KOSPI closes near 6,900 as analysts flag pre-Chuseok volatility

  • KOSPI closed at 6,894.23 on Sept. 18 after gaining 2.66% as foreign investors returned to the market.
  • NH Investment & Securities projected a weekly range of 6,400 to 7,500, while the 12-month forward PER stood at a record-low 5.5.
  • Three trading sessions before Chuseok and the Sept. 24 U.S.-China Summit could increase volatility, although analysts see post-holiday recovery potential.

The KOSPI rose 2.66% to 6,894.23 on Sept. 18 as foreign investors returned to net buying despite the Federal Reserve's 0.25-percentage-point rate increase, while the KOSDAQ gained 0.60% to 827.12. Analysts expect pre-Chuseok volatility from Sept. 21 to 23 because of reduced trading, macro uncertainty and the Sept. 24 U.S.-China Summit, but view any correction as a potential entry point ahead of a post-holiday rebound. NH Investment & Securities projects a weekly KOSPI range of 6,400 to 7,500, citing a record-low 12-month forward PER of 5.5 and rising earnings expectations, while warning that looser U.S. semiconductor restrictions on China could pressure Samsung Electronics and SK Hynix.

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