KOSPI Closes Lower Amid Caution Over US Powell's Jackson Hole Speech

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The KOSPI index closed lower as risk asset caution increased ahead of the Jackson Hole Conference by Jerome Powell, Chairman of the U.S. Federal Reserve (Fed).

On the 25th, the KOSPI index closed at 2,519.14, down 18.54 points (0.73%) from the previous day. Trading volume was 569.86 million shares, and the trading value was tentatively estimated at 8.1912 trillion KRW.

By investor type, institutions and foreigners sold net amounts of 175.4 billion KRW and 191.7 billion KRW respectively, while individuals bought net amounts of 381 billion KRW. Program trading saw net selling of 17.4 billion KRW in arbitrage trading and 262.9 billion KRW in non-arbitrage trading.

The New York stock market fell the previous day amid caution that Chairman Powell might deliver hawkish signals at the Jackson Hole Conference. Particularly, a weak market centered on tech stocks was observed, and on this day, semiconductor and artificial intelligence (AI) related stocks also declined on the KOSPI.

However, despite the overall market sentiment being subdued, some thematic stocks such as food and beverages and cosmetics showed strength due to the issue of Japan's contaminated water discharge.

By sector, more sectors declined. The service industry fell 2.77%, machinery -1.28%, electrical and electronics -1.13%, manufacturing -0.71%, electricity and gas -0.67%, construction -0.6%, pharmaceuticals -0.47%, transportation equipment -0.46%, securities -0.36%. On the other hand, insurance rose 1.29%, textiles and apparel 1.26%, and food and beverages 1.25%.

Most of the top market capitalization stocks were also weak. Samsung Electronics fell 1.61%, SK Hynix -3.64%, Samsung Biologics -0.79%, POSCO Holdings -0.35%, LG Chem -0.53%. Conversely, LG Energy Solution rose 2.06%, and Samsung SDI also increased by 0.17%.

The KOSDAQ index recovered above the 900 mark during the session but turned weak again to close lower. On this day, the KOSDAQ index closed at 899.38, down 2.6 points (0.26%) from the previous day. By investor type, institutions sold net 97 billion KRW, while foreigners and individuals bought net 59.4 billion KRW and 30.8 billion KRW respectively.

Among the top market capitalization stocks, EcoPro BM rose 2.7%, L&F 6.78%, POSCO DX 13.7%, HLB 0.17%, and SM 0.75% showed strength. Conversely, EcoPro remained at -0.16%, Celltrion Healthcare -0.61%, JYP Ent. -0.36%, and Pearl Abyss -1.53% declined.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1,325.2 won, up 2.6 won from the previous day.

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