[Edaily Reporter KIM YOON-JEONG ] The KOSPI and KOSDAQ saw mixed results. While the KOSPI fell below the 7,000 mark as SamsungElectronics and SK hynix both declined, the KOSDAQ jumped nearly 3%, regaining the 900-point level on a closing basis for the first time in about three months. The upward trend spread across the KOSDAQ market as investor attention shifted from large-cap semiconductor stocks to materials, parts, and equipment; rechargeable batteries; and biotech. Securities analysts attributed this to a rotation of funds into KOSDAQ stocks—which are undervalued relative to their earnings—as large-cap semiconductor stocks stalled.

◇ KOSDAQ Up 3%·Recovers 900-Point Level… Broad-Based Gains in Semiconductor Materials, Components, and Equipment; Secondary Batteries; and Biotech
According to MP Doctor, the KOSDAQ index closed at 919.92, up 26.63 points (2.98%) from the previous trading day. The index opened at 902.16, up 8.87 points (0.99%) from the previous close, and continued to extend its gains. This marks the first time the KOSDAQ has closed above the 900-point mark since July 1 (929.35). On the 2nd, it also rose to 903.88 during the session, regaining the 900-point level, but the closing price that day was 893.29, falling back below the 900-point mark.
In the KOSDAQ market, based on NextTrade (NXT) aggregate data, foreign investors and institutions made net purchases of 123.3 billion won and 105.7 billion won, respectively. In contrast, retail investors made net sales of 212.0 billion won.
Analysts suggest that the KOSDAQ rally was driven by a rotation of buying interest from large-cap semiconductor stocks toward relatively undervalued KOSDAQ stocks. The upward trend spread beyond semiconductor materials, parts, and equipment to sectors such as rechargeable batteries and biotech, driving the index higher.
Seo Sang-young, Executive Director at MIRAE ASSET SECURITIES, explained, “Investor sentiment toward the KOSDAQ has been favorable recently, particularly in the materials, parts, and equipment sectors.” He added, “As large-cap semiconductor stocks retreated, rotational buying shifted toward the KOSDAQ, and the fact that these stocks are undervalued relative to their strong earnings also acted as a driving factor behind the rise.” He continued, “Expectations regarding policies to revitalize the KOSDAQ market also remain strong.”
The upward trend was also pronounced across various sectors. The pharmaceutical sector rose 4.62%, and other sectors such as finance (4.49%), machinery and equipment (3.90%), electrical and electronics (3.28%), manufacturing (3.26%), medical and precision instruments (2.58%), IT services (2.55%), general services (2.49%), and chemicals (1.92%) also showed strength.
Stocks with the highest market capitalization also generally rose. Alteogen Inc.(196170), the top-ranked stock by market cap, closed at 260,000 won, up 500 won (0.19%) from the previous trading day. ECOPRO CO., LTD(086520), the second-ranked stock by market cap, closed at 95,400 won, up 6,500 won (7.31%).
JUSUNG ENGINEERING Co.,Ltd.(036930)soared 17.51%, HLB INC.(028300)surged 17.18%, and SAM CHUN DANG PHARM CO. LTD(000250)jumped 16.43%. ECOPRO BM CO., LTD.(247540)also jumped 11.41%, and SIMMTECH Co., Ltd.(222800)(4.67%), Rainbow Robotics(277810)(3.67%), LEENO Industrial Inc(058470)(3.08%), EO Technics Co., Ltd.(039030)(2.26%), and WONIK IPS Co.,Ltd.(240810)(2.24%) all closed higher.
◇Why Did the KOSPI Fall While the Nasdaq Hit a Record High? … “Memory Stocks Weighed Down by High Interest Rates and Data Center Power Shortages”
In contrast, the KOSPI closed lower, falling below the 7,000 mark. The KOSPI closed at 6,941.39, down 62.35 points (0.89%) from the previous trading day. The index opened at 7,044.67, up 40.93 points (0.58%) from the previous close, but turned lower during the session. It then fluctuated around the 7,000 mark before closing below it.
The KOSPI’s decline stood in contrast to the across-the-board gains on the New York stock market overnight. On the 5th (local time), the Nasdaq Composite Index closed at 27,477.31, up 1.05% from the previous trading day, setting a new all-time high based on the closing price. The S&P 500 and the Dow Jones Industrial Average also rose 0.66% and 0.18%, respectively. The yield on the 10-year U.S. Treasury note surged to 5.34% during the session, hitting its highest level since 2002, but expectations for earnings growth among major AI-related tech stocks offset the pressure from rising interest rates.
Analysts suggest that the KOSPI’s decline that day was also influenced by a Morgan Stanley analysis indicating that power shortages at U.S. data centers could strain the semiconductor supply chain. Morgan Stanley estimated that U.S. data center developers will face a net power shortage of 32 gigawatts (GW)—equivalent to 34% of their power needs—by 2028. The firm analyzed that if the deployment of AI infrastructure is delayed, sectors such as memory, optical communications, power management, and analog semiconductors could be relatively more exposed to inventory disruptions. On the other hand, it assessed that the power bottleneck would not be severe enough to threaten the 2027 earnings outlook for NVIDIA and Broadcom.
In particular, given the significant influence of large-cap semiconductor stocks on the KOSPI index, the report explained that the weakness in U.S. memory stocks was reflected relatively strongly in the domestic stock market. Executive Director Seo said, “It appears that the domestic semiconductor sector also declined due to the burden of rising U.S. Treasury yields, compounded by the weak performance of memory companies in the U.S. stock market.” Regarding NVIDIA’s record-high closing price and Broadcom’s gains overnight, he elaborated that Morgan Stanley’s assessment—which noted that the impact on the two companies’ earnings outlooks would be limited despite concerns over data center construction delays and power grid instability—had influenced the market.
Looking at KOSPI trading by investor type, based on NXT data, foreign investors recorded net sales of 1.769 trillion won. In contrast, retail investors and institutional investors posted net purchases of 725.6 billion won and 59.4 billion won, respectively.
Among the top market-cap stocks, the two leading semiconductor companies fell in tandem. SamsungElectronics(005930), the company with the largest market capitalization, closed at 272,000 won, down 4,000 won (1.45%) from the previous trading day. SK hynix(000660), the second-largest by market capitalization, closed at 1,773,000 won, down 68,000 won (3.69%).
SAMSUNG BIOLOGICS(207940) SamsungElectronics(1P)(005935) also fell 3.25%, and other stocks such as (-1.39%), (-1.38%), (-1.16%), and (-0.30%) were also down. In contrast, surged 5.95%, and jumped 5.12%. (0.43%) and (0.09%) also rose. Samsung Life Insurance(032830) SAMSUNG C&T CORPORATION(028260) KB Financial Group(105560) SamsungElectroMechanics(009150) LG Energy Solution(373220) HyundaiMotor(005380) SKSQUARE(402340)