Despite the U.S. Federal Reserve raising interest rates for the first time in over three years and hinting at further increases this year, the KOSPI index closed slightly lower. Foreign investors sold off more than 2 trillion won, yet the KOSPI managed to maintain its position above 6,700, showing resilience against the hawkish monetary policy.
On September 17, the Korea Exchange reported that the KOSPI fell by 2.56 points (0.04%) to close at 6,715.41. The index opened at 6,779.02, up 61.05 points (0.91%) from the previous session, fluctuating around the 6,770 mark before reversing gains as the trading day ended.
In the securities market, individual and institutional investors bought a net 483.3 billion won and 227.2 billion won, respectively. In contrast, foreign investors sold off 2.4153 trillion won.
Among the top market capitalization stocks, performances were mixed. Samsung Electronics (-0.39%), SK Hynix (-0.80%), SK Square (-1.18%), Samsung Electro-Mechanics (-3.69%), LG Energy Solution (-0.54%), and Samsung Biologics (-0.92%) all saw declines. Conversely, Hyundai Motor (0.28%), KB Financial (1.41%), and Samsung C&T (0.57%) ended the day in positive territory.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The market impact was limited as the possibility of a rate hike had already been largely priced in, and the recent stabilization in international oil prices has contributed to a relatively favorable investment sentiment."
The KOSDAQ index rose by 6.20 points (0.76%) to close at 822.18. It started the day at 820.16, up 4.18 points (0.51%), and continued to expand its gains.
In the KOSDAQ market, individual and foreign investors sold a net 28.5 billion won and 33.1 billion won, respectively, while institutions were net buyers at 47.1 billion won.
Among the top KOSDAQ stocks, Alteogen (-0.59%), EcoPro BM (-1.34%), Wonik IPS (-1.17%), IOTech (-1.18%), and Simtech (-1.91%) declined. In contrast, EcoPro (0.12%), JUSUNG Engineering (0.99%), Rainbow Robotics (1.18%), Rino Technology (0.76%), and Roboteers (0.32%) saw gains.
* This article has been translated by AI.
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