Domestic Stock Market Starts 'Slightly Firm' Then Mixed... 50 Trillion Won Measure's Effect Lasts 'One Day'

On the 24th, the KOSPI opened at 2248.26, up 35.14 points (1.59%) from the previous trading day, at the Hana Bank dealing room in Jung-gu, Seoul. The won-dollar exchange rate started at 1430.0 won, down 9.8 won from the previous trading day. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market showed mixed trends after starting slightly higher on the 25th.

The KOSPI index was trading at 2,234.26 as of 9:05 a.m., down 1.90 points (0.08%) from the previous day. Individuals showed a net buying preference worth 35.2 billion KRW, and institutions also bought about 6.2 billion KRW, while foreigners were net sellers with about 41.4 billion KRW.

The KOSDAQ index rose 1.56 points (0.23%) to 690.06. Individuals were net buyers of 15.5 billion KRW, but foreigners and institutions were net sellers of approximately 11.1 billion KRW and 4.6 billion KRW, respectively.

The U.S. stock market closed higher across the board the previous day, reflecting expectations for earnings from major big tech companies such as Alphabet and Microsoft, as well as hopes for a slowdown in the Federal Reserve's tightening pace.

Political uncertainty in the UK eased as news broke that Rishi Sunak, former UK Chancellor of the Exchequer, was appointed as the new Prime Minister just three days after former Prime Minister Liz Truss resigned, stabilizing investor sentiment.

However, concerns in the bond market persist following the default incident at Legoland in Gangwon Province, triggered by the failure to sell some bonds issued by top-tier companies such as Korea Gas Corporation and Incheon Urban Corporation the previous day, leading to a cautious stance in the domestic stock market.

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