KOSPI Gains Limited by Middle East Uncertainty Despite SK hynix Earnings Optimism [fn Closing Market]

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[Financial News] The KOSPI Composite Index closed higher, lifted by strength in SK hynix Inc. ahead of its earnings release. However, lingering Middle East risks capped the gains.
\r\nOn the 20th, the KOSPI Composite Index ended trading at 6,219.09, up 27.17 points, or 0.44%, from the previous session.
Individuals and foreign investors were net sellers, offloading 277.4 billion won and 159.8 billion won, respectively, while institutions were net buyers of 181.5 billion won.
Expectations for strong earnings from SK hynix Inc. pushed the index higher. SK hynix Inc. closed at 1,166,000 won, up 38,000 won, or 3.37%, from the previous session. At one point during the session, it touched 1,175,000 won, setting a new record high.
Among other large-cap stocks, LG Energy Solution rose 2.63%, SK Square Co., Ltd. gained 2.79%, Samsung Biologics advanced 0.25%, Hanwha Aerospace Co., Ltd. climbed 0.14%, and Doosan Enerbility Co., Ltd. increased 2.30%. In contrast, Samsung Electronics Co., Ltd. fell 0.69%, Hyundai Motor Company dropped 2.04%, and Kia Corporation declined 1.13%.
By sector, machinery and equipment, electrical and electronics, real estate, manufacturing, metals, textiles and apparel, and electricity and gas all showed strength. Meanwhile, entertainment and culture, construction, telecommunications, securities, IT services, and medical and precision equipment fell.
Han Ji-young, a researcher at Kiwoom Securities Co., Ltd., said, "In the early part of this week, volatility is expected to widen as uncertainty over U.S.-Iran negotiations and expectations for the earnings season overlap." She added, "As the market's focus shifts to earnings in the middle of the week, leading stocks may face short-term sell-on pressure at the start of their earnings announcements."
She also noted, "Given that the outlook for improved earnings momentum across the broader market remains unchanged, the KOSPI Composite Index is expected to attempt to break through its previous high later this week."
Meanwhile, the KOSDAQ closed at 1,174.85, up 4.81 points, or 0.41%, from the previous session.
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jisseo@fnnews.com Seo Min-ji Reporter