[Edaily Reporter Kim Hyung-il ] The KOSPI is down more than 4% in early trading as profit-taking sets in following last week’s record-breaking single-day gain of 17.9%. The KOSPI opened 3.6% lower immediately after the market opened and extended its intraday decline to the 4% range as foreign investors continued to sell. In addition to growing demand for profit-taking following last week’s sharp short-term rally, caution ahead of this week’s major U.S. economic indicators and corporate earnings announcements appears to be dampening investor sentiment.

According to MP Doctor on the 3rd, the KOSPI opened at 6,358.27, down 237.18 points (3.6%), and as of 9:09 a.m., it stands at 6,301.31, down 294.14 points (4.41%) from the previous trading day. At the same time, the KOSDAQ is trading at 713.14, down 6.62 points (0.92%) from the previous trading day.
In terms of market participants, foreign investors are leading the decline in the KOSPI market with net sales of 736.3 billion won. In contrast, retail investors are net buyers of 691.9 billion won, and institutional investors are net buyers of 31.5 billion won. In the KOSDAQ market, retail investors are net buyers by 70.6 billion won, while institutions are net sellers by 49.9 billion won and foreign investors are net sellers by 21.2 billion won. As foreign selling pressure is concentrated on large-cap stocks, including semiconductors, the index’s decline is gradually widening.
Most of the top market-cap stocks are trading lower. SamsungElectronics(005930)is down 4.76%, and SK hynix(000660)is down 4.42%. HyundaiMotor(005380)(-2.19%), LG Energy Solution(373220)(-2.29%), SAMSUNG BIOLOGICS(207940)(-1.62%), Samsung Life Insurance(032830)(-4.17%), and KB Financial Group(105560)(-0.95%) are also on the decline. In contrast, SamsungElectroMechanics(009150)is showing strength, rising 2.63%. Most of the top-market-cap stocks are trading lower as profit-taking selling pressure emerges, particularly among the large-cap semiconductor stocks that led last week’s sharp rally.
Analysts in the securities industry suggest that the market is taking a breather due to short-term profit-taking following last week’s record surge. KIWOOM Securities projected that while profit-taking and a short-term slowdown may occur early in the week, the KOSPI remains in an oversold zone and is likely to continue its recovery trend by raising its lows. In particular, the firm noted that while the KOSPI posted its largest-ever single-day gain on the 31st of last month, it still recorded a significant monthly decline, and valuations remain in historically undervalued territory. Therefore, it assessed that this correction should be interpreted as a short-term consolidation rather than a trend reversal.
Han Ji-young, an analyst at KIWOOM Securities, said, “Given that the KOSPI surged by over 17% in a single day on the 31st—marking its largest-ever daily gain—there is a possibility of temporary profit-taking and short-term momentum-adjusting selling at the start of this week.” She added, “However, since the KOSPI remains in an oversold territory, we should place greater emphasis on the possibility that it is entering a recovery path characterized by higher lows rather than a mere technical rebound.”
Currently, in the KOSPI market, large-cap stocks are down 5.12%, mid-cap stocks are down 1.26%, and small-cap stocks are up 0.24%. By sector, healthcare and precision instruments are showing strength, up 1.88%, while paper and wood (1.06%) and non-metals (0.19%) are also trending upward. In contrast, electrical and electronics (-6.27%), retail (-4.57%), and electricity and gas (-3%) are weak.
Earlier, on the 1st (local time)—the last trading day of last week—the New York stock market closed with all three major indices rising, buoyed by Amazon’s strong earnings and a rally in Big Tech stocks. The Dow Jones Industrial Average closed at 52,485.03, the S&P 500 at 7,489.72, and the Nasdaq at 25,373.85. On a weekly basis, the Dow rose 1.04%, the S&P 500 gained 1.05%, and the Nasdaq advanced 1.59%, signaling a recovery in investor sentiment, particularly among tech stocks.