Investors turn cautious ahead of Chuseok, limiting KOSPI gains to 0.9%
KOSPI gave up most of its early gains Wednesday as investors adopted a wait-and-see stance on the final trading day before the Chuseok holiday. The benchmark index closed at 7,080.92, up 0.9 percent from the previous session. The index opened nearly 2 percent higher but gave up most of its gains, extending a recent pattern of strong openings followed by weaker trading later in the day. Foreign…
Investors in South Korea are displaying a cautious approach ahead of the Chuseok holiday, which has limited the gains of the KOSPI index to just 0.9% on Wednesday. The benchmark index opened nearly 2% higher but subsequently shed most of its gains, aligning with a recent trend of robust openings followed by weaker trading later in the day.
Foreign and retail investors collectively sold shares, while institutional investors bought, leading to a net loss of approximately 534.4 billion won and 1.42 trillion won, respectively. Despite the market's cautious stance, individual companies like SK hynix and Samsung Electronics managed to post gains of 1.2% and 3.25%, respectively.
Recent diplomatic developments, including talks between the U.S. and Iran, have had a positive impact on oil prices, but the Korean market remains closed for the Chuseok holiday on Thursday.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
