KOSPI and KOSDAQ Rise Over 1%... Growth Stocks and Large Caps Both Strong

On the 14th, the KOSPI index rose more than 1% in early trading to the 2,540 level due to the possibility of a U.S. interest rate cut next year. Dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

On the 14th, the KOSPI and KOSDAQ started higher. This is interpreted as an expansion of risk asset investment sentiment following the U.S. Federal Open Market Committee (FOMC) announcement (local time the previous day) that it may cut the base interest rate three times next year.

As of 9:26 a.m., the KOSPI is at 2,545.38, up 1.38% (34.72 points) from the previous day. The KOSPI opened at 2,547.74, up 1.48% (37.08 points) from the previous day, and has maintained its strength since.

Foreign investors and institutions are leading the index with net purchases of 131.9 billion KRW and 233.6 billion KRW, respectively. Individual investors alone are net selling 416.6 billion KRW. In the futures market, only foreign investors are buying, with net purchases of 216.7 billion KRW. Meanwhile, individuals and institutions are selling 54.7 billion KRW and 166.6 billion KRW, respectively.

All of the top 10 stocks by market capitalization are showing gains. In particular, the growth stock NAVER +3.04% ranks first in terms of increase. This is interpreted as growth stocks also showing strength following the Federal Reserve's indication that it is discussing interest rate cuts.

LG Energy Solution +2.32%, SK Hynix +2.67%, Samsung Electronics +1.51%, and POSCO Holdings +1.88% also show notable gains in the semiconductor and battery sectors.

As of 9:31 a.m., the KOSDAQ is trading at 841.99, up 1.53% (12.68 points) from the previous day. The KOSDAQ opened at 841.75, up 1.50% (12.44 points) from the previous day, and is showing a steady trend. Similar to the KOSPI, foreign investors and institutions are net buyers with 9.7 billion KRW and 79.6 billion KRW, respectively. Meanwhile, individual investors are net sellers of 92.2 billion KRW.

All of the top 10 stocks by market capitalization are also on the rise. Notable increases include HPSP +5.94% and HLB +5.19%. In the KOSDAQ, the battery sector is also strong with L&F +3.56% and EcoPro BM +2.24%.