KOSPI Starts Lower in Early Trading, Then Moves to Slight Gains

LG Energy Solution and LG Chem Show Strong Performance

[Asia Economy Reporter Kwangho Lee] The KOSPI index is moving in a flat range in the early session. It started lower but turned to a strong flat trend.

As of 9:13 AM, the KOSPI index is trading at 2,354.25, up 4.06 points (0.17%) from the previous trading day. The index opened at 2,348.04, down 2.15 points (0.09%) from the previous close, but then shifted to a strong flat trend.

Foreigners and institutions net bought 16.8 billion KRW and 9.9 billion KRW, respectively. Individuals were net sellers with 25 billion KRW. In the Seoul foreign exchange market, the KRW/USD exchange rate opened at 1,239 KRW, down 4.5 KRW from the previous close, and is moving around 1,240 KRW in the early session.

[Image source=Yonhap News]

Among the top market capitalization stocks, Samsung Electronics (-0.99%), SK Hynix (-0.23%), Hyundai Motor (-0.61%), NAVER (-2.29%), and Kakao (-0.98%) are declining. LG Energy Solution (2.91%), Samsung Biologics (0.37%), LG Chem (2.24%), and Samsung SDI (1.17%) are showing strength.

By sector, non-metallic minerals (1.48%), construction (0.82%), and transportation & warehousing (0.61%) are rising, while services (-0.42%), telecommunications (-0.37%), and securities (-0.33%) are weak.

At the same time, the KOSDAQ index rose 1.58 points (0.23%) to 702.79. The index opened at 700.16, down 1.05 points (0.15%) from the previous day, but also shifted to a strong flat trend.

Foreigners and institutions net sold 13.6 billion KRW and 16.4 billion KRW, respectively. Individuals were net buyers with 31.9 billion KRW.

Among the top market cap stocks, Ecopro BM (1.23%), L&F (2.91%), and Ecopro (1.08%) are rising, while Celltrion Healthcare (-0.68%), HLB (-0.32%), and Kakao Games (-0.89%) are declining.

Declining sectors include non-metallic (-0.54%), paper/wood (-0.47%), digital content (-0.34%), internet (-0.33%), and information devices (-0.25%). Rising sectors include chemicals (1.22%), entertainment & culture (1.12%), machinery & equipment (0.79%), medical & precision instruments (0.75%), and general electrical & electronics (0.71%).

The securities industry expects that since the US stock market showed strength centered on tech stocks amid a weaker dollar due to a slowdown in the labor market and falling Treasury yields overnight, it will have a favorable impact on the Korean stock market as well.

Sangyoung Seo, a researcher at Mirae Asset Securities, analyzed, “Tesla surged as expectations for earnings and potential demand increase were highlighted, which is expected to lead the strength of related stocks in the Korean stock market. Additionally, the KRW/USD exchange rate is expected to stay below 1,240 KRW, indicating continued won strength, which is also positive for foreign demand.”

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