[Opening Market] KOSPI Battles to Hold Around 6,970 Amid Mixed Flows
On the morning of Oct. 2, the domestic stock market opened lower due to selling pressure from foreign investors driven by external variables in early trading, but it is showing a trend of rapidly narrowing the decline as simultaneous buying by individuals and institutions flows in during the morning
The KOSPI, South Korea's main stock market index, opened near 6,970 on October 2 but was struggling to hold its value amid mixed trading flows. Foreign investor selling pressure, influenced by external factors and rising U.S. Treasury yields, initially pushed the index lower. However, buying support from domestic individuals and institutions helped the KOSPI rebound, with the index fluctuating between 6,927.88 and 6,991.55 points throughout the day.
The KOSDAQ opened lower at 893.22, but managed to recover to 903.81, hitting the 900 mark for the first time in three months on July 2. Foreign investors remained net sellers, while domestic investors and institutions showed net buying activity. The semiconductor sector showed a mix of losses and gains, with Samsung Electronics and SK hynix demonstrating contrasting performances.
The won/dollar exchange rate reached above 1,360 won, reflecting the impact of dollar strength on the Korean market. Experts predicted that market fluctuations would continue, influenced by the Federal Reserve's monetary policy stance and foreign exchange market volatility, with a focus on companies showing clear trends of earnings improvement.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
