KOSPI Recovers to 2200 Amid US Stock Market Rebound... Samsung Electronics, Naver, and Others Rise

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 14th, the KOSPI started by recovering the 2200 level. This is interpreted as being influenced by the positive momentum in the U.S. stock market.

On this day, the KOSPI opened at 2200.66, up 37.79 points (1.75%). The KOSDAQ also started at 665.17, up 13.58 points (2.08%). Although the New York stock market plunged after the September Consumer Price Index (CPI) exceeded expectations, it then sharply rebounded, riding a rollercoaster, and closed higher.

On the 13th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 30,038.72, up 827.87 points (2.83%) from the previous session. The Standard & Poor's (S&P) 500 index rose 92.88 points (2.60%) to 3,669.91, and the tech-heavy Nasdaq index closed at 16,649.15, up 232.05 points (2.23%). The S&P 500 ended a six-day losing streak and rebounded for the first time in seven trading days.

Seosangyoung, a researcher at Mirae Asset Securities, said, "Although the Nasdaq initially plunged more than 3% due to the release of high inflation data in the U.S., it surged more than 5% from the low after digesting the news, which is expected to have a positive impact on the Korean stock market."

As of 9:20 a.m., the KOSPI fell below the 2200 level again but maintained a rise of over 1.5%. The KOSDAQ is recording an increase of more than 2.5%.

In the early session, individual investors showed net buying but soon switched to net selling. At this time, individuals are net selling about 29.7 billion KRW and 19.1 billion KRW in the two markets, respectively. Foreign investors are buying about 14.8 billion KRW and 29 billion KRW. Institutions have a net buying advantage of 14.9 billion KRW in the KOSPI market but a net selling advantage of 7.3 billion KRW in the KOSDAQ market.

Among the top market capitalization stocks, Naver is rising more than 4%. Samsung Electronics, LG Energy Solution, and LG Chem are each showing stock price increases in the 1% range. SK Hynix, Hyundai Motor, and Kia are also slightly rising.

However, market volatility is expected. The direction is still unpredictable. Researcher Seo said, "The fact that the recession period is approaching quickly is a burden," adding, "The Korean stock market is starting higher, but the direction will likely be determined by changes in the U.S. dollar."

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