'Futures and options expiry' KOSPI starts higher as it digests the FOMC… Exchange rate ↓

U.S. benchmark rate cut of 0.25% point… Exchange rate opens lower

The KOSPI index opened higher in early trading on the 11th, the final futures and options expiration day of the year, as investors were stimulated by news of a U.S. benchmark rate cut.

As of 9:05 a.m., the KOSPI was up 30.92 points (0.75%) at 4165.92.

In the early hours, the U.S. Federal Open Market Committee (FOMC) concluded its two-day regular meeting and cut the benchmark interest rate by 0.25 percentage points. It is the third cut this year and the third consecutive rate cut.

The rate cut relieved some concerns about liquidity for the time being, and major New York stock indices also showed broad gains.

At this time in the securities market, institutional investors were net buyers of 53.8 billion won. Foreign and individual investors were net sellers of 28.2 billion won and 21.2 billion won, respectively.

Top market-cap KOSPI stocks showed mixed movements. Samsung Electronics (1.94%), Samsung Biologics (1.08%), Doosan Enerbility (1.56%) were rising, while LG Energy Solution (-0.91%), Hyundai Motor (-0.66%), HD Hyundai Heavy Industries (-0.88%) were falling.

SK Hynix and SK Square fell 1.02% and 1.39%, respectively, in early trading after being designated as investment warning stocks by the Korea Exchange.

The KOSDAQ index was also up. At this time, the KOSDAQ was up 0.2% at 936.89. In the KOSDAQ market, individuals were net buyers of 170 billion won. Foreign and institutional investors were net sellers of 124 billion won and 25 billion won, respectively.

On the KOSDAQ, Alteogen (0.11%), Rainbow Robotics (0.21%), Rino Industry (1.41%) were rising, while EcoPro BM (-1.67%), EcoPro (-1.8%), ABL Bio (-1.63%) were falling.

The won–dollar exchange rate opened lower. In the Seoul foreign exchange market, the won–dollar rate opened at 1464.5 won, down 5.9 won from the previous day.

No Jeong-dong, Hankyung.com reporter dong2@hankyung.com