On November 5, the KOSPI tumbled in early trading breaking below the 4,000 mark as a sharp overnight decline in U.S. technology stocks rattled investor sentiment.
As of 9:23 a.m., the benchmark index stood at 3,967.54, down 154.20 points (3.74%) from the previous session. The index opened at 4,055.47, a decline of 66.27 points (1.61%), and extended losses soon after.
It marked the first time in seven trading days that the KOSPI fell back into the 3,900 range, after having surpassed the 4,000 level intraday for the first time on October 27.
In the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,443.5 won per dollar, up 5.6 won from the previous close, briefly rising to 1,446.3 won, the highest level in seven months.
Foreign investors continued heavy selling, dumping 454.3 billion won worth of shares, following Thursday’s 2.228 trillion won net selling — the largest in over four years. Individuals and institutions were net buyers, purchasing 168.2 billion won and 326.1 billion won, respectively. Foreigners also offloaded 4.9 billion won in KOSPI 200 futures.
Overnight, U.S. equities slumped as high-valuation technology names faced profit-taking pressures, with the Nasdaq Composite tumbling 2.04%, leading the declines among major indexes.
NVIDIA (NVDA) dropped nearly 4% after the White House reiterated its ban on exporting the company’s latest AI chip, Blackwell, to China. Tesla (TSLA) slid 5% after Norway’s sovereign wealth fund, one of its largest shareholders, opposed CEO Elon Musk’s $1 trillion compensation package, fueling uncertainty.
Adding to the bearish tone, Goldman Sachs CEO David Solomon warned that U.S. equities could fall 10–20% over the next 12 to 24 months, further stoking risk aversion.
In Seoul, foreign-led selling concentrated in heavyweight semiconductor stocks intensified downward pressure, while the surging exchange rate also dampened investor sentiment.
Han Ji-young, analyst at Kiwoom Securities, said, “In the short term, macroeconomic uncertainty and heightened volatility in U.S. AI-related stocks could trigger additional foreign selling in Korean semiconductors, which have risen sharply in recent weeks.”
Among large-cap names, Samsung Electronics (005930) plunged 4.77%, falling below the 100,000-won level, while SK Hynix (000660) slumped 5.63% to the 550,000-won range.
EV-related stocks also tumbled following Tesla’s decline, with LG Energy Solution (373220) down 2.43%, Samsung SDI (006400) off 7.41%, and POSCO Holdings (005490) losing 3.84%.
Other major decliners included Hyundai Motor (005380) (-3.80%), Kia (000270) (-2.19%), Doosan Enerbility (034020) (-7.49%), and Hanwha Aerospace (012450) (-3.96%).
In contrast, Celltrion (068270) rose 0.85%, Samsung Fire & Marine Insurance (000810) gained 0.67%, and Meritz Financial Group (138040) added 0.53%.
By sector, electrical and electronics (-4.76%), construction (-3.98%), and transportation equipment (-3.96%) led the declines, while telecommunications (+0.69%) and pharmaceuticals (+0.17%) edged higher.
At the same time, the KOSDAQ fell 34.76 points (3.75%) to 891.81. The index opened 7.29 points (0.79%) lower at 919.28, before extending losses and slipping below the 900 mark.
In the secondary market, foreign and institutional investors net sold 177.3 billion won and 6 billion won, respectively, while individuals bought 185.9 billion won.
Among major names, EcoPro BM (247540) fell 3.83%, EcoPro (086520) lost 4.49%, Alteogen (196170) dropped 2.73%, Peptron (087010) sank 4.60%, and ABL Bio (298380) slid 4.77%.
Meanwhile, HLB (028300) gained 2.43%, D&D Pharmatech (227610) rose 4.65%, and Oscotec (039200) added 0.53%.
On November 5, the KOSPI tumbled in early trading breaking below the 4,000 mark as a sharp overnight decline in U.S. technology stocks rattled investor sentiment.
As of 9:23 a.m., the benchmark index stood at 3,967.54, down 154.20 points (3.74%) from the previous session. The index opened at 4,055.47, a decline of 66.27 points (1.61%), and extended losses soon after.
It marked the first time in seven trading days that the KOSPI fell back into the 3,900 range, after having surpassed the 4,000 level intraday for the first time on October 27.
In the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,443.5 won per dollar, up 5.6 won from the previous close, briefly rising to 1,446.3 won, the highest level in seven months.
Foreign investors continued heavy selling, dumping 454.3 billion won worth of shares, following Thursday’s 2.228 trillion won net selling — the largest in over four years. Individuals and institutions were net buyers, purchasing 168.2 billion won and 326.1 billion won, respectively. Foreigners also offloaded 4.9 billion won in KOSPI 200 futures.
Overnight, U.S. equities slumped as high-valuation technology names faced profit-taking pressures, with the Nasdaq Composite tumbling 2.04%, leading the declines among major indexes.
NVIDIA (NVDA) dropped nearly 4% after the White House reiterated its ban on exporting the company’s latest AI chip, Blackwell, to China. Tesla (TSLA) slid 5% after Norway’s sovereign wealth fund, one of its largest shareholders, opposed CEO Elon Musk’s $1 trillion compensation package, fueling uncertainty.
Adding to the bearish tone, Goldman Sachs CEO David Solomon warned that U.S. equities could fall 10–20% over the next 12 to 24 months, further stoking risk aversion.
In Seoul, foreign-led selling concentrated in heavyweight semiconductor stocks intensified downward pressure, while the surging exchange rate also dampened investor sentiment.
Han Ji-young, analyst at Kiwoom Securities, said, “In the short term, macroeconomic uncertainty and heightened volatility in U.S. AI-related stocks could trigger additional foreign selling in Korean semiconductors, which have risen sharply in recent weeks.”
Among large-cap names, Samsung Electronics (005930) plunged 4.77%, falling below the 100,000-won level, while SK Hynix (000660) slumped 5.63% to the 550,000-won range.
EV-related stocks also tumbled following Tesla’s decline, with LG Energy Solution (373220) down 2.43%, Samsung SDI (006400) off 7.41%, and POSCO Holdings (005490) losing 3.84%.
Other major decliners included Hyundai Motor (005380) (-3.80%), Kia (000270) (-2.19%), Doosan Enerbility (034020) (-7.49%), and Hanwha Aerospace (012450) (-3.96%).
In contrast, Celltrion (068270) rose 0.85%, Samsung Fire & Marine Insurance (000810) gained 0.67%, and Meritz Financial Group (138040) added 0.53%.
By sector, electrical and electronics (-4.76%), construction (-3.98%), and transportation equipment (-3.96%) led the declines, while telecommunications (+0.69%) and pharmaceuticals (+0.17%) edged higher.
At the same time, the KOSDAQ fell 34.76 points (3.75%) to 891.81. The index opened 7.29 points (0.79%) lower at 919.28, before extending losses and slipping below the 900 mark.
In the secondary market, foreign and institutional investors net sold 177.3 billion won and 6 billion won, respectively, while individuals bought 185.9 billion won.
Among major names, EcoPro BM (247540) fell 3.83%, EcoPro (086520) lost 4.49%, Alteogen (196170) dropped 2.73%, Peptron (087010) sank 4.60%, and ABL Bio (298380) slid 4.77%.
Meanwhile, HLB (028300) gained 2.43%, D&D Pharmatech (227610) rose 4.65%, and Oscotec (039200) added 0.53%.