'Wait-and-See Ahead of Economic Indicators and Earnings' KOSPI Closes Slightly Higher, KOSDAQ Falls

With investors taking a wait-and-see approach ahead of the release of major U.S. economic indicators and domestic and international large-cap earnings, the KOSPI closed slightly higher on April 28. In contrast, the KOSDAQ ended lower.

On this day, the KOSPI finished at 2,548.86, up 2.56 points (0.10%) from the previous trading session. The index opened at 2,551.23, up 4.93 points (0.19%), but failed to sustain a significant upward momentum. Foreign investors sold 107.8 billion won worth of shares, while retail investors offloaded 55.2 billion won. Institutional investors were net buyers, purchasing 96.0 billion won.

Dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul.

Among the top market cap stocks, Doosan Enerbility (1.43%), NAVER (1.03%), POSCO Holdings (0.96%), LG Energy Solution (0.73%), Kia (0.57%), and Samsung C&T (0.51%) posted gains. On the other hand, SK hynix (-1.30%), Meritz Financial Group (-1.01%), HD Hyundai Heavy Industries (-0.87%), Shinhan Financial Group (-0.80%), and Hanwha Ocean (-0.67%) closed lower.

By sector, entertainment·culture (4.44%), construction (2.96%), metals (2.52%), electric·gas (1.43%), and information technology (IT) services (1.23%) showed strength. In contrast, telecommunications (-1.39%), paper·wood (-1.35%), and medical precision instruments (-1.07%) ended lower.

The KOSDAQ index, on the other hand, closed at 719.41, down 10.28 points (1.41%) from the previous session. The index opened at 730.58, up 0.89 points (0.12%), but soon lost momentum and turned downward. Foreign investors and institutions were net sellers, offloading 58.6 billion won and 113.9 billion won, respectively. Retail investors were the sole net buyers, purchasing 185.1 billion won worth of shares.

Among the top KOSDAQ market cap stocks, JYP Ent. (3.00%), Pearl Abyss (2.16%), Silicon Two (1.87%), SM Entertainment (1.71%), EcoPro (0.98%), and EcoPro BM (0.97%) rose. In contrast, Kolon TissueGene (-7.81%), HPSP (-7.48%), Leeno Industrial (-6.12%), LIG ChemBio (-5.65%), ABL Bio (-5.22%), Alteogen (-3.25%), Rainbow Robotics (-2.98%), Samchundang Pharm (-2.93%), Hugel (-1.39%), and Celltrion Pharm (-1.13%) closed lower. The weakness in pharmaceutical and biotech stocks was particularly notable.

Kim Ji-won, a researcher at KB Securities, commented, "The domestic stock market ended mixed due to expectations for easing U.S.-China trade tensions, as well as caution ahead of corporate earnings announcements." She added, "This week, a number of key indicators are scheduled, including U.S. gross domestic product (GDP), personal consumption expenditures (PCE), and employment data. Earnings from major big tech companies such as Microsoft (MS), Meta, Apple, and Amazon are also awaited. In Korea, following strong results from shipbuilding stocks last week, several companies, including those in the defense sector, are scheduled to announce their earnings this week."