On the 20th, the KOSPI index opened higher. Following a rebound in the U.S. stock market the previous day, a favorable wind is blowing in the domestic stock market.
As of 9:06 a.m. that day, the KOSPI index recorded 2,647.27, up 18.65 points (0.71%) from the previous transaction day. In the main bourse, individuals purchased 8.3 billion won, while foreigners and institutions bought 3.6 billion won and 6.8 billion won, respectively.
The KOSDAQ index is up 3.63 points (0.49%) to 741.98 compared to the previous day. In the KOSDAQ market, individuals are net buying 44.5 billion won, while foreigners and institutions are net selling 1.2 billion won and 40.2 billion won, respectively.
Overnight, the New York stock market rose on the Federal Reserve's outlook for two interest rate cuts within the year. Jerome Powell, the Fed chair, noted that while there are signs of intensified inflation and the possibility of a recession, he is "not overly concerned," which boosted investor sentiment.
On the 19th (local time), the Dow Jones Industrial Average closed at 41,964.63, up 383.32 points (0.92%) from the previous transaction. The Standard & Poor’s 500 index finished at 5,675.29, up 60.63 points (1.08%), while the tech-heavy Nasdaq Composite index closed at 17,750.79, up 246.67 points (1.41%).