The KOSPI has reached a record closing high, approaching the 9,000 mark, as investors await the implications of the Federal Open Market Committee's (FOMC) hawkish stance.
On June 17, U.S. stock markets closed lower, with all three major indices declining. The Dow Jones Industrial Average fell by 0.97%, the S&P 500 dropped by 1.21%, and the tech-heavy Nasdaq Composite decreased by 1.34%. Analysts attribute this downturn to the FOMC's more hawkish interpretation than expected, which dampened investor sentiment.
FOMC members had previously indicated in March that they anticipated one rate cut this year, but their revised economic outlook now suggests an expected rate hike instead.
Seo Sang-young, a researcher at Mirae Asset Securities, commented on the FOMC results, stating, "The strong dollar, rising interest rates, and declining stock markets have been observed. However, the indication of potential rate cuts after 2027 suggests that the market impact may be limited."
On the same day, the KOSPI closed at 8,864.24, marking a new record high, just 135.76 points shy of the 9,000 threshold.
As of 8:01 a.m., in the NXT premarket, Samsung Electronics was trading at 345,500 won, down 0.58% from the previous session, while SK Hynix fell 0.16% to 2,517,000 won.
Market analysts predict a short-term consolidation phase due to the FOMC's impact, but they believe that the strong demand for major semiconductor and artificial intelligence stocks, which have been driving the domestic market, will provide support for the index.
Han Ji-young, a researcher at Kiwoom Securities, noted, "The domestic market is expected to start lower due to the hawkish June FOMC and the pressure from five consecutive days of gains. However, considering that the June FOMC did not deviate from the market's shock scenario and that U.S. futures are rebounding, we anticipate that leading stocks, particularly in semiconductors, will show downward support and recover losses during the trading session."
* This article has been translated by AI.
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