[Edaily Reporter Kim Kyung-eun ] The KOSPI is trading slightly flat around the 5,500 level in early trading on the 26th. This is interpreted as a wait-and-see attitude amid ongoing pressures from high interest rates and high oil prices, as well as ahead of this week’s regular meeting of the U.S. Federal Open Market Committee (FOMC) and earnings announcements from major domestic and international companies.

According to MP Doctor, as of 9:05 a.m. today, the KOSPI is trading at 5,501.08, down 57.42 points (1.03%) from the previous trading day. The index opened at 5,499.05, down 51.25 points (0.92%) from the previous close, and has been fluctuating since then.

This is interpreted as being influenced by caution ahead of key economic indicators and corporate earnings announcements, amid ongoing volatility in international oil prices stemming from the Middle East.

By investor type, foreign investors have made net purchases of 61 billion won, while retail investors and institutions have made net sales of 57.4 billion won and 7.3 billion won, respectively.

By sector, insurance, pharmaceuticals, food & beverages/tobacco, and IT services are showing strength. Medical & precision instruments, metals, machinery & equipment, and construction are showing weakness.

Among the top market-cap stocks, SamsungElectronics(005930)is trading at 212,500 won, down 3,000 won (1.39%) from the previous trading day. SK hynix(000660)is trading at 1,281,000 won, up 4,000 won (0.31%).

Among other top-market-cap stocks, SAMSUNG BIOLOGICS(207940)(1.09%), KB Financial Group(105560)(0.46%), and Celltrion(068270)(0.72%) are on the rise. Conversely, SKSQUARE(402340)(-0.26%), LG Energy Solution(373220)(-2.48%), and SamsungElectroMechanics(009150)(-2.05%) are on the decline.

At the same time, the KOSDAQ is trading at 737.01, down 14.68 points (1.95%) from the previous close. The index opened at 742.17, down 9.52 points (1.27%) from the previous trading day, and has been fluctuating since then.

By investor type, retail investors are net buyers of 14.5 billion won, while foreign and institutional investors are net sellers of 7.0 billion won and 7.2 billion won, respectively.

The two stocks with the highest market capitalizations are also both down. Alteogen Inc.(196170)is trading at 221,500 won, down 3,000 won (1.34%) from the previous close, while ECOPRO CO., LTD(086520)is trading at 71,000 won, down 1,700 won (2.34%).

In addition, most of the top-market-cap stocks—including ECOPRO BM CO., LTD.(247540)(-2.69%), JUSUNG ENGINEERING Co.,Ltd.(036930)(-3.22%), and HLB INC.(028300)(-1.78%)—are trading lower. Meanwhile, Rainbow Robotics(277810)(3.40%) and ROBOTIS(108490)(8.44%) are among those posting gains.

Securities analysts expect the domestic stock market this week to see increased volatility driven by the outcomes of major events rather than establishing a clear direction. Scheduled for this week are the October FOMC meeting and the release of the September Personal Consumption Expenditures (PCE) Price Index in the U.S. It will also be a “super week” with major U.S. tech companies—including Amazon, Alphabet, and Microsoft—set to release their earnings reports one after another.

Han Ji-young, an analyst at KIWOOM Securities, noted in a report today, “It is a relief that the KOSPI managed to rebound—driven by perceptions of oversold conditions and SK hynix’s announcement that it has suspended its review of Solidigm’s IPO—after plunging more than 4% during trading last Friday.” However, she added, “It is difficult to say that the market has fully escaped the negative environment, which includes concerns over Big Tech companies’ profitability and the burdens of high interest rates and high oil prices.”

She continued, “The earnings reports and conference calls from SamsungElectronics and SK hynix are key events that could shift the market sentiment,” and predicted, “Whether earnings reliability is restored and additional shareholder return policies are concretized will be a turning point in calming stock price and supply-demand volatility.”