KOSPI Hits 4,000 Mark on 1 Trillion Won in Individual Buying; KOSDAQ Market Cap Surpasses 500 Trillion Won Intraday [fn Afternoon Market Report]

Driven by individual investors purchasing more than 1 trillion won in the Korea Composite Stock Price Index (KOSPI) market, the KOSPI index successfully reclaimed the 4,000 mark. Meanwhile, the Korea Securities Dealers Automated Quotations (KOSDAQ) index surpassed a market capitalization of 500 trillion won for the first time ever during intraday trading. As of 1:30 p.m. on the 4th, the KOSPI was trading at 4,002.77, down 33.53 points (0.83%) from the previous session. The index opened at 4,018.91, a 0.43% decrease, dropped to as low as 3,982.54, but rebounded to recover the 4,000 level in the afternoon.
In the KOSPI Market, individuals net purchased 1.0497 trillion won, helping to support the index against further declines. In contrast, foreign investors and institutions net sold 867 billion won and 217 billion won, respectively.
By sector, IT services (up 1.08%), transportation equipment and parts (up 0.88%), and transportation and storage (up 0.74%) showed strength. On the other hand, medical and precision instruments (down 2.50%), retail (down 1.86%), and securities (down 1.70%) were weak.
Among the top market cap stocks, Samsung Electronics (up 0.19%), Samsung Biologics (up 0.97%), Hyundai Motor (up 6.19%), and Doosan Enerbility (up 0.51%) rose. However, SK hynix (down 2.54%) and LG Energy Solution (down 2.39%) declined.
Overnight in the United States, the three major indices closed higher as expectations for a Federal Reserve System (Fed) rate cut grew, following a slowdown in the employment and price indices within the ISM Services Index and weak private employment data. However, big tech investment sentiment deteriorated during the session due to news that Microsoft had revised down its AI product sales forecasts.
Despite rate cut expectations, concerns over overvaluation in AI continued to weigh on the market, leading to declines in major semiconductor stocks on the KOSPI.
Lee Jae-won, a researcher at Shinhan Securities, stated, "Foreign investors, who had been net buyers in the KOSPI market for three consecutive sessions, shifted to profit-taking today, resulting in declines across most sectors."
Meanwhile, at the same time, the KOSDAQ index was trading at 931.17, down 0.84 points (0.09%) from the previous session. The index opened at 934.01, up 0.21%, and has been moving within a narrow range.
During intraday trading, the KOSDAQ market capitalization surpassed 500 trillion won for the first time in history. At around 10:11 a.m., the KOSDAQ market cap reached 500.662 trillion won.
In the KOSDAQ market, individuals were net sellers of 11.3 billion won, while foreign investors and institutions net bought 3.5 billion won and 82.7 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter