KOSPI closes 0.04% lower as foreign selling offsets Fed-driven gains

  • KOSPI ended lower after foreign selling reversed its early gains.
  • Foreign investors sold 1,682.5 billion won, while institutions bought 1,211.7 billion won.
  • The won closed at 1,382.2 per dollar, weakening 13.6 won on the day.

South Korea’s stock market ended slightly lower on Sept. 17 as investors assessed the U.S. Federal Reserve’s interest rate decision and monetary-policy direction. The KOSPI opened at 6,779.02, up 0.91%, and reached 6,795.53 before foreign selling erased the gains, leaving the index at 6,715.41, down 2.56 points, or 0.04%. Institutional investors bought a net 1,211.7 billion won, about $876.65 million, helping limit the decline, while foreign investors sold 1,682.5 billion won in the spot market and remained net sellers for seven consecutive sessions. Individual investors sold 1,186.4 billion won after shifting from early buying to late profit-taking. The KOSDAQ finished at 822.47, supported by pharmaceutical, biotechnology and selected secondary-battery stocks. Samsung Electronics, SK hynix, LG Energy Solution and Samsung Biologics closed lower, while Hyundai Motor rose 0.28% on improved export indicators. The won weakened 13.6 won to 1,382.2 per dollar as dollar demand linked to foreign equity selling increased. Market experts identified foreign-fund flows and foreign-exchange volatility as key variables for further stock-market moves.

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