Ahead of the Jackson Hole Meeting, KOSPI's Gains Narrow While KOSDAQ Turns Downward

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] On the afternoon of the 26th, the KOSPI's upward momentum weakened in the market. This is interpreted as investors taking a wait-and-see stance ahead of the Jackson Hole meeting. The KOSDAQ index turned downward in the afternoon session.

As of 2 PM on the day, the KOSPI stood at 2482.11, up 0.20% (4.85 points) from the previous trading day. The KOSPI opened at 2489.14, up 0.48% (11.88 points) from the previous day, maintaining its gains before the upward momentum sharply decreased in the afternoon.

In the securities market, individual investors are selling stocks worth 172.1 billion KRW. Foreigners and institutions are net buyers of 128 billion KRW and 28.9 billion KRW, respectively.

It is estimated that the rise was limited due to investors' cautious stance ahead of the Jackson Hole meeting scheduled for 11 PM (Korean time) on the same day. Lee Kyung-min, a researcher at Daishin Securities, said about the domestic stock market, "With simultaneous net buying by foreigners and institutions, the market rose about 0.3%, attempting to recover the 2500 level in the early session, but the gains gradually narrowed in the afternoon," adding, "The wait-and-see sentiment ahead of Jerome Powell's speech at the Jackson Hole meeting is limiting the upper bound of the stock market."

The top market capitalization stocks in the securities market show varied movements by stock. Samsung Electronics is trading at 60,200 KRW, up 0.84% (500 KRW) from the previous day. SK Hynix is also up 0.85% (800 KRW) at 94,900 KRW. LG Energy Solution (1.53%), Hyundai Motor (1.04%), and LG Chem (0.65%) are also rising. Large internet stocks such as Naver (NAVER) (-0.26%) and Kakao (Kakao) (-0.26%), as well as Samsung SDI (-0.17%), are on the decline.

At the same time, the KOSDAQ index is at 804.31, down 0.38% (3.06 points) from the previous trading day. The KOSDAQ opened at 810.33, up 0.37% (2.96 points) from the previous day, maintaining an upward trend before turning downward in the afternoon session.

In contrast to the KOSPI, individual investors are the sole net buyers in the KOSDAQ market, purchasing stocks worth 108.2 billion KRW. Foreigners and institutions are selling stocks worth 81.3 billion KRW and 31.2 billion KRW, respectively.

Many of the top market capitalization stocks in the KOSDAQ are also declining. EcoPro (-3.17%), Celltrion Healthcare (-3.12%), L&F (-3.11%), Alteogen (-3.10%), and Celltrion Pharm (-2.84%) are all down more than 2%. HLB (1.28%) and Studio Dragon (0.92%) are rising.

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