Despite speculation about a potential rate hike by the Federal Reserve, the KOSPI index opened lower on November 11.
According to the Korea Exchange, the KOSPI started at 5,209.71, down 29.42 points (0.56%) from the previous trading day.
In the securities market, individuals and institutions sold a net 23.9 billion won and 50.2 billion won, respectively, while foreign investors purchased a net 85.5 billion won.
Among the top market capitalization stocks, fluctuations were mixed. Samsung Electronics fell 0.05%, SK Hynix dropped 0.08%, SK Square decreased 0.13%, while LG Energy Solution rose 1.06%.
At the same time, the KOSDAQ index opened at 668.48, up 0.87 points (0.13%) from the previous day. In the KOSDAQ market, individuals sold a net 17 billion won, while foreign investors and institutions bought a net 15.2 billion won and 1 billion won, respectively.
Most of the top market capitalization stocks in KOSDAQ saw gains, including Alteogen (up 2.21%), EcoPro (up 4.46%), EcoPro BM (up 4.06%), JUSUNG Engineering (up 6.50%), and Wonik IPS (up 4.24%).
On the previous day, U.S. markets reacted to the October Consumer Price Index (CPI), which exceeded market expectations, alongside comments from Federal Reserve Governor Christopher Waller that raised concerns about a potential rate hike.
Before the CPI announcement, Waller noted that if the core CPI rises around 0.3% or more, stronger policy measures may be necessary. The actual core CPI met Waller's conditions, intensifying tightening concerns.
Seo Sang-young, an executive at Mirae Asset Securities, stated, "The Korean stock market is expected to open lower due to a surge in government bond yields, prompting selling. The possibility of a 50 basis point rate hike by the Fed in December is likely to trigger profit-taking after the previous day's surge."
Han Ji-young, a researcher at Kiwoom Securities, analyzed, "Today, the domestic market is likely to give back some of the previous day's gains of over 4% due to the rise in U.S. 10-year Treasury yields following the October CPI exceeding market expectations, along with concerns over export controls to China, influenced by Jensen Huang's comments on NVIDIA."
* This article has been translated by AI.
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