KOSPI Holds Steady Around 2590 Ahead of US April CPI Release... KOSDAQ on the Rise

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Ahead of the release of the U.S. Consumer Price Index (CPI) for April, the KOSPI is remaining in a narrow range.

On the 11th, as of 11:11 a.m., the KOSPI index recorded 2,594.64, down 1.92 points (0.07%) from the previous day. The KOSPI index briefly turned upward around 9:18 a.m. but soon showed a downward trend. Since then, it has been alternating between rises and falls. Foreigners and institutions have each net sold about 126.8 billion KRW and 191.3 billion KRW respectively, while individuals have net bought about 304.8 billion KRW, defending the index from falling.

Among the top market capitalization stocks, LG Chem rose 2.79%, showing the largest gain. It was followed by SK Hynix (1.82%), Kakao (1.07%), LG Energy Solution (1.02%), and Samsung Electronics (0.91%). Samsung SDI (-2.19%) and Samsung Biologics (-0.25%) were weak.

By sector, paper & wood (3.29%), medical precision (2.70%), transportation & warehousing (1.78%), and textiles & apparel (0.65%) recorded gains. Insurance (-2.53%), finance (-1.77%), and construction (-1.77%) declined.

At the same time, the KOSDAQ index rose 5.87 points (0.69%) from the previous session to 862.01. The KOSDAQ index opened at 853.73, down 2.41 points (0.28%) from the previous trading day, but then turned upward. However, it rose to 863.30 around 9:26 a.m. but later gave up the gains. Individuals net bought about 58.3 billion KRW, while foreigners and institutions sold about 40 billion KRW and 12.8 billion KRW respectively.

Among the top market capitalization stocks, Lino Industrial rose 3.98%, showing the largest gain. It was followed by Celltrion Healthcare (3.06%), Celltrion Pharm (1.70%), and HLB (1.38%) showing strength. Cheonbo (-1.07%) and EcoPro BM (-0.61%) showed declines.

On the 10th (local time), the New York stock market closed mixed ahead of the U.S. April Consumer Price Index release. The Dow Jones Industrial Average fell 0.26% (84.96 points) to close at 32,160.74. The S&P 500 rose 0.25% (9.81 points) to 4,001.05, and the tech-heavy Nasdaq Composite rose 0.98% (114.42 points) to 11,737.67.

Lee Jae-sun, a researcher at Hyundai Motor Securities, explained, "With the U.S. April Consumer Price Index scheduled, the market is generally in a wait-and-see mode," adding, "Uncertainty and a strong dollar continue, so the foreign demand situation does not seem to have improved yet."

On the same day, in the Seoul foreign exchange market, the won-dollar exchange rate started at 1,277.7 won, up 1.3 won, and during the session surpassed 1,280 won. It was the first time since March 23, 2020, that it exceeded 1,280 won during the session.

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