Foreign Selling Amid 'US FOMC Caution'... KOSPI Slightly Lower

'Ddadable' Success LS Materials, Up 30%+ Strong Rally

Amid cautious sentiment ahead of the U.S. Federal Open Market Committee (FOMC) meeting, the KOSPI is trading in the 2520 range on the 13th.

Securities company app, stock trading scene. Photo by Hyunmin Kim kimhyun81@

As of 10:45 a.m. on the day, the KOSPI index was trading at 2526.95, down 8.32 points (-0.33%) from the previous trading day. The index opened at 2531.12, down 4.04 points (-0.16%), and is currently fluctuating in the 2520 range. Foreign investors sold 41.5 billion KRW worth of shares, while individuals and institutions bought 44 billion KRW and 77.1 billion KRW worth, respectively.

Among the top market capitalization stocks, SK Hynix (1.07%), Hyundai Mobis (0.88%), Naver (NAVER) (0.47%), Samsung Life Insurance (0.43%), and Shinhan Financial Group (0.40%) rose. Conversely, POSCO Future M (-2.35%), POSCO Holdings (-2.24%), LG Energy Solution (-2.24%), and Samsung SDI (-2.13%) declined.

By sector, food and beverages (0.73%), transportation and warehousing (0.64%), securities (0.35%), and insurance (0.21%) are rising. On the other hand, steel and metals (-1.28%), medical precision (-1.18%), machinery (-1.03%), and chemicals (-0.98%) sectors fell.

On the 12th (local time), the U.S. stock market closed higher due to a disinflationary trend (slowing inflation) and expectations of a soft economic landing. At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 36,577.94, up 173.01 points (0.48%) from the previous session. The S&P 500 index rose 21.26 points (0.46%) to 4,643.70, and the Nasdaq index closed at 14,533.40, up 100.91 points (0.70%).

At the same time, the KOSDAQ index fell 6.97 points (-0.82%) to 832.56. Individuals bought 236.6 billion KRW worth of shares, but foreign investors and institutions sold 92.9 billion KRW and 120.2 billion KRW worth, respectively.

Among the top market capitalization stocks, LS Mtron (30.00%), POSCO DX (3.16%), SM Entertainment (1.43%), JYP Entertainment (JYP Ent.) (0.75%), and HPSP (0.22%) rose. Notably, LS Mtron, which debuted on KOSDAQ the previous day with a closing price of 24,000 KRW, achieved a so-called 'ttattabl' (a fourfold increase from the public offering price), and on this day traded at 31,200 KRW, up 7,200 KRW (30.00%) from the previous day. Conversely, EcoPro (-3.94%), L&F (-3.32%), Lunit (-2.75%), EcoPro BM (-2.74%), Alteogen (-2.50%), and Classys (-1.72%) declined.