KOSPI closed at 2,450.08 on the 11th, up 47.50 points (1.98%). The KOSDAQ index also closed at 817.12, up 22.12 points (2.78%). The photo is Hana Bank dealing room in Jung-gu, Seoul./Yonhap News
The domestic stock market showed a sharp rise thanks to the ‘surprising’ performance of companies and the good news from the United States.
On the 11th, KOSPI closed trading at 2450.08, up 47.50 (1.98%) points from the previous day. Today’s increase is the largest increase in 11 months since the 3.37% increase on November 11 last year. Experts believe that the large rise in the KOSPI on this day was due to the upward trend of the U.S. stock market last night and the good performance of companies.
Kim Seok-hwan, a researcher at Mirae Asset Securities, said, “The U.S. stock market rose the previous day as U.S. Treasury yields fell due to the ‘dove-like’ remarks of the U.S. Federal Reserve System members, and investment sentiment improved.” “The secondary battery industry showed strong performance and led the index rise,” he said.
Samsung Electronics announced this morning that “sales for the third quarter of this year (July to September) were tentatively estimated at 67 trillion won and operating profit at 2.4 trillion won.” Compared to the third quarter of last year, both sales (-12.74%) and operating profit (-77.88%) decreased, but compared to the first and second quarters of this year, it is a significant improvement. Samsung’s operating profit in the first quarter of this year was KRW 640.2 billion, marking the first quarterly operating profit below KRW 1 trillion in 14 years since the first quarter of 2009 (KRW 590 billion), and only KRW 668.5 billion in the second quarter.
Samsung Electronics’ stock price rose 2.71% to 68,200 won as its quarterly operating profit recorded trillion won for the first time this year and greatly exceeded market expectations (2.1344 trillion won).
LG Energy Solution, ranked second in market capitalization and recording the highest performance ever, also surged 7.31% on this day. LG Energy Solutions announced on the 11th that its operating profit in the third quarter of this year was provisionally calculated to be KRW 731.2 billion, a 40.1% increase over the same period last year. This is the highest quarterly operating profit ever and exceeds the market forecast of 690 billion won.
The KOSDAQ index, which dropped to the 800 level the previous day, also successfully rebounded and recovered to the 800 level. On this day, the KOSDAQ index recorded 817.12, up 22.12 points (2.78%) from the previous day.
Secondary battery-related stocks such as EcoPro BM (9.19%), EcoPro (7.25%), and L&F (3.21%) soared, raising the overall index. The simultaneous rise in secondary battery-related stocks can be interpreted as the improvement in investment sentiment for secondary battery stocks in general thanks to the good performance of LG Energy Solution. Ecopro’s stock price, which had fallen below 800,000 won the previous day, successfully rebounded within a day and rose to 843,000 won.
Meanwhile, the won-to-dollar exchange rate on this day closed at 1338.7 won, a sharp drop of 10.8 won from the previous day. This is the first time since the 25th of last month that the exchange rate has fallen to the 1,330 won level.
2023-10-11 07:01:14
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