[Edaily Reporter Shin Ha-yeon ] The KOSPI opened with a gain of over 1%. Overnight, all three major indices on the New York Stock Exchange rose by more than 1% as concerns over a September interest rate hike by the Federal Reserve (Fed) eased, and risk-on sentiment appears to be continuing in the domestic stock market as well.

According to MP Doctor on the 4th, as of 9:05 a.m. today, the KOSPI is trading at 6,680.24, up 100.76 points (1.53%) from the previous trading day. The index opened at 6,654.36, up 1.14% from the previous trading day.

On the 3rd (local time), the three major indices on the New York Stock Exchange all closed up more than 1% as concerns over a September interest rate hike by the Federal Reserve (Fed) eased.

On the New York Stock Exchange, the Dow Jones Industrial Average closed at 53,686.11, up 624.16 points (1.18%) from the previous trading day. The S&P 500 index closed at 7,747.71, up 81.11 points (1.06%), while the tech-heavy Nasdaq Composite Index closed at 26,584.06, up 366.23 points (1.40%).

Investor sentiment improved after Federal Reserve Governor Christopher Waller stated that he could support keeping the benchmark interest rate unchanged at this month’s Federal Open Market Committee (FOMC) meeting if signs of easing inflationary pressures are confirmed. However, Governor Waller did not completely rule out the possibility of further tightening, noting that he could support a rate hike if inflation were to pick up again.

Following Waller’s remarks, market expectations for a September rate hike fell sharply, and U.S. Treasury yields—which had recently surged—also declined. Buying interest, particularly in large-cap tech stocks, drove NVIDIA up 1.8%. NVIDIA announced today that it would acquire the open-source artificial intelligence (AI) platform Hugging Face for $12.9 billion. Snowflake also surged 16.6% on a positive earnings outlook, while Broadcom fell 2.7% as its fourth-quarter revenue forecast fell short of market expectations, which had been raised.

Han Ji-young, an analyst at KIWOOM Securities, predicted, “The domestic stock market is expected to rebound today, driven by technical buying stemming from the perception that yesterday’s decline was excessive, coupled with a stabilization in the sharp rise of U.S. 10-year Treasury yields and the positive impact of Broadcom’s earnings surprise.”

She added, “It is now crucial to determine whether stock prices will begin to properly reflect individual positive factors again through a recovery in the overall supply-and-demand environment and valuations across the market,” He added, “For this to happen, a further stabilization of the sharp rise in the U.S. long-term bond market and a decline in oil prices must first occur. At this point, we need to assume a scenario where these preconditions are gradually met through this week’s August employment report, next week’s August CPI data, and attempts to return to the negotiating table between the U.S. and Iran.”

In terms of supply and demand, foreign investors and institutional investors are currently net buyers of 259.4 billion won and 228.8 billion won, respectively, in the stock market. In contrast, retail investors alone are net sellers of 508.4 billion won. Program trading, combining arbitrage and non-arbitrage trades, shows a net buying position of 337.5 billion won.

By sector, securities and IT services are showing gains in the 2% range, and most other sectors—including electrical and electronics, chemicals, manufacturing, medical and precision instruments, machinery and equipment, transportation and warehousing, telecommunications, transportation equipment and parts, textiles and apparel, pharmaceuticals, finance, real estate, and entertainment and culture—are on the rise. Conversely, retail, insurance, food, beverages, and tobacco, non-metals, and electricity and gas are trading lower.

Among the top market-cap stocks, SamsungElectronics(005930)is trading at 255,000 won, up 5,000 won (2.0%) from the previous trading day. SK hynix(000660)is trading at 1,630,500 won, up 34,500 won (2.16%). In addition, SKSQUARE(402340)(1.43%), SamsungElectroMechanics(009150)(1.11%), LG Energy Solution(373220)(0.14%), HyundaiMotor(005380)(1.30%), and SAMSUNG BIOLOGICS(207940)(0.47%) are also showing gains.

At the same time, the KOSDAQ index is trading at 806.60, down 16.39 points (2.07%) from the previous trading day. In terms of supply and demand, foreign investors are the only net buyers, with net purchases of 29.5 billion won, while individual and institutional investors are net sellers of 23.2 billion won and 1.2 billion won, respectively.

Among the top market-cap stocks, most are rising, including Alteogen Inc.(196170)(2.03%), ECOPRO CO., LTD(086520)(1.84%), ECOPRO BM CO., LTD.(247540)(1.60%), Rainbow Robotics(277810)(5.96%), JUSUNG ENGINEERING Co.,Ltd.(036930)(2.98%), EO Technics Co., Ltd.(039030)(7.06%), and WONIK IPS Co.,Ltd.(240810)(3.62%).