KOSPI Surpasses 2720 Level on FOMC 'Three Rate Cuts' Outlook

Following the announcement of the U.S. Federal Open Market Committee (FOMC) results, expectations for three interest rate cuts this year gained momentum, leading the KOSPI to successfully break through the 2720 level on the 21st.

On the 21st, the KOSPI opened at 2,731.18, up 41.04 points (1.53%) from the previous trading day (2,690.14), as employees were working in the dealing room of Hana Bank in Jung-gu, Seoul. On the same day, the KOSDAQ index started at 900.46, rising 9.01 points (1.01%) from the previous trading day (891.45), and the won-dollar exchange rate opened at 1,329.5 won, down 10.3 won from the previous trading day (1,339.8 won). Photo by Jo Yongjun jun21@

As of 10:06 a.m. that day, the KOSPI recorded 2,729.37, up 39.23 points (1.46%) from the previous trading day.

By investor type, individual investors were net sellers with 824.9 billion KRW. In contrast, institutions and foreigners were net buyers with 310.3 billion KRW and 515.5 billion KRW, respectively.

By sector, medical precision and insurance rose more than 2%. Financials, electric and gas utilities, manufacturing, and distribution sectors rose more than 1%. Meanwhile, pharmaceuticals and food and beverages were slightly down.

Among the top market capitalization stocks, Samsung Electronics traded at 78,400 KRW, up 1,500 KRW (1.95%) from the previous day. SK Hynix rose more than 6%. Additionally, Hyundai Motor and Samsung C&T rose 2%, while POSCO Holdings and Samsung SDI increased more than 1%.

The KOSDAQ recorded 905.55, up 14.10 points (1.58%).

By investor type, individual investors were net sellers with 170 billion KRW. Conversely, foreigners and institutions were net buyers with 141.3 billion KRW and 42 billion KRW, respectively.

By sector, telecommunications equipment rose more than 3%. Pharmaceuticals, non-metallic minerals, general electric and electronics, and semiconductors rose more than 2%. Meanwhile, textiles and apparel, and other manufacturing sectors declined within 1%.

Among the top market capitalization stocks, EcoPro BM traded at 20,000 KRW, up 8,500 KRW (3.21%) from the previous day. HLB rose more than 7%, and HPSP rose more than 3%. Additionally, Alteogen, EcoPro, Soulbrain, and JYP Ent. also rose more than 1%.