[Edaily Reporter Kim Hyung-il ] SamsungElectronics(005930)Despite the company reporting earnings that exceeded market expectations, the domestic stock market is showing weakness in early trading. Although semiconductor stocks performed relatively well in the U.S. market, investor sentiment appears to be under pressure due to concerns over rising long-term U.S. interest rates and supply-and-demand uncertainty ahead of the holiday and options expiration day. The KOSPI has fallen below the 6,800 mark, and the KOSDAQ is down more than 1%.

According to MP Doctor on the 8th, as of 9:19 a.m., the KOSPI stood at 6,785.62, down 18.28 points (0.27%) from the previous trading day. The KOSPI opened 0.07% higher at 6,808.68 but quickly turned lower. Currently, 240 stocks are up, 53 are unchanged, and 602 are down. Two stocks have hit their daily upper price limit. By sector, electrical and electronics are up 0.47%, and manufacturing is up 0.11%. In contrast, IT services are down 2.64%, pharmaceuticals are down 2.61%, and securities are down 2.5%, showing weakness.

By market capitalization, large-cap stocks are down 0.33%, mid-cap stocks are down 0.89%, and small-cap stocks are down 0.37%. SamsungElectronics is trading at 268,000 won, down 0.19% from the previous trading day. SK hynix(000660)is trading at 1,736,500 won, up 0.78%, showing relatively strong momentum. HyundaiMotor(005380)is down 2.68% at 327,000 won, KB Financial Group(105560)is down 0.71% at 167,300 won, SAMSUNG BIOLOGICS(207940)is down 3.21% at 1,363,000 won, and SAMSUNG C&T CORPORATION(028260)is down 1.6% at 276,500 won.

The KOSDAQ is seeing an even sharper decline. At the same time, the KOSDAQ is trading at 888.18, down 10.25 points (1.14%) from the previous trading day. The KOSDAQ opened 0.03% lower at 898.19 today and has since extended its losses. There are 494 stocks up, 112 unchanged, and 1,115 down. Six stocks hit their daily upper price limit. By sector, publishing and media reproduction rose 1.65%, and finance is up 1.09%. In contrast, pharmaceuticals are down 3.88% and general services are down 3.47%, while construction and entertainment/culture are also down 1.94% and 1.72%, respectively.

Today, the domestic stock market is focusing on movements in U.S. long-term interest rates and SamsungElectronics’ earnings. Overnight, U.S. stock markets saw the Dow Jones and S&P 500 indices fall 0.22% each, while the Nasdaq dropped 0.22%. The yield on the 10-year U.S. Treasury note rose to 5.36% during the session—its highest level since April 2002—but subsequently fell below 5.3% following a strong Treasury auction.

Additionally, SamsungElectronics announced its preliminary third-quarter earnings today. The preliminary earnings totaled 107.4 trillion won, slightly exceeding the consensus estimate of 106 trillion won. However, since the preliminary earnings announcement does not include detailed results by business division or a conference call, market attention is expected to shift from the earnings themselves to subsequent stock price and supply-demand movements.

Han Ji-young, an analyst at KIWOOM Securities, commented on the domestic stock market that day, stating, “Following the release of SamsungElectronics’ preliminary earnings and as the market absorbs supply-and-demand issues stemming from the holiday and option expiration, we expect to see a volatile trading environment,” adding “Despite Micron’s strong earnings, its stock price rally has been limited recently, and even though there has been a string of positive news for domestic semiconductor stocks—such as the surprise in September’s semiconductor exports—SamsungElectronics and SK hynix are also showing weak stock price momentum,” she explained.

She continued, “Rather than concerns over a deterioration in the semiconductor business cycle, the market’s expectations for semiconductor stocks have risen, shifting the focus from earnings for the remainder of this year to the sustainability of profits starting next year,” adding, “The second key point to watch is how the 2027 operating profit estimates for the KOSPI—centered on semiconductor companies like SamsungElectronics and SK hynix—will change following this earnings announcement.” Finally, he added, “I expect to see tangible changes in the overall stock price trends of the domestic market and foreign investor sentiment starting next week,” noting, “We also need to keep in mind short-term supply-and-demand issues stemming from Friday’s market closure, the options expiration date on the 8th, and ETF rebalancing.”