[Edaily Reporter Kwon Oh Seok ] The KOSPI, which closed with a 5% plunge last week, opened higher on the first trading day of this week ahead of positive developments.

According to MP Doctor on the 27th, the KOSPI opened at 6,806.27, up 115.65 points (1.73%) from the previous trading day, and as of 9:16 a.m., it was trading at 6,729.75, up 39.13 points (0.58%).
So far today, retail investors are the only net buyers in the KOSPI market, with net purchases totaling 653.6 billion won, while foreign and institutional investors are net sellers of 565.2 billion won and 97.2 billion won, respectively. By trading type, combined arbitrage and non-arbitrage trades show a net selling position of 492.3 billion won.
Last week, the U.S. stock market in New York closed mixed. On the 24th (local time), the Dow Jones Industrial Average closed at 51,947.25, up 235.60 points (0.46%) from the previous trading day. The S&P 500 index closed at 7,411.98, up 3.68 points (0.05%), while the tech-heavy Nasdaq Composite Index closed at 24,975.82, down 161.87 points (0.64%).
Earlier, news emerged that Pakistan, with China’s support, had stepped in to mediate negotiations between the U.S. and Iran, signaling that geopolitical tensions in the Middle East were beginning to ease. This appears to have helped somewhat temper the sharp rise in international oil prices, which in turn served as a positive factor for stock prices.
Furthermore, the securities industry anticipates that stock prices will begin to recover following major events this week. A series of major events are scheduled for this week, including the July meeting of the U.S. Federal Open Market Committee (FOMC), as well as: △ U.S. June Personal Consumption Expenditures (PCE) △ July inflation expectations △ expectations for an easing of U.S.-Iran geopolitical tensions △ earnings reports from U.S. Big Tech companies such as Microsoft, Amazon, and Meta △ and earnings reports from leading Korean stocks such as SamsungElectronics, SK hynix, and SamsungElectroMechanics.
Han Ji-young, an analyst at KIWOOM Securities, stated, “The KOSPI’s forward P/E ratio is below 6x (5.7x as of the 24th), indicating that the market remains attractive from a valuation perspective. It is also important to note that the index secured downward support near the 120-day moving average last week.” "Since the premise that the market has entered a medium-term bottom from both valuation and technical perspectives remains intact, the key will be how much momentum for a rebound can be generated through the major domestic and international events scheduled for this week," she analyzed.
So far today, large-cap and small-cap stocks on the KOSPI are up 0.01% and 0.89%, respectively, while mid-cap stocks are the only segment showing a decline of 0.06%. By sector, IT services are up 4.75%, entertainment and culture 2.81%, and pharmaceuticals 2.82%, while transportation equipment and parts are down 2.32%, metals 1.45%, and chemicals 1.04%.
Most of the top market-cap stocks are showing gains. SamsungElectronics(005930)is trading at 259,500 won, up 10,000 won (4.01%) from the previous trading day, while SK hynix(000660)is trading at 1,825,000 won, up 66,000 won (3.75%) over the same period. However, SAMSUNG BIOLOGICS(207940)is trading at 1,497,000 won, down 21,000 won (1.38%).
Meanwhile, the KOSDAQ index opened at 760.54, up 12.32 points (1.65%) from the previous trading day, and is currently trading at 766.58, up 18.36 points (2.45%) at the same time.
In the KOSDAQ market, retail and institutional investors are net buyers of 1.6 billion won and 22.6 billion won, respectively, while foreign investors alone are net sellers of 23.5 billion won. By trading type, combined arbitrage and non-arbitrage trades show a net selling position of 17.2 billion won.