Major Events Next Week: FOMC, BOJ, BOE, and More
Foreign investors heavily sold Samsung Electronics and SK Hynix, causing the KOSPI index to show a sluggish trend and close flat around the 2570 level. It is observed that they preemptively engaged in risk hedging ahead of the long Chuseok holiday next week and upcoming global monetary policy events.
On the 13th, the KOSPI index closed at 2,575.41, up 3.32 points (0.13%) from the previous trading day. The index started down 0.01% from the previous day, dropped to 2,562.91 during the morning session, but reversed to rise in the afternoon session.
By investor type, individuals and institutions net bought 427.7 billion KRW and 428.8 billion KRW respectively, while foreigners net sold 972.3 billion KRW. Program trading showed a net selling bias with a total net sale of 572.6 billion KRW, combining both arbitrage and non-arbitrage trades.
By sector, steel and metals (6.31%), finance (2.49%), securities (2.47%), transportation equipment (2.44%), and construction (1.76%) closed higher, while electrical and electronics (-2.48%), manufacturing (-0.62%), chemicals (-0.47%), and medical precision (-0.25%) closed lower.
Among the top market capitalization stocks, KB Financial Group (4.74%), Hyundai Motor (2.16%), Samsung Biologics (1.96%), and Kia (1.41%) showed strength. Conversely, semiconductor leaders such as SK Hynix (-3.55%) and Samsung Electronics (-2.87%), which faced concentrated foreign selling pressure, were weak. In fact, foreigners recorded net sales of 10.735 billion KRW in the KOSPI electrical and electronics sector alone on that day.
Ji-won Kim, a researcher at KB Securities, commented, "Although foreign investors injected net buying funds into KOSPI futures, the scale was limited. The net selling volume by foreigners in the electrical and electronics sector was about 1 trillion KRW, exceeding the total net selling volume of the entire KOSPI, intensifying semiconductor-centered selling pressure."
He added, "Semiconductor stocks switched to a downward trend in just one day, limiting the upper range of the index. While the market showed a sluggish trend due to the absence of clear positive catalysts in leading sectors, strength in automobile, shipbuilding, and financial stocks supported the lower range of the index."
Volatility in the domestic stock market is expected to be high next week. Major global monetary policy events are pending immediately after the Chuseok holiday closure, including the U.S. Federal Open Market Committee (FOMC), the Bank of England (BOE) monetary policy meeting, the Bank of Japan (BOJ) monetary policy meeting, and China's Loan Prime Rate (LPR) decision.
Meanwhile, on the same day, the KOSDAQ index closed at 733.20, up 2.17 points (0.30%) from the previous day. The index started higher but fell to 726.37 at one point before successfully reversing to rise in the afternoon session.
Individuals net bought 138.8 billion KRW, while foreigners and institutions net sold 125 billion KRW and 2.5 billion KRW respectively. Program trading showed a net selling bias with a total net sale of 154.8 billion KRW, combining both arbitrage and non-arbitrage trades.
Among the top market capitalization stocks, Hugel (2.62%), Classys (2.23%), Rigacomm Bio (1.59%), and Celltrion Pharm (1.04%) rose, while Samchundang Pharm (-0.45%) and EcoPro (-0.39%) declined.
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