The KOSPI opened with a rise of over 1% as U.S. long-term interest rates stabilized and the New York stock market showed strength. Both foreign and institutional investors are contributing to the index's increase.
As of 9:08 a.m. on September 4, the KOSPI was trading at 6,667.50, up 88.02 points (1.34%) from the previous trading day. The index started at 6,654.36, up 74.88 points (1.14%), and has since expanded its gains.
On the previous night, the New York stock market rose for the second consecutive day as concerns over a September interest rate hike by the U.S. Federal Reserve eased. On September 3 (local time), the Dow Jones Industrial Average increased by 1.18%, while the S&P 500 and Nasdaq rose by 1.06% and 1.40%, respectively.
In the securities market, individual investors sold a net 473.8 billion won, while foreign and institutional investors bought a net 251 billion won and 210.1 billion won, respectively.
Among the top market capitalization stocks, Samsung Electronics (1.90%), SK Hynix (2.44%), SK Square (1.53%), Samsung Electro-Mechanics (2.30%), Hyundai Motor (1.30%), and Samsung Biologics (0.07%) saw gains, while LG Energy Solution (-0.27%), KB Financial (-1.01%), and Samsung C&T (-3.76%) experienced declines.
At the same time, the KOSDAQ index was trading at 804.65, up 14.44 points (1.83%) from the previous trading day. The index started at 802.32, up 12.11 points (1.53%), and has also increased its gains.
In the KOSDAQ market, individual and institutional investors sold a net 47.6 billion won and 2.5 billion won, respectively, while foreign investors bought a net 54.3 billion won.
Among the top KOSDAQ stocks, Alteogen (2.12%), EcoPro (0.98%), EcoPro BM (1.03%), Rainbow Robotics (5.04%), JUSUNG Engineering (2.50%), IOTech (5.50%), Wonik IPS (3.14%), Rino Industry (2.18%), and Simtech (1.02%) all showed upward trends.
Market analysts noted the need to monitor macro variables such as the U.S. August employment report and movements in the yen. However, they also viewed the recent stabilization of U.S. interest rates and the attractive valuation of the domestic stock market as positive factors.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic stock market is expected to open higher due to the dovish remarks from Fed Governor Waller, the decline in U.S. interest rates, and the strong performance of KOSPI 200 night futures. During the day, investors will likely focus on macro variables such as the U.S. August employment report and the direction of the yen, transitioning to a sector rotation market."
She added, "As the surge in U.S. market interest rates stabilizes, it is important to consider the possibility that the domestic supply and demand base will normalize over time, leading to a sustained upward trajectory in market lows."
* This article has been translated by AI.
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