Concerns Over Interest Rate Hike Ease... KOSPI Up 0.45% in Early Trading

US Employment Data Disappoints, Lowering Chances of Interest Rate Hike

The KOSPI continues its upward trend, influenced by the rise in major U.S. indices.

As of 9:16 a.m. on the 9th, the KOSPI stood at 2622.71, up 0.45% (11.86 points) from the previous trading day. The index opened at 2624.15, up 0.51% (13.30 points) from the previous day, maintaining its upward momentum. Looking at investor trends, individual investors bought stocks worth 30 billion KRW alone, while foreigners and institutions sold stocks worth 12.7 billion KRW and 15 billion KRW, respectively.

The U.S. employment data came in weaker than expected, easing concerns about interest rate hikes and lifting the index. Some analysts predict that the unemployment rate, a key factor for the Federal Reserve's rate decisions by the end of this year, will reach the median forecast of 4.5%. Ji-young Han, a researcher at Kiwoom Securities, said, "The domestic stock market today is expected to see a wait-and-see stance ahead of next week's U.S. May Consumer Price Index (CPI) release and Federal Open Market Committee (FOMC) meeting," adding, "Since AI-related stocks such as Nvidia and AMD showed strength, the semiconductor sector is expected to lead the upward trend." Last night, the Nasdaq index closed higher with a gain of over 1%, supported by a rise in tech stocks.

Among the top market capitalization stocks, Samsung Electronics (0.14%), LG Energy Solution (1.52%), Samsung Biologics (2.29%), LG Chem (0.41%), Hyundai Motor (0.31%), POSCO Holdings (1.42%), and NAVER (1%) showed strength. Only SK Hynix (-0.46%) and Samsung SDI (-0.14%) were in decline.

At the same time, the KOSDAQ index stood at 882.50, up 0.73% (6.37 points) from the previous trading day. The index opened at 882.11, up 0.68% (5.98 points) from the previous day, continuing its upward trend. Investor trends show that institutions bought stocks worth 86.3 billion KRW, while foreigners and individuals sold stocks worth 72.2 billion KRW and 10.8 billion KRW, respectively.

Among the top market capitalization stocks, Ecopro BM (1.31%), Ecopro (4.56%), Celltrion Healthcare (0.83%), L&F (3.72%), JYP Ent. (2.03%), HLB (0.54%), and Celltrion Pharm (0.84%) rose, while Kakao Games (-0.5%) and Pearl Abyss (-2.98%) declined.