KOSPI Starts Lower, Turns Up to Rise 0.22%... Above 2580 Level

Despite selling pressure from foreigners and institutions, the KOSPI index is showing an upward trend.

As of 9:22 a.m. on the 22nd, the KOSPI index was trading at 2,588.42, up 5.79 points (0.22%) from the previous trading day. The index started the day down 6.98 points (0.27%) at 2,575.65 but then turned upward. Individuals bought stocks worth approximately 20.2 billion KRW, while foreigners and institutions sold stocks worth about 300 million KRW and 18.2 billion KRW, respectively.

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Among the top market capitalization stocks, LG Energy Solution (1.79%), Naver (NAVER) (1.47%), Samsung Electronics (0.71%), and SK Hynix (0.52%) rose in that order. Hyundai Motor fell 0.98%, and Kia also showed weakness with a 0.36% decline.

By sector, insurance (0.56%), services (0.77%), electrical and electronics (0.71%), and services (0.36%) showed strength. Machinery fell 1.43%, followed by transportation equipment (-0.97%), securities (-0.61%), construction (-0.57%), and distribution (-0.36%).

On the 21st (local time), the U.S. stock market closed lower following hawkish remarks by Jerome Powell, Chair of the U.S. Federal Reserve (Fed). The Dow Jones Industrial Average fell 102.35 points (0.30%) to 33,951.52, the large-cap S&P 500 index dropped 23.02 points (0.52%) to 4,365.69, and the tech-heavy Nasdaq index declined 165.10 points (1.21%) to 13,502.20.

Chairman Powell testified before the House Financial Services Committee, stating, "The majority of FOMC members believe there will be two rate hikes this year." He also said, "Inflation has somewhat eased since mid-last year," but added, "Inflationary pressures remain high, and there is still a long way to go to bring it down to the 2% price stability target."

At the same time, the KOSDAQ index also turned upward, showing gains. It recorded 878.86, up 3.16 points (0.36%) from the previous trading day. The index started down 4.91 points (0.56%) at 870.79. Individuals and foreigners bought about 1.4 billion KRW and 19.2 billion KRW worth of stocks, respectively, while institutions sold a net 10.3 billion KRW.

Among the top market capitalization stocks, L&F (1.63%), Celltrion Healthcare (1.47%), Pearl Abyss (0.99%), and Celltrion Pharm (0.91%) rose in that order. EcoPro (-1.18%), JYP Ent. (-0.52%), and EcoPro BM (-0.38%) declined.

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