According to MP Doctor, the KOSPI closed at 6,788.88, down 123.49 points (1.79%) from the previous trading day. The index opened at 6,846.54, down 0.95%, and narrowed its losses to 6,901.78 during the session, but losses widened in the afternoon, pushing the index down to 6,780.13.
In terms of supply and demand, based on NextTrade (NXT) aggregates, foreign investors net sold 2.0549 trillion won worth of stocks, dragging down the index. Institutions also sold off 380.4 billion won worth of stocks. Retail investors net bought 832.7 billion won worth of stocks.
Overnight, U.S. stock markets rose on the back of strong earnings from NVIDIA, but in the domestic market, the perception that related expectations had already been largely priced in the previous day weighed on sentiment. Additionally, news that the U.S. is considering imposing additional tariffs on imported semiconductors and semiconductor-equipped information technology (IT) products—such as servers and laptops—led to policy uncertainty that dampened investor sentiment toward the semiconductor sector. A wait-and-see attitude ahead of U.S. Federal Reserve (Fed) Chair Kevin Warsh’s keynote speech at Jackson Hole, scheduled for that evening, is also believed to have weighed on the market.
Among the top market-cap stocks, the weakness of major semiconductor stocks was particularly noticeable. SamsungElectronics(005930), the company with the largest market capitalization, closed at 257,000 won, down 9,000 won (3.38%) from the previous trading day. SK hynix(000660), the second-largest by market capitalization, ended trading at 1,653,000 won, plummeting 77,000 won (4.45%). SamsungElectronics(1P)(005935)(-3.86%) and SKSQUARE(402340)(-3.75%) also fell. In contrast, SamsungElectroMechanics(009150)rose 2.60%.
Among other top-market-cap stocks, SAMSUNG BIOLOGICS(207940)plummeted 6.78% following the announcement of a 3 trillion won rights offering. KB Financial Group(105560)(2.08%), Samsung Life Insurance(032830)(0.98%), and HyundaiMotor(005380)(0.38%) were among the gainers.
In contrast to the index’s decline, rotational trading continued across the broader market. The number of KOSPI stocks that rose—640—significantly outnumbered the 238 that fell. By sector, chemicals jumped 3.83%, while textiles and apparel (3.09%), food, beverages, and tobacco (2.68%), non-metals (2.12%), and IT services (2.03%) also showed strength. In contrast, the electricity and electronics sector (-3.19%), electricity and gas (-3.06%), and pharmaceuticals (-3.01%) were weak.
The KOSDAQ market fluctuated throughout the session before closing slightly higher. The KOSDAQ index closed at 838.41, up 0.76 points (0.09%) from the previous trading day. Based on NXT aggregate data, retail investors made net purchases of 127.5 billion won, while foreign and institutional investors made net sales of 123.0 billion won and 4.4 billion won, respectively.
Among the top market-cap stocks, Alteogen Inc.(196170)closed at 320,000 won, up 2.73%, while PharmaResearch(214450)surged 6.71%. HLB INC.(028300)(1.55%) and ECOPRO BM CO., LTD.(247540)(0.17%) also rose. Conversely, ECOPRO CO., LTD(086520)(-1.96%), Rainbow Robotics(277810)(-3.18%), and SIMMTECH Co., Ltd.(222800)(-3.23%) fell.
Lim Jeong-eun and Tae Yun-seon, analysts at KB Securities, noted, “Although the weakness of the two stocks with the highest market capitalizations exerted downward pressure on the KOSPI, the percentage of stocks that rose reached the 68% range,” adding, “Rotational trading spread to non-semiconductor sectors such as food and beverages, banking, and refining.” Regarding the KOSDAQ market, they explained, “While the pharmaceutical and biotech sectors were solid, the electrical and electronics sectors were relatively sluggish; after fluctuating throughout the session, the market closed slightly higher.”
