KOSPI Beats Powell, Turns Upward During Session

On the 3rd, as the U.S. Federal Reserve (Fed) took a more hawkish stance than the market expected, the domestic stock market also started lower. This is a view of the Hana Bank dealing room in Jung-gu, Seoul. On that day, the KOSPI opened at 2297.45, down 39.42 points (1.69%) from the previous trading day, and the won-dollar exchange rate started at 1425.3 won, up 7.9 won. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji Yeon-jin] The KOSPI index turned to an upward trend on the afternoon of the 3rd. Although the domestic stock market showed a downward trend due to the sharp decline in the U.S. stock market following Federal Reserve Chairman Jerome Powell's remarks that the upper limit of the benchmark interest rate would rise, the market rebounded as foreign investors expanded their buying spree.

As of 2:51 PM on the day, the KOSPI index was trading at 2,342.08, up 5.70 points (0.24%) from the previous day. Foreign investors, who switched to buying in the afternoon, were net buyers of 43.2 billion KRW, and individuals were also net buyers of about 374.6 billion KRW. On the other hand, institutions sold about 448.9 billion KRW worth of stocks.

Samsung Electronics reversed to an intraday rise and is showing a firm trend, and Samsung Biologics also succeeded in rebounding. LG Energy Solution continues a strong trend with a 3% rise, while Samsung SDI and LG Chem are up about 2%. Meanwhile, SK Hynix is down about 1%, and Hyundai Motor, Kia, and NAVER are also showing a downward trend.

The KOSDAQ index is recording 695.46, down 1.94 points (0.27%). Individuals and foreign investors are net buyers of about 63.8 billion KRW and 28.5 billion KRW respectively, while institutions are net sellers of about 86.1 billion KRW.

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