KOSPI, US Interest Rate Cut Hopes Boost... Foreigners and Institutions 'Buy'

KOSDAQ Closes Down 0.69%

The domestic stock market closed higher, supported by foreign and institutional 'buying' amid revived expectations of a U.S. interest rate cut due to weak employment data. In contrast, the KOSDAQ market continued to face selling pressure, closing lower.

On the 10th, the KOSPI index rose 0.57% from the previous trading day to close at 2,727.63. The index climbed as much as 0.95%, surpassing the 2,740 level, but gave up some gains before the close.

By investor type, institutions and foreigners were net buyers of 354.6 billion KRW and 147.6 billion KRW, respectively. Individuals were net sellers of 486.3 billion KRW.

Most of the top market capitalization stocks on the KOSPI ended higher. However, LG Energy Solution (-1.29%), Samsung Electronics Preferred (-1.22%), and Samsung Electronics (-0.63%) declined.

Among individual stocks, KB Financial recorded the largest gain, rising 2,700 KRW (3.52%) to 79,300 KRW, followed by SK Hynix, which jumped 4,500 KRW (2.57%) to 179,900 KRW.

The weekly U.S. jobless claims exceeded expectations, fueling hopes for an interest rate cut. As a result, the U.S. stock market closed higher overnight, which is believed to have contributed to the firm tone in the domestic market.

On the same day, the KOSDAQ index closed at 864.16, down 0.69% from the previous session. The index started up 0.39% and rose to 875 during the session but reversed to a decline amid strong selling pressure.

By investor type, institutions and foreigners were net sellers of 63.9 billion KRW and 22.4 billion KRW, respectively, engaging in joint selling. Individuals were net buyers of 100.4 billion KRW, helping to support the index.

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