The Kospi Index experienced mixed performance during the week ending on October 11, 2024, but overall, the index surged by +33.21 points, marking a 1.30% increase over the past five days. The market fluctuations reflected various economic factors and stock-specific movements. By the end of the trading week on Friday, October 11, the index closed at 2,596.91, with a minor decline of 0.09% (-2.25 points) for the day.

Key Developments:

  • October 7, 2024: The week started on a positive note with the Kospi surging 1.58%, closing at 2,610.38. The day’s trading saw a significant trading volume of 343 million shares and a total market capitalization of 2,129 trillion KRW.
  • October 8, 2024: The market witnessed a slight pullback, with the index closing at 2,594.36, down by 0.61%. Trading volumes dropped to 318 million shares, marking a quiet day compared to the prior session.
  • October 10, 2024: A mid-week recovery saw the index rise by 0.19%, closing at 2,599.16, fueled by an increase in trading volumes to 618 million shares. However, the recovery momentum was short-lived, with only minor gains reflected.
  • October 11, 2024: The week closed with the Kospi slipping by 0.09% to 2,596.91. Despite the decline, the market remained stable, and trading volumes reached 491 million shares, indicating moderate investor activity.

Performance of Key Stocks:

Several major stocks in the Kospi Index saw notable changes in performance:

  • Samsung Electronics closed the week at 59,300 KRW, marking a 0.68% increase. The company’s market cap reached 354 trillion KRW, indicating steady investor interest.
  • SK Hynix faced a slight dip of 0.37%, closing at 186,000 KRW. This marked a modest decline as semiconductor stocks experienced mixed sentiments during the week.
  • LG Energy Solution was one of the key underperformers, dropping by 3.75% to 411,000 KRW. The company saw a significant market cap contraction, reflecting the sector’s current challenges.
  • Hyundai Motor showed resilience, gaining 1.02% and closing at 248,500 KRW, while KIA Corp also followed the positive trend, closing at 101,100 KRW, up 0.30%.
  • Samsung Biologics was among the top gainers of the week, surging by 2.91% and closing at 1,024,000 KRW, driven by strong earnings expectations.

5-Day Overall Performance:

The Kospi index surged by +33.21 points, marking a 1.30% increase over the past five trading days, indicating a strong market recovery from earlier lows despite the fluctuations. Investors continue to keep a close watch on macroeconomic factors and sector-specific developments as the market prepares for the next trading week.

In summary, while some blue-chip stocks like Samsung Electronics and Hyundai Motor recorded gains, others like SK Hynix and LG Energy Solution saw declines. However, the overall market sentiment remained positive, as reflected in the Kospi’s 1.30% increase over the five-day period.