Ahead of FOMC, Market Stands Pat... KOSPI Falls to 2730s

On the 30th, the KOSPI slipped to the 2730 level as investors adopted a wait-and-see attitude ahead of the U.S. Federal Open Market Committee (FOMC) meeting and other events.

[Image source=Yonhap News]

On that day, the KOSPI closed at 2738.19, down 27.34 points (0.99%) from the previous trading day. The index opened at 2744.40, down 21.13 points (0.76%) from the previous day, and widened its losses during the session, falling more than 1%. This was attributed to cautious sentiment ahead of the regular FOMC meeting and earnings reports from big tech companies such as Microsoft (MS).

In the securities market, foreigners and institutions sold a net 403.9 billion KRW and 354 billion KRW respectively, while individuals bought a net 728.8 billion KRW. Foreigners also sold a net 554.3 billion KRW in the KOSPI 200 futures market.

Most of the top market capitalization stocks declined. Samsung Electronics (-0.25%), SK Hynix (-3.43%), Samsung Biologics (-0.32%), Hyundai Motor (-2.15%), Kia (-1.85%), KB Financial Group (-1.65%), POSCO Holdings (-0.96%), Shinhan Financial Group (-1.98%), and Naver (-0.97%) all closed lower. LG Energy Solution (1.06%) rose, influenced by Tesla's sharp overnight rally.

Lee Jaewon, a researcher at Shinhan Investment Corp., said, "In this phase of uncertainty, foreign capital outflows were mainly focused on large-cap stocks, leading to a decline in the index. It is necessary to observe the earnings and guidance of big tech and domestic companies, as well as confirm the results of monetary policy meetings including the Bank of Japan (BOJ) and the FOMC."

On the same day, the KOSDAQ index closed at 803.78, down 4.21 points (0.52%) from the previous trading day.

In the KOSDAQ market, foreigners alone sold a net 103.6 billion KRW. In contrast, institutions and individuals bought net amounts of 34 billion KRW and 85.7 billion KRW respectively.

Among the top market capitalization stocks in KOSDAQ, Samchundang Pharm (-0.65%), Enchem (-0.12%), and Hugel (-0.80%) declined. Meanwhile, EcoPro BM (5.22%), Alteogen (7.37%), EcoPro (1.05%), HLB (0.65%), Celltrion Pharm (0.79%), Rigachem Bio (2.76%), and Classys (1.42%) rose.

The won-dollar exchange rate closed at 1385.3 won, up 3.4 won from the previous day.

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