The U.S. Federal Reserve (Fed) is expected to lower the benchmark interest rate in September, causing the New York Stock Exchange to show an upward trend. In contrast, the Korean stock market continued its sluggish performance.
The KOSPI index closed at 3,225.66 on the 14th, up 1.29 points (0.04%) from the previous day. The KOSPI index started the day with gains but soon showed a downward trend. The index, which had struggled to gain momentum, had to settle for a slight rise during the simultaneous closing bid on the options expiration day.
In the KOSPI market, institutions showed a buying advantage of 16.9 billion won, while foreigners and individuals sold a net 78.1 billion won and 53 billion won worth of stocks, respectively. Among the top market capitalization stocks, Samsung Electronics, SK hynix, and Samsung Biologics were on the weak side. LG Energy Solution, Hanwha Aerospace, Hyundai Motor, and HD Hyundai Heavy Industries saw their stock prices rise.
Investors focused on stocks that announced better-than-expected earnings or shareholder return policies. Meriz Financial Group's stock rose more than 6% due to better-than-expected earnings. HS Ad, a comprehensive advertising agency under LG Group, saw its stock soar to around 20% after announcing an increase in dividend payout ratio, ultimately finishing about 10% higher.
The KOSDAQ index closed at 815.26, up 1.16 points (0.14%) from the previous trading day. The KOSDAQ index also started on a positive note but fluctuated afterward.
In the KOSDAQ market, foreigners and institutions saw net purchases of 51.4 billion won and 1.8 billion won, respectively. Individuals engaged in 'selling' worth 32.2 billion won.
Among the top market capitalization stocks, the 'bellwether' Alteogen, along with HLB and Sam Chun Dang Pharm, finished trading at lower prices than the previous day. Ecopro BM, Peptron, Ecopro, PharmaResearch, LigaChem Biosciences, Rainbow Robotics, and ABL Bio performed strongly.
The two stocks that debuted in the KOSDAQ market had contrasting fortunes. G2GBIO, a company specializing in the development of sustained-release injectables, soared over 60% from the offering price (58,000 won). GITSN, a convergence security solution company that moved from the KONEX market after completing a merger with Kiwoom No.8 Special Purpose Acquisition Company, recorded a stock price decline of over 20% from the previous trading day.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, noted, 'In a situation where the domestic stock market lacks momentum, the trend of declining trading amounts in the KOSPI market is continuing,' and added, 'There is also a continued mixed trend without distinct leading sectors or additional upward or downward momentum.'
As of 3:30 p.m. in the Seoul foreign exchange market, the won-dollar exchange rate recorded 1,382.0 won, up 0.3 won from the previous day.