The KOSPI is showing mixed trends around the 6600 level ahead of the September Federal Open Market Committee (FOMC) results. The KOSDAQ is down by over 1%.
According to the Korea Exchange, as of 9:10 a.m., the KOSPI is down 7.52 points (0.11%) at 6619.74. The index opened at 6611.24, down 16.02 points (0.24%) from the previous session. It briefly turned positive around 9:04 a.m. but then returned to a downward trend.
In the securities market, individual investors have made a net purchase of 323.4 billion won, while foreign and institutional investors have sold a net 320.7 billion won and 44.9 billion won, respectively.
Among the top market capitalization stocks, SK Square (-0.10%), Hyundai Motor (-0.54%), Samsung Biologics (-0.35%), and Samsung Life (-0.35%) are all declining. Conversely, Samsung Electronics (0.20%), SK Hynix (1.04%), Samsung Electro-Mechanics (0.38%), LG Energy Solution (2.05%), and KB Financial (0.23%) are rising.
The KOSDAQ index is trading at 803.61, down 8.80 points (1.08%) from the previous session. It opened at 808.37, down 4.04 points (0.50%), and then widened its losses.
In the KOSDAQ market, individual investors have made a net purchase of 103.6 billion won, while foreign and institutional investors have sold a net 100.8 billion won and 3.5 billion won, respectively.
Among the top market capitalization stocks, Alteogen (-2.31%), EcoPro BM (-0.28%), JUSUNG Engineering (-0.52%), Rainbow Robotics (-1.50%), IOTech (-1.01%), Wonik IPS (-1.66%), Rino Technology (-1.56%), and Simtec (-1.91%) are all declining.
Overnight, U.S. stocks fell amid caution ahead of the September FOMC and rising pressures from Treasury yields and international oil prices. The Dow Jones Industrial Average dropped 0.6%, the S&P 500 fell 0.5%, and the Nasdaq Composite declined 0.8%.
The yield on the U.S. 10-year Treasury note is at 4.99%, while the 30-year Treasury yield is at 5.37%. International oil prices have also risen, with West Texas Intermediate (WTI) crude oil priced at $105.3 per barrel.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Currently, major stock markets in the U.S. and Korea are experiencing fatigue due to macroeconomic uncertainties, and the event that could alleviate this fatigue is the September FOMC scheduled for early tomorrow morning. Since the September rate hike is already known, the focus has shifted to whether there will be additional hikes in October or December FOMC meetings."
He added, "Today, the domestic market is expected to show cautious trading due to the upward pressure from rising U.S. 10-year Treasury yields and oil prices, despite perceptions of excessive declines from consecutive adjustments earlier in the week."
He further noted, "The current downward pressure on stock prices is largely due to the uncertainty surrounding the September FOMC and the noise from reduced AI investments, which has temporarily heightened market caution. Unless there is a significant shock indicating a commitment to tightening, such as an upward adjustment in the dot plot at the September FOMC, additional adjustment pressure from the Fed is likely to be limited."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.