Aftershocks of 'Powell Shock' Continue... KOSPI Drops Over 1%, Exchange Rate Starts at 1450 KRW

Foreigners and Institutions Both 'Sell'

On the 20th, the KOSPI index started with a downward trend due to the aftermath of the previous day's Federal Open Market Committee (FOMC).

As of 9:11 AM, the KOSPI index is recording 2409.17, down 1.1% from the previous day. The index started with a 0.26% decline and has been widening its drop since the early session.

In the stock market, foreigners and institutions are net sellers with 74 billion KRW and 50 billion KRW, respectively. Only individuals are net buyers with 122 billion KRW.

Most of the top market cap stocks on the KOSPI are falling. Samsung Electronics is down 0.75%. SK Hynix, despite confirming the receipt of direct subsidies worth 660 billion KRW under the U.S. administration's semiconductor law the previous day, is down 2%. Samsung Biologics is weak by over 4% due to delayed interest rate cut expectations.

The KOSDAQ index is also on a downward trend for the second day. Currently, the KOSDAQ index is recording 680.97, down 0.5%. In the KOSDAQ market, foreigners and institutions are net sellers with 36 billion KRW and 30 billion KRW, respectively. Individuals are net buyers with 67 billion KRW.

The top market cap stocks on the KOSDAQ are mixed. Alteogen, EcoPro BM, and Hugel are rising, while HLB, EcoPro, and Rigakem Bio are declining.

The KRW-USD exchange rate started with a slight decline. On this day, the KRW-USD exchange rate opened at 1450 KRW, down 1.9 KRW from the previous day's closing price in the Seoul Foreign Exchange Market.

Noh Jeong-dong, Hankyung.com reporter dong2@hankyung.com