KOSPI Rises Over 1% on US-Driven Optimism... Recovers to 2520 Level

The KOSPI recovered to the 2520 level as it started higher following a sharp rise in the U.S. New York stock market.

Yonhap News

As of 9:55 a.m. on the 16th, the KOSPI stood at 2529.90, up 33.09 points (1.33%) from the previous trading day. The index opened at 2528.27, up 1.26% from the previous day. Early in the session, foreign investors' net buying pushed it up to 2534.01, regaining the 2530 level.

In the New York stock market, the blue-chip-focused Dow Jones Industrial Average (Dow) closed at 43,221.55, up 703.27 points (1.65%) from the previous trading day. The large-cap S&P 500 index rose 107 points (1.83%) to 5,949.91. The tech-heavy Nasdaq index ended trading at 19,511.23, up 466.84 points (2.45%).

Market relief spread as the core Consumer Price Index (CPI) inflation rate slowed unexpectedly. The December core CPI, excluding volatile food and energy, rose 0.2% month-over-month. This matched market expectations of 0.2% and was a slowdown from the previous month's 0.3%. This fueled expectations for interest rate cuts by the Federal Reserve (Fed).

Seonghoon Lee, a researcher at Kiwoom Securities, said, "The U.S. stock market improved investor sentiment amid a sharp drop in U.S. Treasury yields as core CPI slowed," adding, "Big tech stocks like Tesla, Nvidia, and Apple surged, leading the three major indices to close higher."

By investor type, foreigners and institutions were net buyers of 254.2 billion KRW and 74.1 billion KRW, respectively. In contrast, individuals were net sellers of 323.8 billion KRW.

By sector, batteries and electronics rose 2.29%, while pharmaceuticals, medical & precision instruments, insurance, and chemicals all gained more than 1%. Meanwhile, transportation equipment & parts declined slightly.

Among the top market capitalization stocks, Samsung Electronics traded at 54,500 KRW, up 800 KRW (1.49%) from the previous day. SK Hynix rose 4.69%, and POSCO Holdings jumped 2.53%. Additionally, LG Energy Solution, Celltrion, and Samsung Biologics all gained more than 1%. Conversely, HD Hyundai Heavy Industries and Hyundai Mobis fell more than 1%.

The KOSDAQ index rose 11.59 points (1.63%) to 723.20 compared to the previous trading day.

By investor type, foreigners and institutions were net buyers of 79.4 billion KRW and 34.2 billion KRW, respectively. Individuals were net sellers of 109 billion KRW.

By sector, pharmaceuticals and electric & electronics rose more than 2%. Chemicals, paper & wood, and machinery & equipment also gained more than 1%. Meanwhile, publishing & reproduction fell 2.26%.

Among the top market capitalization stocks, Alteogen traded at 313,500 KRW, up 10,000 KRW (3.29%) from the previous day. Samchundang Pharmaceutical surged 10.1%, while EcoPro BM and Ligand Chem Bio rose 5.26% and 4.78%, respectively. Conversely, JYP Ent. fell 1.84%.

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