[Edaily Reporter KIM YOON-JEONG ] The KOSPI is trading 1% lower around the 6,800 level during the session on the 28th. Despite strong earnings from NVIDIA, SamsungElectronics and SK hynix are dragging down the index with declines of over 2%, but buying momentum is spreading to sectors such as cosmetics and oil refining, leading to rotational trading across sectors. Analysts in the securities industry suggest that, amid ongoing caution over uncertainty regarding U.S. semiconductor tariffs and ahead of Federal Reserve (Fed) Chair Kevin Warsh’s speech at Jackson Hole, the KOSPI has entered a consolidation phase as it absorbs selling pressure near the 7,000 mark.

According to MP Doctor, as of 1:21 p.m. today, the KOSPI stood at 6,841.61, down 70.76 points (1.02%) from the previous trading day. The index opened at 6,846.54, down 0.95% from the previous close, and although it narrowed its losses to 6,901.78 during the session, it slipped back below the 6,800 level.
In terms of supply and demand, based on NextTrade (NXT) data, retail investors are net buyers of 531.6 billion won worth of stocks. In contrast, foreign investors and institutions are net sellers of 1.3803 trillion won and 300.1 billion won, respectively.
Overnight, the New York stock market showed strength on the back of strong earnings reports from NVIDIA and Salesforce. NVIDIA surged 8.7%, Salesforce jumped 22.6%, and the Philadelphia Semiconductor Index (SOX) also rose by more than 2%. However, in the domestic stock market, where NVIDIA’s strong earnings from the previous day had already been largely priced in, large-cap semiconductor stocks are underperforming as uncertainty over U.S. semiconductor tariffs comes into focus.
Lee Kyung-min, an analyst at DaishinSecurities, commented, “While U.S. markets were buoyant yesterday thanks to NVIDIA’s strong earnings, investor sentiment in the domestic market remains subdued as external uncertainties weigh on the market.” He added, “Furthermore, with the Jackson Hole Meeting scheduled for 11:00 p.m. tonight, caution persists ahead of this major event.”
Among the top market-cap stocks, SamsungElectronics(005930), the No. 1 company by market cap on the KOSPI, is trading at 259,500 won, down 6,500 won (2.44%) from the previous trading day. SK hynix(000660), the No. 2 company by market cap, is trading at 1.69 million won, down 40,000 won (2.31%). SamsungElectronics(1P)(005935)(-3.40%) and SKSQUARE(402340)(-1.59%) are also trading lower. In contrast, SamsungElectroMechanics(009150)is up 3.25%.
Kang Jin-hyuk, an analyst at Shinhan Investment Securities, noted, “Despite continued buying pressure from other institutional investors, Korean semiconductor stocks such as SamsungElectronics and SK hynix are underperforming,” adding that they “failed to hold the 120-day moving average.”
While the semiconductor sector takes a breather, rotational buying is emerging in some sectors. By sector, chemicals (3.14%), food & beverages/tobacco (1.97%), non-metals (1.82%), IT services (1.67%), and textiles & apparel (1.63%) are all rising. Conversely, sectors such as pharmaceuticals (-3.04%), electricity and gas (-2.71%), electrical and electronics (-1.86%), and manufacturing (-1.48%) are declining.
Among individual stocks, SAMSUNG BIOLOGICS(207940), which announced a 3 trillion won rights offering, is plunging 6.02%. LG Energy Solution(373220)(0.40%), HyundaiMotor(005380)(0.38%), Samsung Life Insurance(032830)(0.65%), SAMSUNG C&T CORPORATION(028260)(0.80%), and KB Financial Group(105560)(1.40%) are among those rising.
The KOSDAQ market is fluctuating between gains and losses within a narrow range. At this time, the KOSDAQ index stands at 837.89, up 0.24 points (0.03%) from the previous trading day. Retail investors are net buyers of 188.8 billion won worth of stocks, while foreign and institutional investors are net sellers of 173.6 billion won and 17.0 billion won, respectively.
Among the top market-cap stocks, Alteogen Inc.(196170)is up 2.89%. ECOPRO CO., LTD(086520)(-1.74%), ECOPRO BM CO., LTD.(247540)(-0.68%), and Rainbow Robotics(277810)(-3.18%) are trading lower. In contrast, LEENO Industrial Inc(058470)(1.20%), HLB INC.(028300)(0.99%), and PharmaResearch(214450)(5.78%) are trading higher.