On the 20th, the KOSPI and KOSDAQ indices started higher after closing slightly up on the New York stock market.
As of 9:14 a.m. on that day, the KOSPI index recorded 2,617.99, up 14.57 points (0.56%) from the previous day. The KOSPI index opened at 2,622.68, up 0.73% on the day.
In the securities market, individuals and institutions are net selling 8.2 billion won and 8 billion won, respectively. Only foreign investors are buying 22 billion won worth.
Most of the top market capitalization stocks turned red. Samsung Electronics, SK hynix, Hyundai Motor, Hanwha Aerospace, and KB Financial are all in an upward trend. On the other hand, Samsung Biologics, LG Energy Solution, and HD Hyundai Heavy Industries are trading at lower prices than the previous day.
At the same time, the KOSDAQ index recorded 720.86, up 7.11 points (1%) from the previous day. The KOSDAQ index opened at 719.36, up 5.61 points (0.78%) from the previous trading day.
The top market capitalization stocks on the KOSDAQ are also mostly rising. Alteogen, HLB, Rainbow Robotics, PharmaResearch, and Peptron are all seeing strong price increases. In contrast, shares of ECOPRO BM and Ecopro in the secondary battery sector are struggling. CLASSYS, Sam Chun Dang Pharm, and Seegene are also experiencing price declines.
On that day, the exchange rate of the won against the U.S. dollar in the Seoul foreign exchange market is trading at 1,393 won, up 2.9 won from the previous day.
Although the New York stock market opened lower reflecting the downgrade of the U.S. credit rating, it closed with a slight uptick, indicating that the domestic stock market is recovering most of its earlier losses.
Earlier, the New York stock market started with a sharp decline at the beginning of the session but closed slightly up as the credit rating downgrade was interpreted as a signal for resolution of uncertainty.
The Dow Jones Industrial Average rose by 0.32%, the Standard & Poor's 500 index increased by 0.09%, and the Nasdaq Composite gained 0.02%. The previously rising government bond rates also reversed to decline, alleviating concerns over 'Sell America.'
The credit rating agency Moody's downgraded the U.S. government credit rating from the highest 'Aaa' to 'Aa1' after the close of the New York stock market on the 16th (local time).