KOSPI fluctuates around 5,500 ahead of U.S. rate decision and SK hynix earnings; foreign investors sell [fn Morning Market Update]

[Financial News] The KOSPI is fluctuating around the 5,500 level ahead of the U.S. policy rate decision and SK hynix’s third-quarter earnings announcement, among other events.
According to the Korea Exchange (KRX), as of 11 a.m. on the 26th, the KOSPI was trading at 5,497.81, down 52.49 points (0.95%) from the previous trading day. It opened at 5,499.05, down 51.25 points (0.92%) from the previous session, and rose as much as 0.28% to 5,565.67 before turning lower again.
On the main board, foreign investors were the only net sellers, offloading 370.3 billion won. Institutions and individual investors were net buyers of 213.8 billion won and 135.6 billion won, respectively. Other corporations bought 20.8 billion won.
Among the largest companies by market capitalization, major semiconductor stocks were weak, including Samsung Electronics (-1.16%), SK hynix (0.00%), Samsung Electronics preferred shares (-2.03%) and SK Square (-0.26%). SK hynix opened at 1,277,000 won, unchanged from the previous trading day’s close, then rose as much as 2.97% to 1,315,000 won early in the session before giving up its gains.
A report said SK hynix would return to shareholders, as a special dividend, 80% of the gain from selling its stake in Japanese NAND flash maker Kioxia at its third-quarter earnings announcement on the 28th. But after SK hynix disclosed that “nothing has been finalized,” some disappointed selling appears to have emerged.
The market is also watching the Federal Open Market Committee’s (FOMC) regular meeting, scheduled for the 27th and 28th (local time). With the benchmark interest rate having been raised last month for the first time in about three years, expectations that rates will be held steady this month are prevailing, though the recent sharp rise in international oil prices is a wild card.
Han Ji-young, an analyst at KIWOOM Securities, said, “This week, the KOSPI is expected to remain volatile as it navigates major domestic and international events such as the FOMC meeting and SK hynix’s earnings. The market is expected to closely weigh these major events, and in the process, intraday volatility could rise frequently without a clear direction.”
At the same time, the KOSDAQ was trading at 735.05, down 16.64 points (2.21%) from the previous session. It opened at 742.17, down 9.52 points (1.27%) from the previous trading day, and its losses have since widened.
On the KOSDAQ, institutions and foreign investors were net sellers of 54.2 billion won and 51.7 billion won, respectively. Individual investors were net buyers of 108.4 billion won.

[email protected] Im Sang-hyeok Reporter