KOSPI Nears 2400... US Inflation Boost Eases FOMC Concerns

KOSPI and KOSDAQ Close Up 1%
Foreigners and Institutions Expand Supply and Demand in Late Trading
US CPI Below Expectations... "Worst Inflation Passed"

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] On the 14th, both the KOSPI and KOSDAQ closed higher amid expectations of easing inflationary pressures in the United States. In the latter part of the session, combined buying by foreigners and institutions drove the indices. The KOSPI came close to the 2400 mark for the first time in seven trading days, while the KOSDAQ also rose about 2%, approaching the 730 level.

On the 14th, the KOSPI closed at 2399.25, up 1.13% (26.85 points) from the previous day. The KOSPI opened at 2380.81, up 0.35%, then stalled but gained upward momentum in the afternoon.

The supply and demand conditions were favorable. Foreigners and institutions net bought 220.2 billion KRW and 228.4 billion KRW, respectively. Early in the session, foreigners showed caution by switching from buying to selling, but expanded their buying in the afternoon. Notably, they purchased futures worth 182.7 billion KRW. Conversely, individuals net sold 453.3 billion KRW.

Among the top market capitalization stocks, only SK Hynix (-0.61%) closed lower. Samsung Electronics, the largest by market cap, rose 1.34% to close at 60,500 KRW. Samsung SDI (+3.73%) and LG Chem (+3.69%) showed notable gains. Kia (+2.56%), Hyundai Motor (+2.51%), and Samsung Biologics (+2.07%) followed.

By sector, non-metallic minerals (+2.39%), machinery (+2.22%), pharmaceuticals (+1.90%), transportation equipment (+1.81%), chemicals (+1.74%), and services (+1.56%) rose. Within the non-metallic minerals sector, POSCO Chemical (+3.75%) led the gains. Meanwhile, paper & wood (-0.98%), telecommunications (-0.60%), medical precision (-0.40%), and transportation & warehousing (-0.32%) declined.

(Seoul=Yonhap News) Reporter Lee Ji-eun = On the morning of the 1st, news related to Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), who officially announced a slowdown in the pace of interest rate hikes, was coming out in the dealing room of Hana Bank in Jung-gu, Seoul. jieunlee@yna.co.kr (End)

The KOSDAQ opened at 718.17, up 0.42% (3.01 points) from the previous day, and closed at 729.00, up 1.94% (13.84 points). This marks the first time in seven trading days that the KOSDAQ index has settled above the 720 level. Foreigners and institutions net bought 182.7 billion KRW and 109.3 billion KRW, respectively. However, individuals alone net sold 278.8 billion KRW.

Among the top market capitalization stocks, only HLB (-0.91%) and Studio Dragon (-0.23%) declined. EcoPro surged 5.76%, ranking first in gains. It was followed by Pearl Abyss (+3.91%), Celltrion Pharm (+3.32%), Rino Industrial (+3.30%), and Kakao Games (+3.11%).

Experts evaluated that investment sentiment improved due to the slowdown in U.S. inflation. The U.S. Department of Labor announced the previous day that the Consumer Price Index (CPI) rose 7.1% year-on-year, which was below the forecast (7.3%) and last month's figure (7.7%). The core CPI, excluding food and energy prices, also rose 6.0% year-on-year, slowing compared to the forecast (6.1%) and last month (6.3%).

Seo Sang-young, Head of Digital Content Strategy at Mirae Asset Securities, said, "Following the release of the U.S. November CPI, the market rose on relief over easing inflation." He added, "Especially with the strong performance of the Nasdaq index the previous day, rebounds were clear in technology stocks such as gaming, secondary batteries, and semiconductors." He further explained, "The won-dollar exchange rate fell nearly 10 won, strengthening the Korean won, and net buying by foreigners and institutions expanded."

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