KOSPI Fluctuates Around 2400 Level... When Will It Stabilize?

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] On the 27th, the KOSPI index is fluctuating around the 2400 level due to selling pressure from foreigners and institutions. The KOSDAQ index is showing a slight upward trend as funds flow in from individual investors.

As of 11:19 AM, the KOSPI index stood at 2399.79, down 13.17 points (0.55%) from the previous trading day. The index opened at 2412.52, down 0.44 points (0.02%) from the previous close, then widened its losses and is currently engaged in a tug-of-war around the 2400 level. Individuals were net buyers worth approximately 223.6 billion KRW, while foreigners and institutions were net sellers of about 140.6 billion KRW and 56.6 billion KRW, respectively.

Among the top market capitalization stocks, most showed weakness except for Samsung Biologics (1.09%) and LG Chem (0.35%). LG Energy Solution, which is releasing its 6-month lock-up shares today, recorded the largest drop at 2.79%. This was followed by Kia (-2.67%), Samsung SDI (-2.13%), Hyundai Motor (-1.28%), SK Hynix (-1.19%), Kakao (-1.10%), Naver (NAVER) (-0.61%), and Samsung Electronics (-0.49%).

By sector, pharmaceuticals rose the most, up 1.20%. This was followed by paper and wood (0.51%) and telecommunications (0.40%). On the other hand, transportation equipment (-1.44%), textiles and apparel (-1.17%), medical precision (-1.11%), and electrical and electronics (-0.93%) sectors declined.

At the same time, the KOSDAQ index rose 2.62 points (0.38%) to 792.55 compared to the previous trading day. The KOSDAQ index started trading at 789.16, down 0.77 points (0.10%) from the previous close, but then reversed to an upward trend and recovered above the 790 level. Individuals led the index rise with net purchases worth about 10.4 billion KRW, while foreigners and institutions were net sellers of approximately 2.6 billion KRW and 7.6 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare and Celltrion Pharm rose 2.02% and 1.94%, respectively. Conversely, Pearl Abyss (-1.35%), Kakao Games (-1.09%), Chunbo (-0.69%), EcoPro BM (-0.68%), L&F (-0.53%), Studio Dragon (-0.53%), and Alteogen (-0.15%) showed weakness. HLB remained flat.

Park Kwang-nam, a researcher at Mirae Asset Securities, explained, "Ahead of the U.S. Federal Open Market Committee (FOMC) meeting, there has been no significant movement so far," adding, "Whether the KOSPI stabilizes around the 2400 level will ultimately depend on the signals coming from the FOMC."

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