Kospi Trades Flat Ahead of Second Round of Middle East Ceasefire Talks; Kosdaq Falls
Summary
- The Kospi moved in a slightly positive range as investors turned cautious ahead of the second round of talks to end the war in the Middle East.
- On the benchmark stock market, flows were mixed as institutions and individual investors were net buyers, while foreign investors were net sellers in cash equities and net buyers in futures.
- The broader tone reflected weaker risk appetite, with the Kosdaq falling, large-cap stocks trading mixed, and the won-dollar exchange rate rising.
Forecast Trend Report by Period
South Korea’s Kospi fluctuated in a narrow range on April 20 as investors stayed on the sidelines ahead of a second round of talks aimed at ending the war in the Middle East.
As of 9:04 a.m., the Kospi was up 6.41 points, or 0.10%, at 6,198.33. The index briefly rose above 6,210 shortly after the open before slipping back toward flat.
Institutions and individual investors were net buyers of 50.7 billion won and 9.6 billion won, respectively, on the benchmark market, while foreigners sold a net 54.9 billion won of stocks. Foreign investors were net buyers of 74.7 billion won of Kospi 200 futures.
The US and Iran are scheduled to continue ceasefire talks in Islamabad, Pakistan, on April 20. President Donald Trump wrote on social media a day earlier that “my delegation is heading to Islamabad, Pakistan” and that “they will be there tomorrow evening for negotiations.”
He also wrote, “We made a very fair and reasonable proposal, and I hope they accept it.” Otherwise, he said, “the United States will bring down all of Iran’s power plants and bridges.”
Large-cap stocks were mixed.
Samsung Electronics fell 1.16%. SK Hynix rose 1.77% and SK Square gained 1.61%.
Hyundai Motor fell 2.23%, while Kia lost 1.44%.
Hanwha Aerospace rose 1.55% and Doosan Enerbility added 2.67%.
The Kosdaq fell 5.64 points, or 0.48%, to 1,164.40. On that market, individual investors bought a net 67.6 billion won of shares, while foreigners and institutions sold 54.1 billion won and 10.3 billion won, respectively.
Kosdaq large-cap stocks were also mixed.
EcoPro and EcoPro BM fell 0.99% and 1.2%, respectively.
Alteogen was little changed, while Kolon TissueGene rose 2.15% and HLB gained 1.28%. Samchundang Pharm fell 0.51%.
In Seoul’s foreign-exchange market, the won-dollar exchange rate rose 17.2 won, or 1.18%, to 1,477.2 won per dollar.
Han Kyung-woo, Hankyung.com reporter, case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
