The KOSPI started higher on the 24th. Expectations for a rate cut in December grew, and it appears to have been influenced by the three major U.S. indexes finishing higher.
As of 9:02 a.m., the KOSPI was up 1.05% (40.34 points) from the previous trading day at 3,893.60. The KOSPI opened at 3,915.16, up 61.90 points (1.61%) from the previous day.
In the Korea Exchange main board, individuals were net buyers of 42.7 billion won, while foreigners and institutions were net sellers of 33.7 billion won and 11.0 billion won, respectively.
Most of the top market-cap stocks on the main board were rising. Samsung Electronics, SK hynix, Hyundai Motor, Doosan Enerbility, KB Financial, and Kia were up, while only LG Energy Solution and Samsung Biologics were down.
At the same time, the KOSDAQ was up 0.50% (4.29 points) from the previous trading day at 868.24. The KOSDAQ opened at 873.30, up 9.35 points (1.08%) from the previous day.
In the KOSDAQ market as well, individuals were net buyers of 78.9 billion won, while foreigners and institutions were net sellers of 68.7 billion won and 10.4 billion won.
Most of the top market-cap stocks on the KOSDAQ were falling. Alteogen, EcoPro BM, EcoPro, Peptron, Rainbow Robotics, LigaChem Biosciences, and Sam Chun Dang Pharm were down, while only HLB and Kolon TissueGene were up.
U.S. stocks finished higher on the 21st, the last trading day of last week (local time). The Dow Jones Industrial Average rose 1.08%, and the Standard & Poor's (S&P) 500 and the Nasdaq composite rose 0.98% and 0.88%, respectively.
U.S. stocks strengthened as expectations spread that the Federal Reserve (Fed) could cut the benchmark rate in December.
John Williams, president of the Federal Reserve Bank of New York, said, "I think we could further adjust the benchmark rate in the near future."