On expectations that the government's plan to revitalize the KOSDAQ market will take shape, the KOSDAQ kept rallying. The KOSPI, by contrast, closed slightly lower.
On the 1st, the KOSDAQ index finished trading at 922.38, up 1.06% from the previous session. It was the highest in a month since Nov. 4 (926.57). The KOSDAQ index rose for four straight sessions starting on Nov. 26. At one point during the day, the KOSDAQ crossed the 930 level.
As the financial authorities said they are continuously reviewing measures to boost the capital market, there is strong market expectation that a KOSDAQ market revitalization plan will be announced soon. Securities firms expect the government to create an environment that expands liquidity in the KOSDAQ market through measures such as increasing the share of KOSDAQ investments by pension funds and expanding tax credits for KOSDAQ venture funds.
In the KOSDAQ market that day, foreigners were net sellers of 170 billion won, but institutions had a net buying advantage of 370 billion won, lifting the index.
In the main board, foreigners were net buyers of more than 200 billion won, but the index was slightly weaker. The KOSPI started higher but turned lower early in the session. It attempted a rebound but barely held the 3,920 level. The KOSPI closed at 3,920.37, down 6.22 points (0.16%).
Analysts said the U.S. Federal Reserve is likely to cut rates this month, and with Black Friday, the biggest shopping season of the year, kicking off, U.S. stocks ended higher over the weekend.
However, even as authorities wage an all-out effort, the won continued to weaken, and as U.S. stock index futures fell, investor sentiment deteriorated. Japan's stock market fell by nearly 2%, and the domestic market also weakened.
On the main board, financials, including Shinhan Financial Group and KB Financial, were strong. The relative strength was attributed to expectations for dividends. In the KOSDAQ market, financials also drew significant attention, while, amid Coupang's personal data leak incident, security-related stocks such as Genians rose.