KOSPI Index Turns Up... KOSDAQ Declines

Foreign Selling... Samsung Electronics and SK Hynix Weakness

On the 8th, the KOSPI index showed a slight decline. This is analyzed to be influenced by the mixed performance of the New York stock market due to Federal Reserve (Fed) officials' remarks hinting at interest rate hikes.

On the 7th, the KOSPI index opened at 2718.17, up 41.54 points (1.55%) from the previous trading day, as dealers were working in the Hana Bank dealing room in Jung-gu, Seoul. On the same day, the won-dollar exchange rate started trading at 1356.5 won, down 6.3 won from the previous trading day. Photo by Kang Jin-hyung aymsdream@

As of 9:41 a.m. that day, the index stood at 2,735.67, up 1.49 points (0.05%) from the previous trading day. The index started at 2,732.11, down 2.25 points (0.08%) from the previous day, but then turned upward.

Individuals and institutions are net buyers of 15.2 billion KRW and 45.4 billion KRW respectively, while foreigners are net sellers of 52.6 billion KRW.

Top market capitalization stocks are showing mixed trends. Samsung Electronics (-0.49%) and SK Hynix (-0.89%), which surged the previous day, are declining, while Samsung Biologics (1.66%), LG Energy Solution (0.38%), and Kia (0.09%) are rising. KB Financial Group is recording a 3.52% increase.

At the same time, the KOSDAQ index is at 867.71, down 3.38 points (-0.40%) from the previous trading day. Foreigners and institutions are selling 102.9 billion KRW and 5.4 billion KRW respectively, while individuals are the sole net buyers with 124.7 billion KRW.

Among the top market capitalization stocks, only Alteogen (0.06%), Enchem (0.96%), and EO Technics (0.20%) are rising. EcoPro BM (-0.90%), HLB (-0.86%), EcoPro (-0.70%), LignoTech (-2.35%), and HPSP (-1.17%) are declining.

The three major indices of the U.S. New York stock market closed mixed near the flat line the previous day. The New York stock market, which started with gains on expectations of interest rate cuts, paused due to Fed officials' remarks hinting at interest rate hikes.

On the 7th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average, centered on blue-chip stocks, closed at 38,884.26, up 31.99 points (0.08%) from the previous trading day. The S&P 500, focused on large-cap stocks, rose 6.96 points (0.13%) to 5,187.7, while the Nasdaq, centered on technology stocks, fell 16.69 points (0.1%) to 16,332.56.

Ji-won Kim, a researcher at KB Securities, said, "The stock market showed mixed performance as expectations for interest rate cuts within the year, maintained by attention to weakening employment and Fed Chair Jerome Powell's remarks excluding rate hikes, diverged. The Dow index rose for five consecutive trading days but its upward momentum slowed, and the domestic stock market needs to prepare for profit-taking pressure following the sharp rise the previous day."

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