The KOSPI halted a four-day decline, rebounding by more than 1%. With the possibility of a rate hike by the U.S. Federal Open Market Committee (FOMC) in September largely priced in, institutional investors made net purchases exceeding 1.4 trillion won, responding to perceptions of an excessive drop following recent declines. Stocks in the semiconductor sector, including Samsung Electronics and SK Hynix, led the index's rise.
On September 16, the Korea Exchange reported that the KOSPI closed at 6,717.97, up 90.71 points (1.37%) from the previous trading day.
The index opened at 6,611.24, down 16.02 points (0.24%), but fluctuated in early trading before turning upward. At one point, it rose to 6,717.97, an increase of 90.71 points (1.37%) from the previous day.
In the securities market, institutions made net purchases of 1.4351 trillion won, while individual and foreign investors sold off 1.6794 trillion won and 1.4130 trillion won, respectively.
Among the top market capitalization stocks, Samsung Electronics rose by 2.01%, SK Hynix by 3.91%, SK Square by 1.80%, Samsung Electro-Mechanics by 4.25%, LG Energy Solution by 0.14%, KB Financial by 0.28%, and Samsung C&T by 1.59%. Conversely, Hyundai Motor fell by 1.50%, Samsung Biologics by 0.21%, and Samsung Life by 0.70%.
The KOSDAQ index closed at 815.98, up 3.57 points (0.44%) from the previous trading day.
In the KOSDAQ market, individuals and institutions made net purchases of 41.9 billion won and 21.4 billion won, while foreign investors sold off 65.5 billion won.
Among the top market capitalization stocks, Alteogen fell by 1.73%, EcoPro by 2.73%, EcoPro BM by 2.24%, Rainbow Robotics by 1.85%, and Roboteers by 5.08%. In contrast, JUSUNG Engineering rose by 4.25%, Wonik IPS by 9.23%, EO Technics by 4.14%, Rino Technology by 2.18%, and Simtec by 3.43%.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The market experienced a decline of about 5.8% (406 points) over four trading days, leading to a perception of excessive short-term losses. The possibility of a 25 basis point hike by the FOMC in September has already been largely reflected in interest rates and stock prices since last week."
He added, "As the market perceives this as a phase of 'pre-event pricing followed by event digestion,' funds that had previously reduced their positions ahead of the results are being reinvested, along with buying to recover from losses. The market's focus is shifting from the rate decision itself to the Summary of Economic Projections (SEP) and language regarding further rate hikes, supporting the sentiment that 'the decision itself is not a surprise.'"
Lee emphasized the need to pay attention to the FOMC results and the level of the SEP, stating, "If the pressure from rising bond yields due to a hawkish stance surpasses its peak, it could strengthen the momentum of the stock market's rebound."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.