continues ahead of LG Energy Solution's inclusion in the MSCI index on the 14th of this month.

As of 1:30 PM, the KOSPI index was trading at 2,764.63, up 19.57 points (0.71%) from the previous day. Institutions recorded net purchases of 65.5 billion KRW, while individuals showed net sales of 61.9 billion KRW. Foreigners were net sellers with 2.8 billion KRW.

The net buying volume remaining below 100 billion KRW is analyzed to be due to mixed supply and demand ahead of LG Energy Solution's MSCI index inclusion on the 14th. Lee Kyung-min, a researcher at Daishin Securities, said, "There seems to be a certain degree of cautious sentiment ahead of LG Energy Solution's MSCI inclusion on the 14th," adding, "Although the decline in the won-dollar exchange rate is favorable during the session, the KOSPI surpassing the 2,750 level is creating a cautious atmosphere rather than a clear directional trend."

In fact, LG Energy Solution (0.18%) surged more than 4% in early trading but gave up most of the gains in the afternoon. Meanwhile, Samsung Biologics surged 6.68% following news that the U.S. is imposing export restrictions on Chinese biopharmaceutical companies.

Most large-cap stocks that showed gains in the morning turned to losses. LG Chem (-1.72%) and Samsung SDI (-1.76%) fell more than 1%, while NAVER (-0.76%), Hyundai Motor (-0.80%), and Kakao (-0.68%) also showed weakness.

The KOSDAQ index rose 3.11 points (0.35%) to 902.51. Individuals and institutions were net buyers with 122.4 billion KRW and 14.1 billion KRW respectively, while foreigners were net sellers with 122.3 billion KRW.

Top KOSDAQ gaming stocks such as Kakao Games (6.60%), Wemade (6.44%), and Pearl Abyss (3.40%) are showing sharp gains. Celltrion Healthcare (2.71%) and Celltrion Pharm (2.09%) are also on the rise. EcoPro BM, which surged sharply in early trading, turned to losses with a -1% return, and L&F (3.12%) gave up some of its gains.

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