On the 30th, the KOSPI opened by once again hitting a record high. After breaking above the 6,700 mark the previous day, it is now attempting to enter the 6,800 range.
It is interpreted as the impact of the U.S. Federal Open Market Committee (FOMC) holding rates steady the previous day, followed by big techs releasing strong results.
As of 9:11 a.m., the KOSPI index was trading at 6,731.53, up 40.63 points (0.61%) from the prior session. The index opened at 6,739.39 and is moving within the 6,730–6,750 range intraday.
Foreigners and institutions are net buying 390.4 billion won and 30 billion won, respectively, driving the index higher, while individuals are net selling 404.5 billion won.
The U.S. FOMC held the benchmark rate at 3.5%–3.75% the previous day. After the decision, a statement emphasized inflation and geopolitical risks, briefly prompting a hawkish read, but former Fed Chair Jerome Powell said "the current policy rate is sufficiently restrictive and the likelihood of further hikes is low," easing market anxiety. Powell also decided to remain on the Fed Board.
Four big tech corporations—Microsoft (MS), Alphabet (Google), Meta, and Amazon—all posted results that beat market expectations on revenue and earnings per share (EPS).
Overnight, the three major U.S. stock indexes in New York ended mixed. The Dow Jones Industrial Average fell 0.6%, the Standard & Poor's (S&P) 500 was flat with no change, and the Nasdaq 100 rose 0.6% at the close.
Semiconductors and IT stocks are strong in the domestic market. Samsung Electronics and SK hynix are up more than 1% on the back of big tech's strong results. LG Electronics, buoyed by news of collaboration with Nvidia on humanoids, is surging 8%.
At the same time, the KOSDAQ was trading at 1,216.65, down 3.61 (0.3%) from the prior session. The index opened higher at 1,224.75 but turned lower as foreigners became net sellers of 103.2 billion won.
However, on Robotics expectations, NAU Robotics is up 23%, Doosan Robotics 14%, and T-Robotics 8%.