On the eve of the FOMC, KOSPI opened strongly at 4160 points, with SK Hynix up 4.2%.

Source: BlockMedia Original Title: [Market Opening] KOSPI Opens Slightly Higher at 4,160 Ahead of FOMC; SK Hynix Up 4.2% Original Link:

Market Opening

The South Korean stock market opened strong on the 10th, buoyed by foreign buying. Ahead of the Federal Open Market Committee (FOMC) and Oracle’s earnings release, individual and institutional investors remained cautious.

According to data from the Korea Exchange, as of 9:15 a.m., the KOSPI Index was up 8.94 points (0.22%) from the previous trading day at 4,152.49. KOSPI opened at 4,159.05, up 15.50 points or 0.37% from the previous close.

Index Boosted by Exclusive Foreign Buying

In the main securities market, individual investors and institutional investors net sold 9.4 billion KRW and 4.3 billion KRW, respectively. In contrast, foreign investors net bought 9.81 billion KRW exclusively, pushing the index higher.

A securities researcher commented, “The market is now starting to make directional bets ahead of the December FOMC and Oracle earnings report, which will take place around 4 a.m. KST on the 11th. As expectations for a December rate cut have already been fully priced in, whether or not a rate cut is announced will be a secondary issue at this meeting.”

By sector, performance was mixed. Chemicals rose 0.39%, machinery and equipment 0.36%, and electricity and gas 0.27%, leading the gains. In contrast, textiles and apparel fell 0.39%, and pharmaceuticals dropped 0.74%, leading the declines.

Among the top ten stocks by market capitalization, performance was mixed. Samsung Electronics rose 0.74%, SK Hynix rose 4.24%, while Hyundai Motor fell 1.79% and Hanwha Aerospace dropped 2.03%.

KOSDAQ Down

The researcher noted, “The domestic stock market is likely to remain cautious ahead of the packed schedule of the December FOMC and Oracle events early tomorrow. Although overall trading volume is down and the index direction is unclear, themes such as the National Growth Fund and the potential SpaceX IPO in 2026 remain relevant, so related theme stocks are worth watching today.”

They further analyzed, “The market has basically priced in a December rate cut by the FOMC, but there is still significant uncertainty regarding next year’s FOMC. Ultimately, the direction of U.S. and Korean 10-year Treasury yields after the December FOMC—which is linked to next year’s monetary policy outlook—will influence the market direction after the FOMC.”

Meanwhile, the KOSDAQ Index was down 1.74 points (0.19%) from the previous trading day at 929.61. KOSDAQ opened at 932.37, up 1.02 points or 0.11% from the previous close.

KOSDAQ Individual Investors Exclusively Buying

In the KOSDAQ market, individual investors exclusively bought 16.4 billion KRW worth of stocks. However, foreign and institutional investors sold 9.93 billion KRW and 5.18 billion KRW, respectively, dragging the index down.

By sector, all sectors declined except for non-metals, which rose 0.49%, and electrical/electronics, which gained 0.20%. Metals fell 0.12%, machinery and equipment dropped 0.33%, and IT lost 0.15%.

Among the top KOSDAQ stocks by market capitalization, all declined except EcoPro BYD, which rose 0.27%. Alteo Gene fell 1.09%, Ligand Chem Bio dropped 1.04%, and Kolon Tissue Gene fell 2.22%.

Exchange Rate

In the Seoul foreign exchange market, the KRW/USD rate opened at 1,470.0 KRW, down 2.3 KRW from the previous session’s closing price of 1,472.3 KRW.