US Final Interest Rate Consensus Rises... KOSPI and KOSDAQ Both Fall

[Asia Economy Reporter Son Sunhee] On the 9th, both the KOSPI and KOSDAQ are showing a decline in the early trading session.

As of 9:10 AM, the KOSPI is at 2469.84, down 13.80 points (-0.56%) from the previous close.

This is interpreted as a result of hawkish remarks from key officials of the U.S. Federal Reserve (Fed) the day before, which pushed the market consensus on the U.S. terminal interest rate down to 5.25%.

Han Ji-young, a researcher at Kiwoom Securities, analyzed, "The market started weak due to the cumulative burden from the Fed's hawkish stance and the sharp drop in the U.S. Nasdaq, which stimulated profit-taking desires." Regarding sectors and themes, she added, "It is necessary to prepare for increased volatility in GPT-related stocks, which had high interest in the domestic market the previous day. Since major companies such as Lotte Chemical, SK Biopharm, Hana Financial Group, and KT have scheduled earnings announcements one after another, it is expected that a stock-specific market will unfold again as these individual earnings issues are absorbed."

Looking at trading trends by investor type, individuals and foreigners are net buyers of 77.6 billion KRW and 8.5 billion KRW respectively. Institutional investors are net sellers of 86.3 billion KRW.

The top 10 stocks by market capitalization are also uniformly declining. Samsung Electronics is trading at 62,500 KRW, down 600 KRW (-0.95%) from the previous close. LG Energy Solution is also down 4,000 KRW (-0.73%) at 542,000 KRW. NAVER and Kakao are showing declines of over 2%. NAVER is trading at 225,000 KRW, down 5,500 KRW (-2.39%), and Kakao is at 67,300 KRW, down 1,800 KRW (-2.60%).

The KOSDAQ index is also falling. At the same time, the KOSDAQ is at 777.46, down 2.52 points (-0.32%) from the previous close. Individual investors are net buyers of 48.1 billion KRW, while foreigners and institutions are net sellers of 30.2 billion KRW and 13.8 billion KRW respectively.

Unlike the KOSPI, some of the top market capitalization stocks in the KOSDAQ are showing gains. EcoPro BM is trading at 123,500 KRW, up 1,500 KRW (1.23%) from the previous close, and L&F (0.23%), EcoPro (3.18%), and Kakao Games (0.21%) are also rising. On the other hand, Celltrion Healthcare (-1.16%), HLB (-1.62%), and Pearl Abyss (-2.29%) are declining.