Expectations for 'Inflation Peak-Out'... KOSPI and KOSDAQ Show Strong Early Trading Gains of Over 1%

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jaehee] The KOSPI and KOSDAQ indices are showing strong gains of over 1% from the start of trading. This is attributed to the expanded expectations of an 'inflation peak-out' following the release of the US Consumer Price Index (CPI) the previous day, which came in below forecasts.

As of 9:10 AM on the 11th, the KOSPI index stands at 2,511.66, up 1.24% (30.78 points) compared to the previous trading day. The KOSPI opened the day at 2,507.74, up 1.08% (26.86 points) from the previous close.

Looking at investor trends, individual and institutional investors bought stocks worth 31.7 billion KRW and 18.3 billion KRW respectively, while foreign investors sold stocks worth 49.1 billion KRW.

All of the top 10 market capitalization stocks are rising. Samsung Electronics is trading at 59,600 KRW, up 0.85% from the previous day. LG Energy Solution (2.29%), SK Hynix (2.18%), NAVER (2.48%), and Kakao (3.11%) are showing strong gains from the start of trading, buoyed by the Nasdaq's rise centered on growth stocks in the US market the previous day. Following are Samsung Biologics (1.01%), LG Chem (1.70%), Samsung Electronics Preferred (0.18%), Samsung SDI (0.82%), and Hyundai Motor (1.04%).

At the same time, the KOSDAQ index is recording 833.55, up 1.62% (13.28 points) from the previous trading day. The index opened at 831.99, up 1.43% (11.72 points) from the previous close.

By investor type, only individual investors sold stocks worth 47.1 billion KRW, while foreign and institutional investors bought stocks worth 20.2 billion KRW and 31.5 billion KRW respectively.

Among the top market capitalization stocks on the KOSDAQ, all are rising except Pearl Abyss (-3.14%), which announced second-quarter earnings below market expectations. Others include Celltrion Healthcare (1.02%), EcoPro BM (1.06%), L&F (3.42%), HLB (2.89%), Kakao Games (3.87%), Celltrion Pharm (0.90%), Alteogen (1.35%), EcoPro (1.68%), and Cheonbo (1.91%).

Seo Sangyoung, Head of Media Content at Mirae Asset Securities, commented, "The US stock market's strength centered on tech stocks amid expectations of an inflation peak-out is positive for our market as well. CitiGroup's diagnosis that the semiconductor sector is showing clear bottom signals, along with the Philadelphia Semiconductor Index rising 4.25%, is also favorable for our stock market."

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