KOSPI Struggles... Closes at 3220 with Slight Gains [fn Closing Market]

[Financial News] Due to uncertainties in policies such as major shareholder transfer tax standards, KOSPI ended trading in a flat range.  On the 14th, according to the Korea Exchange, the KOSPI index closed at 3225.66, up 1.29p (0.04%) from the previous trading day. The index started at 3226.52, up 0.07% from the previous session, and closed in a flat range.
In the securities market, individuals and foreigners sold 55.5 billion KRW and 88.1 billion KRW, respectively, limiting the index's rise. Institutions alone net purchased 23.5 billion KRW.
By industry, telecommunications (1.53%), insurance (1.17%), and general services (0.95%) rose, while electricity and gas (-1.45%), medical and precision devices (-1.31%), and real estate (-1.28%) fell.
Among the top market cap stocks, LG Energy Solution (1.16%), Hanwha Aerospace (0.57%), and Hyundai Motor (0.69%) rose, while Samsung Electronics (-0.42%), SK Hynix (-0.54%), and Samsung Biologics (-0.67%) fell.
Overnight, the New York stock market continued its record-high rally as rotation into relatively neglected stocks occurred despite a lull in big tech. U.S. Treasury Secretary Scott Besant urged the Fed to cut rates by 50bp starting in September, stating that a base rate 1.5% lower than the current level is needed, leading to strength in small and mid-cap stocks excluding the Magnificent 7 stocks.
Jaewon Lee, a researcher at Shinhan Investment Corp., said, "Today, the domestic stock market lacked a clear net buying entity, and domestic semiconductor stocks also showed weakness due to the sharp decline in CoreWeave in the U.S. stock market," adding, "With the second-quarter earnings announcements concluded, it is a time to confirm policy momentum, such as the amendment to the Commercial Act containing the mandatory retirement of treasury stocks."
At the same time, the KOSDAQ index closed at 815.26, up 1.16p (0.14%) from the previous trading day. The index started at 814.48, up 0.05% from the previous session.
In the KOSDAQ market, individuals alone sold 14.7 billion KRW, while foreigners and institutions showed a buying advantage of 47.5 billion KRW and 1 billion KRW.


nodelay@fnnews.com Jiyeon Park, Reporter