Impact of US FOMC, KOSPI and KOSDAQ Decline After Opening

KOSPI and KOSDAQ Start Lower
KOSPI and KOSDAQ, Foreign Selling Pressure Expands

[Image source=Yonhap News]

[Asia Economy Reporter Kwangho Lee] On the 15th, the KOSPI and KOSDAQ opened lower. This was due to diminished expectations for early monetary policy easing following the December Federal Open Market Committee (FOMC) results and remarks by Jerome Powell, Chairman of the Federal Reserve (Fed).

As of 9:11 a.m. on the 15th, the KOSPI stood at 2385.99, down 13.26 points (-0.55%) from the previous day. Institutions and individuals were net buyers of 1.2 billion KRW and 57.1 billion KRW, respectively. Foreigners were net sellers of 59.9 billion KRW. In the futures market, foreigners showed a net buying trend of 1.9 billion KRW.

Among the top 10 KOSPI market capitalization stocks, Hyundai Motor (0.92%) and Kia (0.62%) rose. NAVER (-2.07%), SK Hynix (-1.71%), LG Chem (-1.24%), Samsung Electronics (-0.99%), Samsung Electronics Preferred (-0.92%), LG Energy Solution (-0.8%), Samsung SDI (-0.3%), and Samsung Biologics (-0.12%) declined.

Rising sectors included transportation equipment (0.71%), warehousing and transportation (0.69%), and electric and gas utilities (0.62%). Declining sectors were non-metallic minerals (-1.30%), steel and metals (-0.99%), and electrical and electronics (-0.95%).

The KOSDAQ was at 725.95, down 3.05 points (-0.42%) from the previous day. Individuals were net buyers of 36.2 billion KRW. Institutions and foreigners were net sellers of 7.4 billion KRW and 29.3 billion KRW, respectively.

Among the top 10 KOSDAQ market capitalization stocks, Celltrion Pharm (1.61%) and Celltrion Healthcare (0.3%) rose. Rino Industrial (-2.39%), L&F (-1.55%), Pearl Abyss (-1.29%), EcoPro BM (-1.24%), HLB (-1.22%), Kakao Games (-1.12%), Studio Dragon (-0.35%), and EcoPro (-0.08%) declined.

Rising sectors included textiles and apparel (1.16%), communication services (0.78%), and transportation (0.28%). Declining sectors were broadcasting services (-1.51%), semiconductors (-1.24%), other manufacturing (-1.20%), and internet (-1.02%).

In the Seoul foreign exchange market, the USD/KRW exchange rate traded at 1301.8 KRW, up 5.5 KRW from the previous day.

The main reason for the decline in the two major indices is the significant influence from the United States. On the 14th (local time), Jerome Powell, Chairman of the U.S. Federal Reserve, raised the peak interest rate to 5.1%. The unexpectedly hawkish stance caused all three major U.S. indices to fall, putting pressure on the domestic stock market.

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