Overview
- After choppy trading, the KOSPI closed down 0.59% at 4,110.62 on Thursday.
- The Federal Reserve cut its key rate by 25 basis points to a 3.5–3.75% range, with Chair Jerome Powell saying policy is near neutral and the Fed is well positioned to wait and see.
- SK hynix dropped 3.75% after the Korea Exchange issued an investor warning that triggered a ban on margin purchases of the stock.
- Large caps were mixed by the close as Samsung Electronics fell 0.65% and LG Energy Solution rose 1.02%, while builders advanced.
- The won weakened to 1,473 per dollar at 3:30 p.m., down 2.6 won from the previous session.