SEOUL - The Korea Composite Stock Price Index (KOSPI) showed minimal movement late Monday morning, reflecting a cautious optimism among investors for a recovery in South Korea's exports. By 11:20 a.m., the KOSPI had risen marginally by 0.55 point or 0.02 percent, reaching 2,410.21. The index opened slightly higher, buoyed by news from the customs office indicating a 3.2 percent year-on-year increase in the country's exports for the first ten days of the month.
According to Yonhap News Agency, this uplift was partly driven by a 1.3 percent rise in semiconductor shipments, the first increase since August 2022. However, investor sentiment remained tempered following Moody's decision to downgrade the United States' rating outlook to "negative" from "stable," citing risks posed by Congressional deadlock over spending. In Seoul, large cap stocks traded mixed, with market bellwether Samsung Electronics remaining unchanged, while second-largest chipmaker SK hynix gained 1 percent. Conversely, leading battery maker LG Energy Solution dropped by 0.24 percent, and top automaker Hyundai Motor saw a modest increase of 0.12 percent. The local currency, the won, was trading at 1,322.35 against the U.S. dollar, down by 5.55 won from the previous session's close.