On November 28, the KOSPI fell back sliding into the 3,920 range as foreign investors turned to net sellers for the first time in four sessions. In contrast, foreign buying shifted toward the KOSDAQ market, driving a sharp rally that pushed the index back above 900.
The KOSPI closed at 3,926.59, down 60.32 points (1.51%) from the previous session, marking its first decline since November 24. The index began the session at 3,995.30, up 8.39 points (0.21%), but soon reversed direction and extended losses, at one point touching 3,921.89.
As of 3:30 p.m., the won–dollar exchange rate in the Seoul foreign exchange market stood at 1,470.6 won, up 5.7 won from the previous day.
In the main market, foreign investors offloaded 2.041 trillion won, pulling the index lower, while retail investors and institutions recorded net purchases of 1.5686 trillion won and 459.3 billion won, respectively. Foreign investors also posted 158.1 billion won in net selling in KOSPI200 futures.
With U.S. markets closed overnight for Thanksgiving, Morgan Stanley warned that Oracle’s aggressive AI data center expansion—including the “Stargate Project”—could drive debt levels sharply higher and trigger a surge in credit default swap (CDS) premiums.
This contributed to downward pressure on the KOSPI, particularly among semiconductor stocks.
The index declined further following news that lawmakers reached agreement on a tax reform plan to create a new bracket for dividend income above 5 billion won, applying a top tax rate of 30%.
Market reactions were mixed: some noted the top rate is higher than the 25% capital gains tax applied to major shareholders, while others viewed it as a step forward that could encourage more active corporate dividend payouts.
Among large-cap stocks, Samsung Electronics(005930) fell 2.90% and SK hynix(000660) declined 2.57%, dragging the index lower.
LG Energy Solution(373220) plunged 6.85%, while Samsung Biologics(207940) lost 2.37%, Doosan Enerbility(034020) fell 1.55%, HD Hyundai Heavy Industries(329180) slid 3.43%, and Hanwha Aerospace(012450) dropped 1.27%.
Meanwhile, KB Financial Group(105560) gained 0.89%, Kia(000270) edged up 0.09%, and Celltrion(068270) rose 0.22%.
By sector, electrical and electronics (-2.85%), distribution (-1.72%), and chemicals (-1.27%) declined, while medical precision (1.73%) and construction (1.42%) advanced.
The KOSDAQ, however, surged 32.61 points (3.71%) to close at 912.67, reclaiming the 900 level on a closing basis for the first time in nine sessions. The day’s gain marked the strongest since April 10, when the index rose 5.97%. The index opened 8.69 points (0.99%) higher at 888.75 and extended gains throughout the session.
Investor sentiment strengthened amid media reports that financial authorities are preparing to unveil new measures to boost the KOSDAQ market.
Lee Kyung-min, analyst at Daishin Securities, said, “Reports that the government and regulators are preparing a ‘KOSDAQ 1000 Plan’ strongly lifted investor sentiment in the market,” adding that “foreign funds shifted from the KOSPI to the KOSDAQ.”
Foreign and institutional investors purchased 492.1 billion won and 602.5 billion won, respectively, while individuals sold 1.0437 trillion won.
Kolon TissueGene(950160) jumped 23.95% and approached a 24% surge. EcoPro BM(247540) rose 1.97%, EcoPro(086520) climbed 3.17%, Alteogen(196170) gained 2.30%, ABL Bio(298380) surged 7.55%, and LigaChem Biosciences(141080) advanced 6.97%.
Enchem(348370) also soared 16.39% on expectations of a large-scale supply contract with a Chinese battery producer.
Wonik Holdings(030530) fell 1.04%, and GemVax(082270) plunged 12.47%.
Of the 1,737 stocks traded on the KOSDAQ, 1,366—about 80%—closed higher.
Total trading value in the KOSPI market reached 11.902 trillion won, down 1.107 trillion won from the previous session, while KOSDAQ trading value increased by 3.058 trillion won to 11.668 trillion won.
On November 28, the KOSPI fell back sliding into the 3,920 range as foreign investors turned to net sellers for the first time in four sessions. In contrast, foreign buying shifted toward the KOSDAQ market, driving a sharp rally that pushed the index back above 900.
The KOSPI closed at 3,926.59, down 60.32 points (1.51%) from the previous session, marking its first decline since November 24. The index began the session at 3,995.30, up 8.39 points (0.21%), but soon reversed direction and extended losses, at one point touching 3,921.89.
As of 3:30 p.m., the won–dollar exchange rate in the Seoul foreign exchange market stood at 1,470.6 won, up 5.7 won from the previous day.
In the main market, foreign investors offloaded 2.041 trillion won, pulling the index lower, while retail investors and institutions recorded net purchases of 1.5686 trillion won and 459.3 billion won, respectively. Foreign investors also posted 158.1 billion won in net selling in KOSPI200 futures.
With U.S. markets closed overnight for Thanksgiving, Morgan Stanley warned that Oracle’s aggressive AI data center expansion—including the “Stargate Project”—could drive debt levels sharply higher and trigger a surge in credit default swap (CDS) premiums.
This contributed to downward pressure on the KOSPI, particularly among semiconductor stocks.
The index declined further following news that lawmakers reached agreement on a tax reform plan to create a new bracket for dividend income above 5 billion won, applying a top tax rate of 30%.
Market reactions were mixed: some noted the top rate is higher than the 25% capital gains tax applied to major shareholders, while others viewed it as a step forward that could encourage more active corporate dividend payouts.
Among large-cap stocks, Samsung Electronics(005930) fell 2.90% and SK hynix(000660) declined 2.57%, dragging the index lower.
LG Energy Solution(373220) plunged 6.85%, while Samsung Biologics(207940) lost 2.37%, Doosan Enerbility(034020) fell 1.55%, HD Hyundai Heavy Industries(329180) slid 3.43%, and Hanwha Aerospace(012450) dropped 1.27%.
Meanwhile, KB Financial Group(105560) gained 0.89%, Kia(000270) edged up 0.09%, and Celltrion(068270) rose 0.22%.
By sector, electrical and electronics (-2.85%), distribution (-1.72%), and chemicals (-1.27%) declined, while medical precision (1.73%) and construction (1.42%) advanced.
The KOSDAQ, however, surged 32.61 points (3.71%) to close at 912.67, reclaiming the 900 level on a closing basis for the first time in nine sessions. The day’s gain marked the strongest since April 10, when the index rose 5.97%. The index opened 8.69 points (0.99%) higher at 888.75 and extended gains throughout the session.
Investor sentiment strengthened amid media reports that financial authorities are preparing to unveil new measures to boost the KOSDAQ market.
Lee Kyung-min, analyst at Daishin Securities, said, “Reports that the government and regulators are preparing a ‘KOSDAQ 1000 Plan’ strongly lifted investor sentiment in the market,” adding that “foreign funds shifted from the KOSPI to the KOSDAQ.”
Foreign and institutional investors purchased 492.1 billion won and 602.5 billion won, respectively, while individuals sold 1.0437 trillion won.
Kolon TissueGene(950160) jumped 23.95% and approached a 24% surge. EcoPro BM(247540) rose 1.97%, EcoPro(086520) climbed 3.17%, Alteogen(196170) gained 2.30%, ABL Bio(298380) surged 7.55%, and LigaChem Biosciences(141080) advanced 6.97%.
Enchem(348370) also soared 16.39% on expectations of a large-scale supply contract with a Chinese battery producer.
Wonik Holdings(030530) fell 1.04%, and GemVax(082270) plunged 12.47%.
Of the 1,737 stocks traded on the KOSDAQ, 1,366—about 80%—closed higher.
Total trading value in the KOSPI market reached 11.902 trillion won, down 1.107 trillion won from the previous session, while KOSDAQ trading value increased by 3.058 trillion won to 11.668 trillion won.