As the U.S. Personal Consumption Expenditures (PCE) report was about to be released and a presidential debate between U.S. President Joe Biden and former President Donald Trump took place, the domestic stock market closed higher on the 28th amid a wait-and-see stance.
On the 28th, the KOSPI started with a slight rise, approaching the 2800 mark, while the won-dollar exchange rate fluctuated slightly around the 1380 won level. Various indices such as stock prices and exchange rates are displayed on the electronic board in the dealing room at the Seoul Hana Bank headquarters. Photo by Heo Younghan younghan@
On that day, the KOSPI closed at 2,797.82, up 13.76 points (0.49%) from the previous trading day. The index opened at 2,792.79, up 8.73 points (0.31%), and extended its gains. Foreigners and institutions net bought stocks worth 31.7 billion KRW and 240.9 billion KRW, respectively. Individuals sold stocks worth 280.4 billion KRW on their own.
Among the top market capitalization stocks, Samsung Fire & Marine Insurance (3.18%), Samsung C&T (2.38%), Shinhan Financial Group (2.12%), POSCO Future M (1.57%), LG Electronics (1.56%), POSCO Holdings (0.97%), NAVER (0.91%), and Kakao (0.62%) rose. On the other hand, Samsung SDI (-1.94%), Kia (-1.67%), Hyundai Motor (-1.01%), Samsung Biologics (-0.68%), LG Energy Solution (-0.46%), Samsung Electronics Preferred (-0.31%), and Samsung Electronics (-0.12%) declined.
By sector, securities (1.85%), transportation and warehousing (1.82%), insurance (1.65%), food and beverages (1.29%), chemicals (1.29%), and finance (1.20%) sectors rose. Conversely, electric and electronics (-0.37%), pharmaceuticals (-0.24%), transportation equipment (-0.24%), and medical precision (-0.19%) sectors fell.
Jae-won Lee, a researcher at Shinhan Investment Corp., said during the session, "With no clear direction, large-cap stocks showed a slight decline as foreign capital flowed in. The U.S. presidential debate was underway, and there was no clear direction in foreign investors' futures and spot trading. The upcoming PCE release also strengthened the wait-and-see sentiment."
The KOSDAQ index recorded 840.44, up 1.79 points (0.21%) from the previous session. The index opened at 840.11, up 1.46 points (0.17%), and successfully closed higher. Foreigners net bought stocks worth 23.9 billion KRW. Meanwhile, institutions and individuals net sold stocks worth 6 billion KRW and 8.4 billion KRW, respectively.
Among the top market capitalization stocks, Seojin System (9.25%), SOOP (8.87%), Techwing (7.95%), Jusung Engineering (7.64%), Lake Materials (6.03%), Oscotec (5.92%), C&C International (5.53%), and SM (5.37%) rose. Conversely, HLB (-8.45%), VT (-6.86%), Daewoo Electronics Materials (-4.92%), Eugene Tech (-4.89%), and Pharma Research (-4.74%) declined.
Researcher Lee noted, "KOSDAQ large-cap stocks were sluggish due to profit-taking. Ahead of the June export-import trends announcement, cosmetics sector stocks hesitated. The game, entertainment, and media sectors were strong."
On that day, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,376.7 won, down 9.1 won from the previous trading day.
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