In-Depth Analysis of KOSPI: Market Consolidation and Outlook

Market Summary

The South Korean stock market halted a two-day streak of gains on Wednesday. The KOSPI index closed at 3,472.14 points, down 14.05 points or 0.40%. This pullback suggests possible additional pressure on the index for Thursday's session.

Global Overview

The global outlook for Asian markets appears weak. Tech stocks are expected to face significant pressures. Regarding international performance:

• European markets: Showed mixed results
• U.S. stocks: Closed lower

This divergence in the Western markets could influence the sentiment of Asian investors.

Technical Analysis of the KOSPI

The KOSPI fluctuated within a range of 3,442.41 to 3,497.95 points during the session. The trading volume reached 281 million shares, with a total value of 11.3 trillion won. The distribution of movements was clearly negative:

• Declining actions: 684
• Rising Stocks: 192

This imbalance in the market direction suggests a predominant selling pressure.

Highlighted Movements by Sector

The technology and electronic components sector showed significant weakness, with LG Electronics and Samsung SDI leading the losses. On the other hand, Samsung Electronics managed to stay in positive territory, demonstrating some resilience in a generally bearish market.

Wall Street Performance

The main U.S. indices closed lower:

• Dow Jones: -171.50 points ( -0.37% ) at 46,121.28
• NASDAQ: -75.62 points ( -0.33% ) at 22,497.86
• S&P 500: -18.95 points ( -0.28% ) at 6,637.97

This decline in the U.S. markets could exert a negative influence on the opening of the Asian markets.

Factors Affecting the Markets

• Uncertainty in the technology sector: Business prospects in the field of advanced technologies are causing concern.
• Key stock performance: Nvidia fell 0.9% and Oracle 1.7%, indicating weakness in the technology sector.
• Stock valuations: The comments from the Federal Reserve chairman have raised concerns about the current valuations of stocks.

Oil Market

The price of WTI crude for delivery in November rose $1.61 (2.54%) to $65.02 per barrel. This increase is attributed to the possibility of U.S. sanctions on Russian oil exports, which could affect the global crude supply.