Kospi Index Today 02 October 2024

Kospi Index Today as on 02 October opened lower by 0.89% or 23 points and traded negatively .

Experts believe that this downturn is largely caused by rising geopolitical tension middle Eest.

Iran has launched missile strike against Israel, therefore tension among the Nations have increased.

The global instability has great impact on the market and the kospi index.

Nasdaq and Dow Jones has also contributed to the trend and traded negatively.

Within South korea major stocks like Samsung electronics has dropped 1.3% ans Sk Hynix has dropped by 1.66% following the broader market weakness.

Auto manufacturing industry has has also been affected and stocks like Hyundai motors which is down by 2.5% and KEA motors down by 1.3%.

kospi index is already in pressure due to previous sell-offs.

The local currency the Korean won has also weakend and trading at 1321.6 on for US dollar.

Expert believe that the main reason behind The fall of kospi index is jio political tension and fear.

The local korean currency has also weakened and trading at 1321.6 won per US dollar.

sensitivity of financial market to global events is the main cause behind the fall of cospi index today.

Technical Analysis Kospi Index

today cospi indexed open at 2566.55 created high of 2591.61 and low of 2555.46.

in the first 3 hours of trading session index was trading in green but ine last session of almost 3 hours it closes around the opening.

that is why a small doji candle was formed. It created confusion among the investor or trader.

Kospi index closes at 2561.70, with a decline of 31.57 points or with a negative return of 1.22%. in one day.

index has given a negative return of -3.43% in last 5 days and -4.5% In last one month.

index has also given a negative return of -5.61% in last 6 month.

If you are looking for a resistance of short time frame then it probably be 2600 which is psychological level too.

if the index succeed to trade above 2600 level then the 2nd resistance will be 2670 and third resistance will be 2700.

At the support side 2500 level will play a great crucial support for the kospi index.

If geo political situation worsen then the second support will be 245-2460

And the third support will be definitely 2400 which has worked as a very crucial level for the index.

In recent days Kospi Index has negatively performed and has given negative returns.

Geo political situation has also created fear on broader level, which has negatively impacted the Korean index.

what is your opinion about the index performance please comment us.