Despite pressure from U.S. President Donald Trump to lower interest rates, the Federal Open Market Committee (FOMC) decided to maintain rates for the third consecutive time. The domestic market, which had anticipated this, showed no signs of being affected by the interest rate freeze on the 8th. While foreign investors engaged in net buying for two consecutive days, the stock prices of major corporations varied based on their earnings results.
On this day, the KOSPI index closed at 2,579.48, up 5.68 points (0.22%) from the previous trading day, marking three consecutive days of gains. The KOSPI index briefly rose to nearly 2,600 during the day but showed a lack of momentum, leading it to shed some of its gains.
The rise in Samsung Electronics and SK hynix stock prices, which started strong on news of the lifting of U.S. restrictions on artificial intelligence (AI) chip exports, is interpreted as having suppressed the upward momentum of the KOSPI index, which is under pressure. Samsung Electronics closed at the same price as the previous day, while SK hynix fell 0.26% from the prior session.
In the securities market, foreign investors led the index with net purchases worth 130 billion won, while individuals and institutions sold net amounts of 28.6 billion won and 158.5 billion won, respectively.
The stock prices of corporations that announced their preliminary first-quarter results fluctuated. CJ ENM, which announced an operating profit of 700 million won, down 94% compared to the same period last year, saw its stock price plummet immediately after the announcement, ultimately closing at 55,800 won, down about 8% from the previous day.
On the other hand, LIG Nex1 reported an operating profit of 113.6 billion won, exceeding market expectations by 74% for the first quarter of the year. Its stock price hit the upper limit during trading and closed up in the 10% range.
Beauty tech company APR reported an operating profit of 54.6 billion won, exceeding market expectations by 31% for the first quarter of this year, reaching its highest price in the past year. The stock surged to close up 28%. With APR's strong performance, the stock prices of domestic cosmetics-related companies like Jayjun Cosmetic, COSMAX, and Amorepacific Corporation also rose in unison.
On this day, the KOSDAQ index closed at 729.59, up 6.78 points (0.94%) from the previous trading day, marking three consecutive days of gains for the KOSDAQ as well. The KOSDAQ index rebounded in the morning and maintained an upward trajectory throughout the afternoon, with foreign investors solely on a 'buying' spree worth 88.1 billion won. Individuals and institutions sold net amounts of 21.6 billion won and 41.0 billion won, respectively.
In the KOSDAQ market, most of the top market capitalization stocks such as Ecopro BM, ABL Bio, and Rainbow Robotics have spiked.
In the KOSDAQ market, the upward trend of cosmetics-related stocks was particularly pronounced. CLASSYS and PharmaResearch recorded increases of around 6% and 3%, respectively, while SILICON2 rose by over 11%.
Meanwhile, as discussions on candidate unification for the presidential election drift, the stock prices of related companies varied. Pyung Hwa Holdings and Pyunghwa Industrial, linked to People Power Party candidate Kim Moon-soo, closed strongly. Stocks related to candidate Han Duck-soo, including i-Scream edu and TY Holdings, performed poorly. Sangji Construction, identified with Democratic Party of Korea candidate Lee Jae-myung, recorded upper limits for two consecutive days.
On this day, the exchange rate of the Korean won against the U.S. dollar recorded 1.4 won lower at 1,396.6 won compared to the previous transaction.