KOSPI closes up 0.68% at 6,743 amid mixed large-caps
South Korea’s benchmark KOSPI rose 0.68% to 6,743 as retail and institutions bought, while foreign investors sold KRW 3.82 trillion and large-cap moves were mixed.
The benchmark KOSPI rose 0.68% to close at 6,743 on Tuesday, rebounding from the previous session as retail and institutional investors stepped in to buy Korean shares.
Large-cap performance was mixed, with SK hynix rising 0.42%, along with Hyundai Motor (1.69%), KB Financial Group (2.02%), and Kia Corporation (2.59%), while Samsung Electronics was flat and SK Square (-1.49%) and LG Energy Solution (-3.45%) posted losses.
Investors looked ahead to Nvidia’s earnings report for clues on the outlook for AI-related investments, while concerns over the profitability of AI spending continued to weigh on technology stocks.
Foreign investors remained net sellers, offloading KRW 3.82 trillion, while individuals and institutions bought KRW 1.0 trillion and KRW 1.17 trillion, respectively.
Meanwhile, sentiment was tempered by geopolitical tensions in the Middle East and uncertainty over the US monetary policy outlook ahead of Fed Governor Kevin Warsh’s speech at Jackson Hole on Friday.