On the 13th, the KOSPI opened lower but rebounded in early trading to hold slightly higher around the 4,150 level. The U.S. government's shutdown was officially lifted, easing a burden on the domestic market, but investor sentiment does not appear to have improved markedly yet. Because of the college entrance exam, the market opened an hour later than usual at 10 a.m. that day.
The KOSPI opened at 4,127.57, down 22.82 points (0.55%) from the previous session. As early losses narrowed, it rebounded and even reclaimed the 4,160 level. Although the index fluctuated as foreign investors showed a selling bias, a modest rise has continued as institutional funds flowed in. As of 10:40 a.m., the KOSPI was rising around the 4,160 level.
Samsung Electronics and SK hynix are also gaining. Financials, seen as dividend stocks, are strong on the back of the government and ruling party's stated intention to revitalize the market and the released support measures. KB Financial, Shinhan Financial Group, and Hana Financial Group are all rising.
The won's weakness is also continuing. The won-dollar rate opened at 1,469.0 won and broke above 1,470 won in early trading. The persistently high exchange rate appears to be weighing on foreign investor sentiment.
Overnight, U.S. stocks in New York were mixed. Financials' gains stood out, but tech lagged somewhat. Nvidia and Broadcom inched up, while Apple and Tesla closed lower.
The KOSDAQ is also rebounding and settling around the 900 level. The KOSDAQ opened at 903.73, down 2.78 points (0.31%) from the previous day, but rebounded in early trading and topped the 910 level in the morning.