On November 4, the KOSPI tumbled retreating to the 4,120 level as profit-taking in major semiconductor stocks triggered a broad sell-off. The benchmark index fell after foreign investors recorded their largest net selling in more than four years.
The KOSPI closed at 4,121.74, down 100.13 points (2.37%) from the previous session. The index opened 2.63 points (0.06%) lower at 4,219.24, briefly turned positive, but soon reversed course and deepened losses, touching an intraday low of 4,117.91.
The sharp drop came just a day after the index had closed above the 4,200 mark for the first time ever.
As of 3:30 p.m., the won-dollar exchange rate stood at 1,437.9 won, up 9.1 won from the previous day.
In the main bourse, foreign investors net sold 2.2232 trillion won, while institutional investors offloaded 498.4 billion won, both dragging the market down.
According to the Korea Exchange, the day’s foreign net selling was the largest since August 13, 2021 (2.699 trillion won). Back then, concerns over DRAM price declines and a weaker won triggered uncertainty in the semiconductor sector, leading to heavy foreign sell-offs.
Foreign investors also sold 1.14 trillion won in KOSPI 200 futures. In contrast, retail investors bought 2.6894 trillion won, marking their largest net purchase since August 2021.
Overnight, Wall Street saw mixed results, with gains in tech stocks offset by declines in other sectors. NVIDIA (2.17%) rose on reports of Microsoft’s large-scale investment in the UAE, while Amazon (4.00%) gained on a major contract with OpenAI.
In Seoul, profit-taking dominated after a strong rally in semiconductor shares the previous session. On November 3, Samsung Electronics (005930) and SK Hynix (000660) had surged 3.35% and 10.91%, respectively, hitting record highs of 110,000 won and 620,000 won. Samsung’s rally also lifted the combined market capitalization of Samsung Group companies above 1,000 trillion won for the first time.
However, heavy foreign selling in chipmakers led the broader market lower.
Lee Kyung-min, analyst at Daishin Securities, said, “The KOSPI entered a consolidation phase after pricing in optimism related to the upcoming APEC summit and recent sharp gains,” adding that “the pullback in Samsung Electronics and SK Hynix, along with declines in auto and shipbuilding stocks that had rallied on tariff-cut and MASGA (Korea-U.S. shipbuilding cooperation) expectations, weighed on the index.”
A sharp rise in the won-dollar exchange rate also dampened foreign investor sentiment.
Among top-cap stocks, SK Hynix tumbled 5.48% to the 580,000-won range, while Samsung Electronics slumped 5.58% to just above 100,000 won.
Other major decliners included Hyundai Motor (005380) (-5.32%), Kia (000270) (-2.80%), Hanwha Aerospace (012450) (-3.07%), HD Hyundai Heavy Industries (329180) (-6.59%), Hanwha Ocean (042660) (-1.59%), and NAVER (035420) (-2.73%).
Brokerage stocks that had rallied on expectations of strong earnings, such as Kiwoom Securities (039490) (-4.44%) and SK Securities (001510) (-2.73%), also declined.
On the upside, Samsung SDI (006400) jumped 3.21%, hitting a 52-week high on reports that it had signed an energy storage system (ESS) battery supply contract with Tesla. KB Financial Group (105560) rose 3.31%, and Celltrion (068270) added 0.97%.
Oil refiners gained after reports that OPEC+ members agreed to halt production increases in the first quarter of next year. S-Oil (010950) climbed 6.92%, and GS Holdings (078930) added 1.24%.
By sector, electrical and electronics (-4.33%), transport equipment (-3.61%), and securities (-4.87%) fell, while pharmaceuticals (+1.16%), food and beverages (+1.80%), and chemicals (+0.44%) rose.
Meanwhile, the KOSDAQ advanced for a third consecutive session, closing at 926.57, up 12.02 points (1.31%). The index opened slightly higher at 914.87, briefly turned lower, but rebounded to extend gains.
In the KOSDAQ market, foreign investors and institutions net bought 230 billion won and 166.2 billion won, respectively, while retail investors sold 365.2 billion won.
HLB (028300) surged 13.68% after news that U.K.-based global asset manager LMR Partners made a large strategic investment in the company. Other gainers included Alteogen (196170) (+4.97%), EcoPro (086520) (+0.95%), Rainbow Robotics (277810) (+1.85%), and Peptron (087010) (+3.04%).
Meanwhile, EcoPro BM (247540) (-1.88%), PharmaResearch (214450) (-1.11%), and Robotis (108490) (-2.00%) declined.
Total trading value amounted to 20.756 trillion won on the KOSPI and 12.075 trillion won on the KOSDAQ.
On November 4, the KOSPI tumbled retreating to the 4,120 level as profit-taking in major semiconductor stocks triggered a broad sell-off. The benchmark index fell after foreign investors recorded their largest net selling in more than four years.
The KOSPI closed at 4,121.74, down 100.13 points (2.37%) from the previous session. The index opened 2.63 points (0.06%) lower at 4,219.24, briefly turned positive, but soon reversed course and deepened losses, touching an intraday low of 4,117.91.
The sharp drop came just a day after the index had closed above the 4,200 mark for the first time ever.
As of 3:30 p.m., the won-dollar exchange rate stood at 1,437.9 won, up 9.1 won from the previous day.
In the main bourse, foreign investors net sold 2.2232 trillion won, while institutional investors offloaded 498.4 billion won, both dragging the market down.
According to the Korea Exchange, the day’s foreign net selling was the largest since August 13, 2021 (2.699 trillion won). Back then, concerns over DRAM price declines and a weaker won triggered uncertainty in the semiconductor sector, leading to heavy foreign sell-offs.
Foreign investors also sold 1.14 trillion won in KOSPI 200 futures. In contrast, retail investors bought 2.6894 trillion won, marking their largest net purchase since August 2021.
Overnight, Wall Street saw mixed results, with gains in tech stocks offset by declines in other sectors. NVIDIA (2.17%) rose on reports of Microsoft’s large-scale investment in the UAE, while Amazon (4.00%) gained on a major contract with OpenAI.
In Seoul, profit-taking dominated after a strong rally in semiconductor shares the previous session. On November 3, Samsung Electronics (005930) and SK Hynix (000660) had surged 3.35% and 10.91%, respectively, hitting record highs of 110,000 won and 620,000 won. Samsung’s rally also lifted the combined market capitalization of Samsung Group companies above 1,000 trillion won for the first time.
However, heavy foreign selling in chipmakers led the broader market lower.
Lee Kyung-min, analyst at Daishin Securities, said, “The KOSPI entered a consolidation phase after pricing in optimism related to the upcoming APEC summit and recent sharp gains,” adding that “the pullback in Samsung Electronics and SK Hynix, along with declines in auto and shipbuilding stocks that had rallied on tariff-cut and MASGA (Korea-U.S. shipbuilding cooperation) expectations, weighed on the index.”
A sharp rise in the won-dollar exchange rate also dampened foreign investor sentiment.
Among top-cap stocks, SK Hynix tumbled 5.48% to the 580,000-won range, while Samsung Electronics slumped 5.58% to just above 100,000 won.
Other major decliners included Hyundai Motor (005380) (-5.32%), Kia (000270) (-2.80%), Hanwha Aerospace (012450) (-3.07%), HD Hyundai Heavy Industries (329180) (-6.59%), Hanwha Ocean (042660) (-1.59%), and NAVER (035420) (-2.73%).
Brokerage stocks that had rallied on expectations of strong earnings, such as Kiwoom Securities (039490) (-4.44%) and SK Securities (001510) (-2.73%), also declined.
On the upside, Samsung SDI (006400) jumped 3.21%, hitting a 52-week high on reports that it had signed an energy storage system (ESS) battery supply contract with Tesla. KB Financial Group (105560) rose 3.31%, and Celltrion (068270) added 0.97%.
Oil refiners gained after reports that OPEC+ members agreed to halt production increases in the first quarter of next year. S-Oil (010950) climbed 6.92%, and GS Holdings (078930) added 1.24%.
By sector, electrical and electronics (-4.33%), transport equipment (-3.61%), and securities (-4.87%) fell, while pharmaceuticals (+1.16%), food and beverages (+1.80%), and chemicals (+0.44%) rose.
Meanwhile, the KOSDAQ advanced for a third consecutive session, closing at 926.57, up 12.02 points (1.31%). The index opened slightly higher at 914.87, briefly turned lower, but rebounded to extend gains.
In the KOSDAQ market, foreign investors and institutions net bought 230 billion won and 166.2 billion won, respectively, while retail investors sold 365.2 billion won.
HLB (028300) surged 13.68% after news that U.K.-based global asset manager LMR Partners made a large strategic investment in the company. Other gainers included Alteogen (196170) (+4.97%), EcoPro (086520) (+0.95%), Rainbow Robotics (277810) (+1.85%), and Peptron (087010) (+3.04%).
Meanwhile, EcoPro BM (247540) (-1.88%), PharmaResearch (214450) (-1.11%), and Robotis (108490) (-2.00%) declined.
Total trading value amounted to 20.756 trillion won on the KOSPI and 12.075 trillion won on the KOSDAQ.