KOSPI Index Rises Over 3% Amid Optimism from U.S. Government Shutdown Resolution
The KOSPI index has shown a strong rise of over 3%, currently up by 3.25% at 4082.45 as of 2:50 PM, according to the Korea Exchange. This positive momentum is attributed to increasing expectations surrounding the potential resolution of the U.S. government shutdown and movements by the government to ease the separate taxation on dividend income, which has led to an influx of buying interest in the market.
Despite individual investors recording a net sell of 1.1729 trillion won and foreign investors selling 36.9 billion won, institutional investors have significantly contributed to the indexs climb with a net purchase of 1.2256 trillion won.
Most of the large-cap stocks are experiencing notable gains, with Samsung Electronics rising by 3.06% and SK Hynix up by 5.34%. Hanwha Aerospace also showed a robust increase of 4.66%. In the securities sector, SamSung Securities surged by 10.26%, while other firms like NH Investment & Securities (9.88%), Shin Young Securities (9.26%), Kiwoom Securities (8.53%), Eugene Investment & Securities (8.83%), and SK Securities (7.40%) also saw significant increases. Similarly, major financial stocks such as Hana Financial Group (5.43%), KB Financial (5.17%), iM Financial Group (5.10%), and BNK Financial Group (4.90%) are also rising sharply.
The KOSDAQ index has also experienced an uptick of 1.33%, currently trading at 888.43, although foreign investors have recorded a net sell of 44.7 billion won. Institutions and individual investors have been net buyers, purchasing 37.7 billion won and 6.9 billion won respectively. Among the top market capitalization stocks, EcoPro BM (2.05%), HLB (3.05%), Kolon TissueGene (7.01%), and EO Technics (6.87%) are showing upward trends.
Recently, the government and the ruling party have been converging on the idea of lowering the maximum tax rate on separate taxation of dividend income from the previously proposed 35%. It has been reported that there is consensus among some Democratic Party members to reduce it to as low as 25%. This is seen as a potential benefit for high-dividend stocks, particularly in the banking and financial sectors, which are anticipated to gain from these changes.
The resolution of the U.S. government shutdown is also acting as a positive catalyst for the stock market, enhancing overall investor sentiment.
Despite individual investors recording a net sell of 1.1729 trillion won and foreign investors selling 36.9 billion won, institutional investors have significantly contributed to the indexs climb with a net purchase of 1.2256 trillion won.
Most of the large-cap stocks are experiencing notable gains, with Samsung Electronics rising by 3.06% and SK Hynix up by 5.34%. Hanwha Aerospace also showed a robust increase of 4.66%. In the securities sector, SamSung Securities surged by 10.26%, while other firms like NH Investment & Securities (9.88%), Shin Young Securities (9.26%), Kiwoom Securities (8.53%), Eugene Investment & Securities (8.83%), and SK Securities (7.40%) also saw significant increases. Similarly, major financial stocks such as Hana Financial Group (5.43%), KB Financial (5.17%), iM Financial Group (5.10%), and BNK Financial Group (4.90%) are also rising sharply.
The KOSDAQ index has also experienced an uptick of 1.33%, currently trading at 888.43, although foreign investors have recorded a net sell of 44.7 billion won. Institutions and individual investors have been net buyers, purchasing 37.7 billion won and 6.9 billion won respectively. Among the top market capitalization stocks, EcoPro BM (2.05%), HLB (3.05%), Kolon TissueGene (7.01%), and EO Technics (6.87%) are showing upward trends.
Recently, the government and the ruling party have been converging on the idea of lowering the maximum tax rate on separate taxation of dividend income from the previously proposed 35%. It has been reported that there is consensus among some Democratic Party members to reduce it to as low as 25%. This is seen as a potential benefit for high-dividend stocks, particularly in the banking and financial sectors, which are anticipated to gain from these changes.
The resolution of the U.S. government shutdown is also acting as a positive catalyst for the stock market, enhancing overall investor sentiment.
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