[Closing Market] KOSPI Reclaims 6,800 As Foreign Selling Slows
On Aug. 26, the domestic stock market started lower in the aftermath of early weakness in technology stocks and caution ahead of the earnings announcement by the U.S.-based Nvidia, but succeeded in an upward reversal during the session as supply and demand improved, centered on large-cap semiconduct
On August 26, South Korea's KOSPI stock index reclaimed the 6,800 level after foreign selling slowed down. The domestic market began lower due to tech stock weakness and Nvidia's upcoming earnings, but recovered during the trading day. KOSPI ended at 6,808.21, a gain of 65.47 points (0.97%) from the previous day. Large-cap semiconductor stocks, particularly Samsung Electronics and SK hynix, drove the upward reversal.
KOSDAQ, however, remained flat at 826.87, down slightly from the day before. The drop was mainly due to weakness in small to medium-sized control and secondary battery stocks. Foreign investors' selling slowed sharply, with net selling volume dropping to 116.2 billion won ($83.91 million). Institutional investors stepped in with a massive net buying trend of over 2 trillion won.
Retail investors, eager to capitalize on the gains, sold off their holdings, netting a total of 2.2413 trillion won in the KOSPI market. While Samsung Electronics and SK hynix rebounded, other stocks like Hyundai Motor, Kia, LG Energy Solution, and POSCO showed varied performance. Nuclear power and power equipment-related stocks also saw strong upward movement.
The won/dollar exchange rate fell slightly to the low-to-mid 1,380 won range, influenced by the Federal Reserve's interest rate policy and global risk sentiment following Nvidia's earnings.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
