Disappointment over AI (artificial intelligence) and semiconductor earnings caused the KOSPI to close down more than 4% on the 6th. The KOSDAQ closed its fifth consecutive day of gains, recovering above the 800th-point level. Foreign investors, who had been net buyers in the KOSPI the previous day, sold off over 3 trillion won on this day, highlighting the weakness among major semiconductor stocks.
On this day, the KOSPI closed at 6,296.38, down 301.88 points (4.58%) from the previous trading session. After two consecutive days of gains, the KOSPI fell by more than 4% on this day, giving back most of its recent gains.
In the KOSPI market, a buy-side sidecar (futures market circuit breaker) had triggered for two consecutive days prior to this, but on this day, the sell-side sidecar (futures market circuit breaker) was activated as the KOSPI 200 futures fell sharply. This marks the 46th activation of the sidecar since the beginning of the year and the 24th time it has been triggered for selling.
Lee Kyung-min, a researcher at Daishin Securities, stated, "Although SanDisk reported that data center revenue increased by 1,298% compared to the same period last year in its earnings announcement, its stock price plummeted after providing a next-quarter earnings guidance of $10.3–10.8 billion, which fell short of expectations." He further analyzed, "SanDisk's weak guidance dampened investment sentiment across the entire memory sector, leading to a sharp decline in domestic semiconductor stocks and driving the overall index downward."
Foreign investors' net selling contributed to the KOSPI's decline. While foreign investors were net buyers by over 1 trillion won the previous day, they sold off 3.3329 trillion won on this day. Institutional investors also sold off 122 billion won in net terms. Retail investors bought 3.3407 trillion won in net terms.
In particular, leading semiconductor stocks and large-cap stocks experienced significant declines. Samsung Electronics closed at 235,000 won, down 15,500 won (6.3%) from the previous session. SK Hynix closed at 1.495 million won, down 173,000 won (10.37%). SK Square fell by more than 13%, and Samsung Electro-Mechanics dropped by over 9%, showing weakness. Hanwha Aerospace rose by more than 4%, and LG Energy Solution increased by over 2%.
By sector, food & tobacco, chemicals, and pharmaceuticals rose by more than 2%. Construction, textiles & apparel, and metals gained by over 1%. Securities and telecommunications showed slight weakness. Retail and machinery & equipment fell by over 1%. Financials declined by more than 2%, while healthcare & precision instruments and manufacturing each dropped by over 5%, showing weakness. Electrical & electronics fell by more than 7%.
The KOSDAQ closed at 801.67, up 2.08 points (0.26%), marking its fifth consecutive day of gains. Although it opened at 797.44, down 2.15 points (0.27%), the market closed with a slight gain thanks to retail investors' net buying. From July 31 onward, the index rose for five consecutive trading days before closing.
In the KOSDAQ market, retail investors continued their net buying on consecutive days. Retail investors bought 85.4 billion won in net terms, while institutional investors purchased 161.5 billion won in net terms. Foreign investors sold off 247.8 billion won in net terms.
By sector, pharmaceuticals rose by more than 2%, while entertainment & culture, food & tobacco, and telecommunications increased by over 1%. Financials and retail showed slight strength, while manufacturing and construction displayed slight weakness. Electrical & electronics and machinery & equipment fell by over 1%.
Among the top market capitalization stocks, AlteoGen closed with gains of more than 5%. Pharmicure rose by over 4%, while ABLE Bio and Peptron increased by more than 3. IOTech and Simtek gained by over 2%, and EcoPro, RAINBOW Robotics, and LigChemBio each rose by over 1%. Wonik IPS fell by more than 5%, and Juseong Engineering dropped by over 6%, showing weakness.
On this day, in the Seoul foreign exchange market, the won/dollar exchange rate traded at 1,423.8 won as of 3:30 p.m., down 0.7 won from the previous session.
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