KOSPI Falls Ahead of FOMC... Drops to 2500 Level

The KOSPI opened lower ahead of the Federal Open Market Committee (FOMC) meeting. It is interpreted that the decline in the New York stock market on the 15th (local time), due to rising international oil prices and worsening economic indicators, had an impact.

On the 18th, the KOSPI closed at 2,586.94, down 14.34 points (0.55%) from the previous trading day.

On the previous trading day at the New York Stock Exchange, the Dow Jones Industrial Average fell 288.87 points (0.83%) to close at 34,618.24. The S&P 500, centered on large-cap stocks, dropped 54.78 points (1.22%) to 4,450.32. The tech-heavy Nasdaq index closed down 217.72 points (1.56%) at 13,708.33.

The rise in international oil prices and weak U.S. economic indicators had a negative effect. West Texas Intermediate (WTI) crude oil closed at $90.77. Additionally, the University of Michigan Consumer Sentiment Survey showed that inflation expectations fell to 3.1% in September, marking the lowest level since January 2021.

By investor type, foreign investors sold a net 77 billion KRW. In contrast, individuals and institutions bought net 66.1 billion KRW and 13.6 billion KRW, respectively.

By sector, transportation and warehousing, medical precision, insurance, and electrical and electronics sectors fell more than 1%. Meanwhile, steel and metals rose 1.25%.

Among the top market capitalization stocks, Samsung Electronics traded at 71,200 KRW, down 800 KRW (1.11%) from the previous trading day. LG Energy Solution, SK Hynix, LG Chem, NAVER, and KB Financial also fell more than 1%. On the other hand, POSCO Holdings rose 2.23%.

The KOSDAQ closed at 891.77, down 7.26 points (0.81%) from the previous trading day.

By investor type, foreign and institutional investors sold net 27.9 billion KRW and 24.6 billion KRW, respectively. Individuals bought net 63 billion KRW.

By sector, semiconductors and broadcasting media reproduction fell more than 2%. Financials, paper and wood, digital content, and non-metal sectors declined more than 1%. Meanwhile, construction and broadcasting services rose slightly.

Among the top market capitalization stocks, EcoPro BM traded at 277,000 KRW, down 1.07% from the previous trading day. HPSP fell 4.45%, while L&F and Pearl Abyss dropped 2.73% and 1.00%, respectively. EcoPro also declined 1.91%. On the other hand, Rainbow Robotics and Lunit rose more than 1%.

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