In the early part of the session, the KOSPI index, which recovered the 2520 level, returned all of its gains and retreated below the 2500 level. Although political uncertainty eased somewhat after President Yoon Suk-yeol's arrest, drawing funds from foreign investors, the selling pressure from institutional investors expanded ahead of the U.S. consumer price index (CPI) to be announced that evening. In a situation lacking a clear purchasing force, only the shipbuilding stocks that led the recent rally remained strong.
On the 15th, the KOSPI index recorded 2496.81, down 0.59 points (0.02%) from the previous transaction day. The index started at 2511.07, up 13.67 points (0.55%) from the previous day, and briefly increased by more than 1% following the execution of President Yoon's arrest warrant. However, while foreign investors began buying in light of the easing political uncertainty, institutional investors turned to net selling ahead of the U.S. CPI announcement, entering a cautious mode.
On that day, institutional investors net sold 255.3 billion won in the stock market. They exhibited a buying advantage alongside foreign investors in the early part of the session but switched to net selling in the afternoon. Individual investors, in contrast to institutional investors, sold off in the early part of the session but ended the day with a net buying advantage of 119.2 billion won. Foreign investors also net purchased 48.5 billion won. However, KOSPI 200 futures saw net sales of 551.6 billion won.
Bond yields fell slightly as the U.S. producer price index (PPI) for December came in below expectations the previous day. The dollar index, which had crossed the 110 level, also dropped to 109.2, easing inflation concerns. However, the market appeared to focus more on the CPI to be announced that evening. Asian stock markets, including the KOSPI, the Shanghai Composite (-0.40%), the Nikkei 225 (-0.16%), and the Taiwan Weighted Index (-1.42%), showed overall weakness.
Lee Kyung-min, a researcher at the Research Institute of Daishin Securities, said, "Even though the Anti-Corruption and Civil Rights Commission successfully arrested President Yoon without violent conflict, the stock and currency markets showed no special reaction, maintaining a sideways trend," and noted, "Ultimately, to definitively resolve political uncertainty, we must wait for the Constitutional Court's decision."
In the securities market, major stocks showed mixed results. Samsung Electronics fell 0.37%, while SK Hynix rose 1.64%. LG Energy Solution, Samsung Biologics, Hyundai Motor, and Kia also fell. Among the top 10 companies by market capitalization, three stocks rose, while seven declined.
On this day, the strength of the shipbuilding industry continued. Following expectations for increased orders for LNG carriers after the Trump administration took office, stocks like Samsung Heavy Industries, Hanwha Ocean, and HD Hyundai closed higher. Shipping stocks such as HMM, Pan Ocean, and HMM saw strength due to increased freight rates and the Shanghai Container Freight Index (SCFI) in the previous PPI report.
Amid news of emergency orders for power network restoration due to wildfires in Los Angeles, shares of companies like Daehan Electric Wire, Hyosung Heavy Industries, and Sanil Electric rose. Expectations for strong performances from U.S. financial stocks like Goldman Sachs, JP Morgan, and Wells Fargo also boosted shares of Korean Financial Group, Shinhan Financial Group, and KB Financial Group.
Lee Jae-won, a researcher at the Research Institute of Shinhan Investment Corp., said, "If the U.S. consumer price index exceeds expectations today, it could exert downward pressure on the stock market due to rising market interest rates," and noted, "TSMC's earnings announcement is also expected to influence fluctuations in the semiconductor sector."
The KOSDAQ index recorded 711.61, down 6.43 points (0.90%) from the previous transaction day. The index opened at 722.16, up 4.12 points (0.57%), but soon turned downward. Growth stocks and the biotechnology sector appeared weak due to interest rate pressures, contributing to downward pressure on the index. On that day, foreign investors net sold 178 billion won in the KOSDAQ market, while individuals and institutional investors net bought 181.2 billion won and 5.7 billion won, respectively.
Among all stocks in the KOSDAQ market, 1,088 stocks fell, while 513 rose. Excluding Ecopro BM and HUGEL, all stocks among the top 10 by market capitalization closed lower. HLB began trading higher following news that it passed the final inspection of production facilities by the U.S. Food and Drug Administration (FDA) for a new liver cancer drug, but later fell back as three issues were highlighted again.
On that day, the closing exchange rate for the won against the U.S. dollar in the Seoul foreign exchange market (as of 3:30 p.m.) recorded 1461.2 won, down 2.0 won from the previous transaction day. This was influenced by interpretations of the U.S. PPI for December, which came in below expectations, resulting in a slight decline in bond yields. The dollar index, which shows the value of the dollar against six major currencies, fell to 109.214 after surpassing the 110 level, down 0.34%.