KOSPI Rises 1.4% to 2620 on Eased US Tightening Pressure

The KOSPI index closed higher for the fourth consecutive trading day as foreigners and institutions both showed net buying dominance.

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On the 14th, the KOSPI index closed at 2,628.30, up 37.07 points (1.43%) from the previous trading day. The index opened at 2,607.47, up 16.24 points (0.63%), and then extended its gains. Although individuals sold about 1.33 trillion KRW worth, foreigners and institutions bought net amounts of approximately 588.7 billion KRW and 775 billion KRW, respectively.

Among the top market capitalization stocks, POSCO Holdings rose 3.59%, SK Hynix 3.42%, Hyundai Motor 2.46%, NAVER 2.40%, Samsung Electronics 2.09%, LG Chem 1.49%, Kia 1.37%, and Samsung SDI 0.14%. Samsung Biologics fell 0.53%, and LG Energy Solution remained flat.

By sector, securities (2.48%), steel & metals (2.38%), insurance (2.26%), finance (1.87%), and paper & wood (1.81%) showed strong performance. Meanwhile, medical precision (-0.97%), electric & gas (-0.92%), and machinery (-0.74%) declined.

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "Following the June U.S. Consumer Price Index (CPI), the slowdown in the Producer Price Index (PPI) confirmed a stabilization in inflation, which restored risk appetite." He added, "The won-dollar exchange rate also fell by more than 10 won during the session, sustaining won strength." He continued, "The dollar index fell below 100, hitting its lowest level since April 2022, reflecting eased concerns about further tightening by the Federal Reserve (Fed). Foreigners and institutions maintained net buying of KOSPI for four consecutive trading days, driving the index higher."

On the day, the won-dollar exchange rate closed at 1,265.8 won, down 8.2 won from the previous day. This is the first time in about five months since February 14 that the closing rate fell into the 1,260 won range. The U.S. June CPI rose 3.0% year-on-year, below market expectations, and the June PPI increased only 0.1% year-on-year, lower than the forecasted 0.4%, fueling claims that the Fed's monetary tightening policy is nearing its end.

The KOSDAQ index also closed higher at 896.28, up 3.21 points (0.36%) from the previous day. Individuals and foreigners bought net amounts of approximately 91.7 billion KRW and 21.7 billion KRW, respectively, while institutions sold about 107.1 billion KRW net.

Among the top market capitalization stocks, Celltrion Healthcare rose 4.21%, EcoPro 3.35%, L&F 1.79%, Celltrion Pharm 1.48%, POSCO DX 1.19%, and Pearl Abyss 0.94%. On the other hand, JYP Ent. fell 3.79%, HLB dropped 0.95%, and EcoPro BM remained flat.

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