The KOSPI is rising after overcoming the shock of the Federal Open Market Committee (FOMC) base rate hike in September.
As of 9:10 a.m. on the 18th, the KOSPI was trading up 151.88 points (2.26%) from the previous day at 6,867.29.
Although the Federal Reserve (Fed) raised the base rate at its September FOMC meeting on the 16th (local time), domestic and foreign stock markets are instead finding stability. Major U.S. indices also rose across the board overnight.
On the 17th, the S&P 500 index closed up 85.19 points (1.14%) at 7,637.73 on the New York Stock Exchange, while the NASDAQ Composite Index ended up 439.87 points (1.69%) at 26,418.30. The Dow Jones Industrial Average finished trading up 316.28 points (0.61%) at 51,778.18.
Han Ji-young, a researcher at Kiwoom Securities, forecasted: "Today's domestic market is expected to show an upward trend as it absorbs the Bank of Japan (BOJ) meeting during trading hours amid stability in U.S. 10-year Treasury yields following the September FOMC, a rebound in U.S. stock markets centered on semiconductors, and strong momentum in KOSPI night futures above 2.9%."
On this day, foreign investors and institutional investors purchased net amounts of 148.4 billion won and 196.4 billion won, respectively, in the KOSPI market (based on integration between Korea Exchange and NexTrade). Retail investors sold off a net amount of 405.3 billion won.
Among KOSPI sectors, electricity and electronics rose over 3%, while manufacturing and transportation warehousing gained over 2%. Construction, machinery and equipment, metals, securities, transportation equipment and parts, financials, and medical and precision instruments also rose more than 1%. In contrast, food and tobacco and textiles and clothing showed roughly flat performance.
Among the top market capitalization stocks in KOSPI, Samsung Electronics is showing strong gains over 5%. SK Hynix and SK Square are rising over 3%, while Samsung Electronics and Hyundai Motor are up more than 2%. Hanwha Aerospace and Shinhan Financial Group remain roughly flat, whereas HD Hyundai Heavy Industries is down more than 1%.
The KOSDAQ is currently trading up 7.48 points (0.9%) from the previous day at 829.66.
In the KOSDAQ market, retail investors bought net amounts of 70.1 billion won, while foreign investors and institutional investors sold off net amounts of 64.7 billion won and 4.5 billion won, respectively.
All KOSDAQ sectors except pharmaceuticals, which showed roughly flat performance, are rising. Publishing and media rose more than 2%, while construction, electricity and electronics, machinery and equipment, telecommunications, textiles and clothing, manufacturing, and transportation gained over 1%.
Among the top market capitalization stocks in KOSDAQ, materials, components, and equipment (so-bu-jang) stocks are surging. Juseong Engineering is up over 4%, while Rino Industrial and HPSP are rising over 2%. EcoPro BM and Rainbow Robotics also gained more than 2%. In contrast, PharmResearch and AVL Bio are down more than 1%.
The current won-dollar exchange rate is recording 1,381.4 won, a decrease of 0.1 won from the previous trading day.
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