[Edaily Reporter Kim Hyung-il ] The KOSPI plunged more than 4% during the session as profit-taking in U.S. tech stocks coincided with selling by foreign investors. Although the index partially recovered from its intraday low thanks to bargain-hunting by retail investors, weakness continues, particularly in semiconductor stocks. In contrast, the KOSDAQ turned higher, buoyed by strength in the pharmaceutical and general services sectors, showing a divergent trend from the KOSPI.

According to MP Doctor on the 6th, as of 1:38 p.m., the KOSPI was trading at 6,311.48, down 286.78 points (4.35%) from the previous trading day. It briefly fell to 6,238.32 during the session—a plunge of 359.94 points (5.46%)—but subsequently recovered to the 6,300 level. The KOSDAQ index rose 4.35 points (0.54%) to 803.94.

In terms of trading activity, foreign investors led the index lower with net sales of 2.5209 trillion won in the KOSPI market. Retail investors made net purchases of 2.7033 trillion won, taking advantage of the lower prices, while institutional investors made net sales of 269.4 billion won. In the KOSDAQ market, retail investors and institutions made net purchases of 147.9 billion won and 88.1 billion won, respectively, while foreign investors made net sales of 234.8 billion won.

Among the top market-cap stocks, declines were particularly pronounced in semiconductor stocks. As of 1:38 p.m., SamsungElectronics(005930)was down 6.2%, SK hynix(000660)was down 9.89%, SamsungElectroMechanics(009150)was down 8.41%, and SKSQUARE(402340)was down 11.8%. In contrast, LG Energy Solution(373220)(0.89%) and SAMSUNG BIOLOGICS(207940)(0.67%) posted gains. Early in the session, SK hynix(000660)opened at 1,168,000 won on the Nextrade (NXT) pre-market—a 29.97% drop from the previous trading day’s close—based on just 11 shares traded, but it quickly narrowed its losses after the Volatility Interruption (VI) mechanism was triggered.

By sector, electrical and electronics (-7.31%) and medical and precision instruments (-4.93%) led the decline. In contrast, metals (4.62%), construction (2.69%), food, beverages, and tobacco (2.04%), and chemicals (1.68%) showed strength. Among individual stocks, KoreaZinc(010130)rose more than 12% on the back of rising gold prices and 106 consecutive quarters of profitability, while APR(278470)also posted gains in the 3% range following its record-high second-quarter earnings and upward revisions to analysts’ target prices. In contrast, HYUNDAIDEPARTMENTSTORECO.,LTD(069960)fell more than 4% despite strong performance at its department stores and duty-free shops, due to weak results from its subsidiaries. On the KOSDAQ, the general services (3.38%) and pharmaceutical (2.18%) sectors rose, while the electrical and electronics (-0.92%) and machinery and equipment (-0.89%) sectors were weak.

This market trend is believed to have been influenced by the overnight correction in U.S. tech stocks. The New York stock market showed mixed results, with the Dow Jones Industrial Average hitting a record high, while the S&P 500 and the Nasdaq Composite Index declined. Although NVIDIA rose, profit-taking selling emerged, particularly in stocks such as AMD and Alphabet, and the Philadelphia Semiconductor Index (SOX) also fell. Analysts suggest that after-hours earnings guidance from SanDisk and Western Digital (WDC), which fell short of market expectations, also weighed on investor sentiment toward memory semiconductors.

Kang Jin-hyuk, an analyst at Shinhan Investment Securities, said, “Short-term profit-taking centered on U.S. semiconductor stocks is causing the domestic stock market to undergo a correction, particularly among large-cap semiconductor stocks,” adding, “As oil prices and interest rates remain stable, rotational trading is occurring toward defensive stocks—such as financials, telecommunications, and food and beverages—as well as certain sectors showing improved earnings.”

Kim Ju-yeon, an analyst at MIRAE ASSET SECURITIES, analyzed, “Although the KOSPI is showing weakness due to a correction centered on tech stocks, the macroeconomic environment appears to be stabilizing as the dollar-won exchange rate has fallen to the 1,410 won range,” adding, “A differentiated market trend is continuing, centered on stocks and sectors with earnings momentum.”