[Edaily Kwon Oh Seok Reporter] Despite the negative impact of the U.S. Federal Reserve’s (Fed) interest rate hike, the New York stock market managed to rebound overnight, and the domestic stock market also closed with a sharp rise, buoyed by positive momentum from the U.S.

According to MP Doctor on the 18th, the KOSPI opened higher at 6,885.70, up 170.29 points (2.54%) from the previous trading day, and closed at 6,894.23, up 178.82 points (2.66%).
During regular trading on the KOSPI that day, retail investors were the only group to net sell 3.5872 trillion won, while foreign and institutional investors net bought 424.5 billion won and 1.1892 trillion won, respectively. By trading type, combined arbitrage and non-arbitrage trades showed a net buying position of 345.6 billion won.
This rally resulted from a rebound in momentum as market uncertainty dissipated, even though the U.S. Federal Reserve raised the benchmark interest rate by 0.25 percentage points to a range of 3.75% to 4.00% at its regular Federal Open Market Committee (FOMC) meeting and hinted at the possibility of further hikes.
Typically, interest rate hikes increase the appeal of safe-haven assets and trigger capital outflows from the stock market; however, the yield on the 10-year U.S. Treasury note fell from the 5% range to the 4.9% range, significantly easing the market’s concerns about monetary tightening. The Bank of England’s (BOE) decision to keep interest rates unchanged also played a role. Although the Bank of Japan’s (BOJ) decision during the trading session to raise its benchmark interest rate by 0.25 percentage points to 1.25% nearly acted as a negative factor, the impact on the stock market was limited as global bond markets remained stable.
In particular, strong performance by leading semiconductor stocks drove the index higher. SamsungElectronics(005930)rose by around 3% from the previous trading day, breaking through the 260,000 won mark, while SK hynix(000660) also surged by over 5% to trade around the 1.84 million won level, with positive momentum continuing to center on large-cap tech stocks.
Lee Kyung-min, an analyst at DaishinSecurities, explained, “As uncertainty regarding the monetary policy path subsided following the September FOMC meeting, U.S. long-term bond yields also stabilized at lower levels,” adding, “Yields on 10-year and 30-year U.S. Treasuries fell to 4.94% and 5.29%, respectively, easing pressure on the stock market.”
Meanwhile, the KOSDAQ index opened at 832.72, up 10.54 points (1.28%) from the previous trading day, and closed at 827.12, up 4.94 points (0.60%).
During the KOSDAQ market’s regular session that day, retail investors and institutional investors made net purchases of 12.2 billion won and 21.5 billion won, respectively, while foreign investors made net sales of 43.7 billion won. By trading type, combined arbitrage and non-arbitrage trades showed a net buying position of 13.7 billion won.