FOMC Focused Cautious Sentiment, KOSDAQ Index Also Turns Down

[Asia Economy Reporter Ji Yeon-jin] On the 25th, the KOSDAQ index, which started higher, turned lower during the session.

The KOSDAQ index opened at 920.95, up 5.55 points (0.61%) on the day, but gave up its gains early on and has been declining since around 9:20 a.m. As of 9:36 a.m., the index was trading at 910.41, down 4.83 points (0.53%) from the previous day.

Individual investors, who showed buying momentum early in the session, reduced their net purchases, pulling the index down. With the U.S. Federal Open Market Committee (FOMC) meeting starting today, a wait-and-see attitude to confirm the meeting results appears to have dampened investor sentiment. Individuals have net bought about 11.9 billion KRW, and institutions have purchased around 7.8 billion KRW. On the other hand, foreign investors have net sold about 29.9 billion KRW.