KOSPI and KOSDAQ Extend Gains... Top Market Cap Stocks Surge Together

Expectations Reflecting a Slowdown in Interest Rate Hikes

[Asia Economy Reporter Minji Lee] Following a significant rise in the U.S. stock market last week, the KOSPI opened with a strong upward trend.

As of 9:13 a.m. on the 24th, the KOSPI stood at 2248.53, up 1.6% (35.41 points) from the previous trading day. The index started the day at 2248.26, rising 1.59% (35.14 points) compared to the previous session.

The KOSPI is also showing an upward trend in response to the positive performance of the U.S. stock market. KB Securities analyst Ilhyuk Kim stated, “The Federal Reserve (Fed) is weighing the pace of interest rate hikes, and expectations of a slowdown in rate increases are a positive factor for the stock market rebound. Until the release of the October Consumer Price Index (CPI) on the 10th of next month, the likelihood of such concerns arising is low, and the market, having entered an oversold zone, will likely continue a short-term rebound centered on growth stocks.”

The driving force behind the KOSPI’s rise was institutional investors. Institutions alone purchased stocks worth 121.9 billion KRW, while individuals and foreigners sold stocks worth 109.2 billion KRW and 45.8 billion KRW, respectively.

Looking at the top market capitalization stocks, all showed strong gains. Samsung Electronics (1.97%), LG Energy Solution (1%), SK Hynix (2.43%), Samsung Biologics (1.18%), Samsung SDI (0.32%), LG Chem (1.58%), Hyundai Motor (0.3%), NAVER (1.81%), and Kia (0.15%) all rose.

At the same time, the KOSDAQ index stood at 690.83, up 2.42% (16.35 points) from the previous trading day. The index opened at 686.43, up 1.77% (11.95 points), showing a significant upward trend. Regarding investor activity, foreigners and institutions bought stocks worth 8.7 billion KRW and 29.3 billion KRW, respectively, while individuals sold stocks worth 35.6 billion KRW.

Among the top market capitalization stocks on KOSDAQ, all showed sharp rises. Ecopro BM (0.47%), Celltrion Healthcare (2.5%), L&F (3.83%), HLB (2.99%), Ecopro (1.5%), Kakao Games (4.35%), Pearl Abyss (2.35%), Celltrion Pharm (3.01%), Cheonbo (2%), and Lino Industrial (1.7%) all recorded strong gains.

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