Domestic Stock Market Weakens on US April CPI Exceeding Expectations... KOSPI Down 1%

[Asia Economy Reporter Lee Jung-yoon] The US Consumer Price Index (CPI) for April rose 8.3% compared to the same period last year, exceeding the expected 8.1%, and as the US stock market plunged, the domestic stock market is also showing a downward trend.

The KOSPI index recorded 2,566.00 at 9:15 a.m. on the day, down 26.27 points (1.01%) from the previous day. The KOSPI index opened at 2,569.50, down 22.77 points (0.88%) from the previous day. Individuals net bought about 107 billion KRW, while foreigners and institutions net sold about 53.6 billion KRW and 56.2 billion KRW, respectively.

The decline in the KOSDAQ index was even greater. At the same time, the KOSDAQ index stood at 849.46, down 16.88 points (1.95%) from the previous day. Individuals bought about 71 billion KRW, while foreigners and institutions net sold about 32.7 billion KRW and 37.9 billion KRW, respectively.

Currently, the domestic stock market is showing a weak trend alongside the US stock market plunge due to the impact of the US April CPI announcement. After the April CPI announcement on the 11th (local time), the Nasdaq index, centered on technology stocks, recorded 11,364.24, down 373.43 points (3.18%). The Dow Jones Industrial Average closed at 31,834.11, down 326.63 points (1.02%) from the previous session, and the Standard & Poor's (S&P) 500 index closed at 3,935.18, down 65.87 points (1.65%).

Seo Jung-hoon, a researcher at Samsung Securities, said, "The low valuation level of the domestic stock market is a downside support factor," but added, "However, considering the ongoing macroeconomic uncertainties, a rebound is not easy." He continued, "Even if responding with bargain buying from a mid- to long-term perspective, it is necessary to maintain a thorough divided approach."

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