On November 27, the KOSPI trimmed earlier gains and surrendered the 4,000 level by the close, as domestic expectations for additional rate cuts weakened despite the previous night’s strength on Wall Street.
The index finished at 3,986.91, up 26.04 points (0.66%) from the previous session. The KOSPI opened 28.58 points (0.72%) higher at 3,989.45, reclaiming the 4,000 mark for the first time in five sessions and rising to as high as 4,023.42 before paring back intraday gains.
As of 3:30 p.m., the won-dollar exchange rate stood at 1,464.9 won, down 0.7 won from the previous session.
Foreign and institutional investors added upward pressure to the market with net purchases of 152.8 billion won and 432.1 billion won, respectively. Retail investors, however, limited the market’s upside, recording 609.6 billion won in net selling. Meanwhile, foreign investors posted net selling of 154.5 billion won in KOSPI200 futures.
The domestic market initially rallied, quickly reclaiming the 4,000 level on the back of overnight gains in U.S. equities.
U.S. stocks rose overnight as rotation buying into artificial-intelligence (AI) names continued despite firm labor data and lingering uncertainties around U.S. rate policy. Shares of Nvidia recovered 1.37% after recent weakness triggered by concerns that Google’s rise could erode its dominance in AI infrastructure, which in turn supported buying interest in Korean semiconductor stocks.
However, the KOSPI’s upward momentum faded after the Bank of Korea’s Monetary Policy Board, as widely expected, kept the benchmark interest rate unchanged at 2.50%, reducing expectations for further rate cuts.
The Board also revised its policy statement, softening previous language regarding additional rate cuts, leaving room for interpretation that further easing may no longer be guaranteed depending on future economic and financial conditions.
In addition, whereas five and four Board members, respectively, in the August and October meetings suggested keeping the possibility of a rate cut within three months, only three members expressed such a view in the latest meeting.
Lee Kyung-min, an analyst at Daishin Securities, said, “Following the Monetary Policy Board’s announcement this morning, the KOSPI pared gains. The Bank of Korea adjusted the policy statement’s ‘easing stance’ to ‘possibility,’ signaling a more hawkish tone that suggests rate cuts may have come to an end.”
Among large-cap stocks, SK hynix(000660), a key beneficiary in the Nvidia value chain, climbed 3.82% to return to the mid-540,000-won range, while Samsung Electronics(005930) gained 0.68%.
LG Energy Solution(373220) (+0.57%), Kia(000270) (+0.71%), and SK Square(402340) (+3.44%) also advanced.
In contrast, Hanwha Aerospace(012450), which had risen earlier in the session following the successful Nuri rocket launch, reversed course to finish down 0.92%. Samsung Biologics(207940) (-0.30%) and Celltrion(068270) (-1.17%), typically regarded as rate-cut beneficiaries, also fell. NAVER(035420), which on the previous day decided to acquire Dunamu, slid 4.55%.
By industry, steel & materials (+4.02%), entertainment & culture (+2.49%), and electronics (+1.58%) gained, while IT services (-2.17%), utilities (-1.20%), and securities (-0.90%) declined.
The KOSDAQ ended at 880.06, up 2.74 points (0.31%). The index opened 2.12 points (0.24%) higher at 879.44 and rose to 884.00 before paring gains through the session.
Retail investors net-bought 157.5 billion won on the KOSDAQ, while foreign and institutional investors sold 86.5 billion won and 41.6 billion won, respectively.
Alteogen(196170) (+0.58%), ABL Bio(298380) (+0.81%), Rainbow Robotics(277810) (+2.68%), Kolon TissueGene(950160) (+0.44%), and Leeno Industrial(058470) (+0.47%) gained.
EcoPro BM(247540) (-2.00%), EcoPro(086520) (-1.92%), Peptron(087010) (-3.45%), LigaChem Biosciences(141080) (-2.64%), and HLB(028300) (-0.86%) declined.
Total trading value amounted to 12.955 trillion won on the KOSPI and 8.547 trillion won on the KOSDAQ.
On November 27, the KOSPI trimmed earlier gains and surrendered the 4,000 level by the close, as domestic expectations for additional rate cuts weakened despite the previous night’s strength on Wall Street.
The index finished at 3,986.91, up 26.04 points (0.66%) from the previous session. The KOSPI opened 28.58 points (0.72%) higher at 3,989.45, reclaiming the 4,000 mark for the first time in five sessions and rising to as high as 4,023.42 before paring back intraday gains.
As of 3:30 p.m., the won-dollar exchange rate stood at 1,464.9 won, down 0.7 won from the previous session.
Foreign and institutional investors added upward pressure to the market with net purchases of 152.8 billion won and 432.1 billion won, respectively. Retail investors, however, limited the market’s upside, recording 609.6 billion won in net selling. Meanwhile, foreign investors posted net selling of 154.5 billion won in KOSPI200 futures.
The domestic market initially rallied, quickly reclaiming the 4,000 level on the back of overnight gains in U.S. equities.
U.S. stocks rose overnight as rotation buying into artificial-intelligence (AI) names continued despite firm labor data and lingering uncertainties around U.S. rate policy. Shares of Nvidia recovered 1.37% after recent weakness triggered by concerns that Google’s rise could erode its dominance in AI infrastructure, which in turn supported buying interest in Korean semiconductor stocks.
However, the KOSPI’s upward momentum faded after the Bank of Korea’s Monetary Policy Board, as widely expected, kept the benchmark interest rate unchanged at 2.50%, reducing expectations for further rate cuts.
The Board also revised its policy statement, softening previous language regarding additional rate cuts, leaving room for interpretation that further easing may no longer be guaranteed depending on future economic and financial conditions.
In addition, whereas five and four Board members, respectively, in the August and October meetings suggested keeping the possibility of a rate cut within three months, only three members expressed such a view in the latest meeting.
Lee Kyung-min, an analyst at Daishin Securities, said, “Following the Monetary Policy Board’s announcement this morning, the KOSPI pared gains. The Bank of Korea adjusted the policy statement’s ‘easing stance’ to ‘possibility,’ signaling a more hawkish tone that suggests rate cuts may have come to an end.”
Among large-cap stocks, SK hynix(000660), a key beneficiary in the Nvidia value chain, climbed 3.82% to return to the mid-540,000-won range, while Samsung Electronics(005930) gained 0.68%.
LG Energy Solution(373220) (+0.57%), Kia(000270) (+0.71%), and SK Square(402340) (+3.44%) also advanced.
In contrast, Hanwha Aerospace(012450), which had risen earlier in the session following the successful Nuri rocket launch, reversed course to finish down 0.92%. Samsung Biologics(207940) (-0.30%) and Celltrion(068270) (-1.17%), typically regarded as rate-cut beneficiaries, also fell. NAVER(035420), which on the previous day decided to acquire Dunamu, slid 4.55%.
By industry, steel & materials (+4.02%), entertainment & culture (+2.49%), and electronics (+1.58%) gained, while IT services (-2.17%), utilities (-1.20%), and securities (-0.90%) declined.
The KOSDAQ ended at 880.06, up 2.74 points (0.31%). The index opened 2.12 points (0.24%) higher at 879.44 and rose to 884.00 before paring gains through the session.
Retail investors net-bought 157.5 billion won on the KOSDAQ, while foreign and institutional investors sold 86.5 billion won and 41.6 billion won, respectively.
Alteogen(196170) (+0.58%), ABL Bio(298380) (+0.81%), Rainbow Robotics(277810) (+2.68%), Kolon TissueGene(950160) (+0.44%), and Leeno Industrial(058470) (+0.47%) gained.
EcoPro BM(247540) (-2.00%), EcoPro(086520) (-1.92%), Peptron(087010) (-3.45%), LigaChem Biosciences(141080) (-2.64%), and HLB(028300) (-0.86%) declined.
Total trading value amounted to 12.955 trillion won on the KOSPI and 8.547 trillion won on the KOSDAQ.