KOSPI Soars 44 Points Early Amid US Consumer Price Inflation Slowdown...

The KOSPI is rising nearly 2%, approaching the 2480 level. This appears to reflect expectations that the interest rate hikes will end following a lower-than-expected U.S. Consumer Price Index (CPI).

On the 15th, dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. / Photo by Jinhyung Kang aymsdream@

As of 9:44 a.m. on the 15th, the KOSPI was trading at 2477.77, up 44.52 points (1.83%) from the previous trading day.

On the 14th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 34,827.70, up 489.83 points (1.43%) from the previous trading day. The S&P 500, focused on large-cap stocks, rose 84.15 points (1.91%) to 4,495.70, and the tech-heavy Nasdaq index gained 326.64 points (2.37%) to close at 14,094.38.

The CPI report released that day was welcomed. According to the U.S. Department of Labor, the October CPI rose 3.2% year-over-year, significantly slowing from the previous month's increase of 3.7%. It also fell short of the 3.3% forecast by experts surveyed by Dow Jones. The October CPI was flat month-over-month, below both the September increase of 0.4% and the market expectation of 0.1%.

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "The U.S. stock market rose on expectations that the Federal Reserve's interest rate hikes have ended due to lower-than-expected inflation data, and that rate cuts may begin next year."

By investor type, foreigners and institutions were net buyers of 27.6 billion KRW and 345.3 billion KRW, respectively. In contrast, individuals were net sellers of 359.2 billion KRW.

Most sectors are rising, with chemicals, transportation equipment, machinery, services, and medical precision all up more than 2%. Construction, steel & metals, transportation & warehousing, and non-metallic minerals are also up more than 1%.

Among the top market capitalization stocks, Samsung Electronics traded at 71,900 KRW, up 1,100 KRW (1.55%). POSCO Future M surged 4.91%, while LG Chem, LG Energy Solution, Kia, and Samsung SDI all rose more than 3%.

The KOSDAQ also rose 15.22 points (1.92%) from the previous trading day to 809.41.

By investor type, individuals were net buyers of 38.7 billion KRW, while institutions and foreigners were net sellers of 38 billion KRW and 2.8 billion KRW, respectively.

By sector, general electronics rose 4.27%, while semiconductors and transportation equipment increased 3.05% and 2.96%, respectively.

Among the top market capitalization stocks, EcoPro BM traded at 261,000 KRW, up 12,000 KRW (4.82%) from the previous day. L&F and Rainbow Robotics rose more than 5%. Additionally, EcoPro, Alteogen, HPSP, and Celltrion Pharm also increased more than 4%.

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