On the 10th, the KOSPI index closed slightly lower amid caution ahead of the U.S. Federal Open Market Committee (FOMC) decision on its benchmark interest rate.
That day, the KOSPI ended trading at 4,135.00, down 8.55 points (0.21%) from the previous session. The KOSPI index opened slightly higher and rose to as high as 4,172.64 early in the session, but turned lower as institutions dumped shares. Institutions recorded a net sell of 341.4 billion won in the main board. Foreigners and individuals bought shares worth 297.0 billion won and 14.5 billion won, respectively.
SK hynix jumped 3.71% on news it is reviewing a plan to issue depository receipts (ADR) and list in the U.S. stock market. However, other chip stocks were weak, including Samsung Electronics (-0.37%) and HANMI Semiconductor (-0.16%).
Among other top market-cap stocks, Hanwha Aerospace plunged nearly 4%, and Hyundai Motor (-1.47%), HD Hyundai Heavy Industries (-1.04%), LG Energy Solution (-0.45%) and Kia (-0.32%) also closed lower. Samsung Biologics (0.30%) and Doosan Enerbility (0.13%) inched up.
Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, said, "The KOSPI showed sector-by-sector divergence, with selling pressure emerging in autos, secondary batteries and financial holding companies," and added, "After foreign inflows into semiconductors and others the previous day, investors stayed on the sidelines ahead of the FOMC."
Unlike the KOSPI, the KOSDAQ index closed at 935.00, up 3.65 points (0.39%) from the previous session. In the KOSDAQ market, foreigners and institutions posted net buys of 125.5 billion won and 1.0 billion won, respectively, while individuals alone sold 78.8 billion won.
Among top KOSDAQ market-cap stocks, ABL Bio rallied more than 9% that day. Bio names broadly rose, including Sam Chun Dang Pharm (5.27%), Peptron (5.06%), LigaChem Biosciences (3.11%) and Kolon TissueGene (2.10%). Rainbow Robotics also climbed 2.72%. However, EcoPro BM (-1.43%), EcoPro (-0.85%), HLB (-0.71%) and Alteogen (-0.11%) fell.
Kang said, "In the KOSDAQ market, bargain hunting flowed into bios where sentiment had been weak, and the market showed sector rotation while waiting for the government's activation policies."
The won-dollar exchange rate stood at 1,470.4 won as of 3:30 p.m. in the Seoul foreign exchange market, down 1.9 won from the previous day.