'Up and Down' KOSPI, Firm Above 2350... Cautious Ahead of US CPI and FOMC

On the 11th, dealers are working in the Hana Bank dealing room in Jung-gu, Seoul, as the KOSPI opened at 2,357.43, up 6.82 points (0.29%) from the previous trading day. On the same day, the won-dollar exchange rate started trading at 1,297.0 won, down 3.4 won from the previous trading day. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Myunghwan Lee] On the morning of the 11th, the KOSPI continued its firm tone, moving around the 2350 level. Ahead of the U.S. June Consumer Price Index (CPI) announcement on the 13th and the Bank of Korea's Monetary Policy Committee (MPC) meeting, investors appear to be adopting a wait-and-see stance.

As of 10:50 a.m., the KOSPI stood at 2348.98, down 0.07% (1.63 points) from the previous trading day. The KOSPI opened at 2357.43, up 0.29% (6.82 points) from the previous day, and has maintained a firm tone since.

By investor type, individual investors were net buyers with 86.9 billion KRW, while foreigners and institutions sold 9.6 billion KRW and 81.1 billion KRW respectively.

Top market capitalization stocks in the KOSPI showed mixed movements. Samsung Electronics traded at 59,100 KRW, up 0.68% (400 KRW) from the previous day, returning above the 59,000 KRW level. Kakao rose 0.42% (300 KRW) to 72,100 KRW, re-entering the top 10 in KOSPI market capitalization. Other gainers included ▲LG Energy Solution (1.16%) ▲Samsung Biologics (0.85%) ▲Samsung Electronics Preferred (0.19%) ▲Hyundai Motor (1.40%). Conversely, secondary battery-related stocks such as LG Chem (-3.89%) and Samsung SDI (-2.42%) fell sharply. Naver (NAVER) (-2.01%) and SK Hynix (-0.42%) also declined.

By sector, Medical Precision rose 6.33%, showing a notable uptrend. This is interpreted as related stocks benefiting from the resurgence phase of COVID-19. Pharmaceuticals also increased by 1.23%. On the other hand, Transportation & Warehousing (-2.63%) and Chemicals (-2.14%) declined.

At the same time, the KOSDAQ index stood at 768.13, up 0.22% (1.65 points) from the previous day. The KOSDAQ opened at 767.89, up 0.18% (1.41 points), and has been trading sideways since.

By investor type, individual investors were net buyers with 114.6 billion KRW, while foreigners and institutions were net sellers of 96.3 billion KRW and 18.5 billion KRW respectively.

Among the top market capitalization stocks in KOSDAQ, Seegene stood out with a 6.82% (3,050 KRW) rise to 47,750 KRW. This is presumed to be due to investor expectations amid the COVID-19 resurgence. ▲Celltrion Healthcare (0.70%) ▲HLB (1.99%) ▲Celltrion Pharm (0.38%) ▲Studio Dragon (1.36%) also rose. Conversely, Alteogen fell 2.50%, showing a significant decline. Pearl Abyss (-2.09%), EcoPro BM (-1.51%), and L&F (-1.07%) also declined.

By sector in KOSDAQ, similar to KOSPI, the pharmaceutical sector rose 1.54%, showing the largest gain. Transportation Equipment & Parts (0.85%) and Leisure & Culture (0.78%) also rose. General Electric & Electronics (-1.36%) and Non-metallic Minerals (-1.09%) declined.

The firm tone in the market today is attributed to investors' wait-and-see stance ahead of the U.S. June CPI announcement and the Bank of Korea MPC meeting. Ji-young Han, a researcher at Kiwoom Securities, advised, "After the U.S. June CPI announcement, there is a possibility that the market's interpretation of the inflation trajectory and the Federal Reserve's tightening intensity could change rapidly. Since volatility in the stock market expanded after the May CPI shock, it is a priority in market response to confirm this event and then adjust positions accordingly."

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