KOSPI Ends Slightly Higher Amid Caution Ahead of Jackson Hole Meeting... KOSDAQ Declines

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] The KOSPI, which started higher on the 26th, closed with a slight gain. It is presumed that investors took a wait-and-see stance ahead of the Jackson Hole meeting. The KOSPI turned downward in the afternoon and closed down by over 0.6%.

On the day, the KOSPI closed at 2481.03, up 0.15% (3.77 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 KOSPI market, individual investors sold stocks worth 254.2 billion KRW alone. Foreigners and institutions were net buyers of 133 billion KRW and 100.5 billion KRW, respectively.

It is estimated that the index's rise was limited due to investors' cautious stance ahead of the Jackson Hole meeting scheduled at 11 p.m. (Korean time) that night. Seokhwan Kim, a researcher at Mirae Asset Securities, reviewed the market by saying, "In the afternoon, ahead of the Jackson Hole meeting, the rise in government bond yields and the strengthening of the dollar triggered a cautious sentiment, causing the gains to be given back."

Top market capitalization stocks in the KOSPI market showed different trends by stock. Samsung Electronics closed at 60,000 KRW, up 0.50% (300 KRW) from the previous day. SK Hynix also finished trading at 95,100 KRW, up 1.42% (1,000 KRW). LG Energy Solution rose 1.42%, showing the largest gain. Additionally, Samsung Electronics Preferred (0.92%), Hyundai Motor (0.78%), and Samsung Biologics (0.24%) closed higher. On the other hand, major internet stocks such as Naver (NAVER) (-1.02%) and Kakao (-0.12%), as well as Samsung SDI (-0.17%), declined.

By industry, indices rose in construction (1.16%), electrical and electronics (0.71%), and transportation equipment (0.60%), while telecommunications (-1.44%), textiles and apparel (-1.18%), and non-metallic minerals (-1.11%) showed weakness.

The KOSDAQ index closed at 802.45, down 0.61% (4.92 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. The decline intensified toward the end of the session.

In the KOSDAQ market, individual investors were net buyers of 108.5 billion KRW alone. Institutional and foreign investors sold 59.8 billion KRW and 57.2 billion KRW, respectively.

Most of the top market capitalization stocks in the KOSDAQ fell. Celltrion Healthcare closed at 71,400 KRW, down 4.03% (3,000 KRW) from the previous day, marking a decline of over 4%. EcoPro (-3.97%), Alteogen (-3.55%), Celltrion Pharm (-3.09%), Kakao Games (-2.25%), and Pearl Abyss (-2.10%) also fell by more than 2%. Studio Dragon (0.92%) and HLB (0.21%) rose.

By KOSDAQ industry, distribution (-1.96%), paper and wood (-1.47%), and general electrical and electronics (-1.40%) declined. Transportation (0.61%), chemicals (0.58%), and non-metallic minerals (0.39%) rose.

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