Sector Leaders & Laggards
Gaining Sectors
Electrical Equipment+6.54%
Marine Transportation+5.83%
Declining Sectors
Semiconductors & Semiconductor Equipment-6.09%
Diversified Companies-2.85%
79 sectors· 59 up· 3 unchanged· 17 down· 41 more gaining sectors than the prior session's 18
Semiconductors & Semiconductor Equipment -6.09%· 78 of 171 stocks advanced· 6 unchanged· 87 declinedThe sector ranked 78th by return, yet advancers inside the sector rose from 14 to 78
Life Insurance: 1 of 4 stocks advanced· 1 unchanged· 2 downThe stock-count distribution was the same as the prior session; only the return changed from +8.88% to -11.17%.· Market-cap weightedSector indexes weight constituents by market capitalization· larger stocks have more influence Because it is market-cap weighted, one large stock can determine the rank.
Sector Read
01The sector fell, but· 78 stocks inside it advanced
The order within semiconductors· Sector · theme · stock classification shown explicitly
| Name | Category | Change |
|---|
| Semiconductor Materials/Components | Theme | +0.68% |
| Samsung Electro-Mechanics | Stock | +0.15% |
| HBMHigh Bandwidth Memory· DRAM stacked in multiple layers to increase bandwidth | Theme | -0.63% |
| Semiconductor Equipment | Theme | -0.69% |
| SK Hynix | Stock | -3.41% |
| SK Square | Stock | -4.19% |
| Semiconductors & Semiconductor Equipment | Sector | -6.09% |
| Samsung Electronics | Stock | -8.70% |
The prior session's table flipped top-to-bottomOn Aug. 21, Samsung Electronics +3.87% was at the very top· Materials, Parts & Equipmentmaterials · parts · equipment· suppliers of materials and equipment to major semiconductor producers, while this group had been at the bottom.
Semiconductor Materials/Components +0.68%· reversed to a gain from -4.54% the prior sessionSystem Semiconductors -0.47%· Loss narrowed from -4.55% the prior session
Major Semiconductor Producers theme -5.00%· All three stocks declinedThe theme grouping only the large-cap names ranked 218th of 219
Hanmi Semiconductor short-selling ratio 35.1%· Share price -2.1%Turnover KRW43.0bn· Finalized regular-market basis
The No. 1 and No. 2 stocks by market cap fell while the rest of the sector mostly rose
02Yesterday's top became today's bottom
One day after Aug. 21's top and bottom sectors· All sector-weighted values
| Sector | 08.21 | 08.24 |
|---|
| Life Insurance | +8.88% | -11.17% |
| Wireless Telecom Services | +4.80% | +0.07% |
| Property & Casualty Insurance | +3.55% | -1.70% |
| Semiconductors & Semiconductor Equipment | +2.97% | -6.09% |
| Banks | +2.36% | -0.13% |
| Aerospace & Defense | -6.90% | +1.64% |
| Energy Equipment & Services | -7.07% | +0.95% |
Of the prior session's top five sectors, only Wireless Telecom Services rose again todayThe other four reversed lower· The prior session's No. 1 ranked last today
The prior session's bottom two both reversed higherEnergy Equipment & Services, 79th the prior session, rose to 38th· Aerospace & Defense, 78th, rose to 22nd
No. 1 sector Changed for an eighth straight trading sessionAug. 13 Electronic Equipment & Instruments → Aug. 14 Wireless Telecom Services → Aug. 18 Shipping → Aug. 19 Leisure Equipment & Products → Aug. 20 Semiconductors & Semiconductor Equipment → Aug. 21 Life Insurance → Aug. 24 Nonferrous Metals
The areas that had risen on shareholder-return expectations reversed in the same order
03Gains were concentrated in metals· secondary batteries· Pharmaceuticals
Where gains appeared· Sector · theme · stock classification shown explicitly
| Name | Category | Change |
|---|
| Precious Metals (Gold/Silver) | Theme | +7.93% |
| Nonferrous Metals | Sector | +7.84% |
| mRNA | Theme | +7.64% |
| Electrical Equipment | Sector | +6.54% |
| Marine Transportation | Sector | +5.83% |
| Secondary Batteries (Production) | Theme | +5.79% |
| Chemicals | Sector | +5.28% |
146 of 219 themes advanced· Prior 16No. 1 Precious Metals (Gold/Silver): all four stocks advanced· Moving in the same direction as the live international gold price
Secondary-battery themes clustered near the top· Production +5.79%· Sodium-Ion Batteries +4.55%· Materials/Parts +3.87%· Total +2.73%The same axis as KOSDAQ's gain· Institutional top net buys also included Samsung SDI · LG Energy Solution · L&F
Pharmaceuticals +3.63%· 123 stocks advanced· Life Sciences Tools & Services +5.50%mRNA +7.64%· COVID-19 +4.44%· Biosimilars +3.95%
The bottom-ranked theme was 2026 H2 New Listings -10.55%· 219th for a second straight dayPrior -14.44%· All nine stocks declined
Rotation continued outside large-cap semiconductors
What to Watch Next Session
Next-Session Probability· Downside tilt
45:55· Not a quantitative forecast probability· Only Aug. 24 Korea-close signals were used to measure this relative weightingThe Aug. 21 U.S. close, already known before the Aug. 24 open, and events whose outcomes are still pending are excluded from this ratio
UpsideAdvancer ratio 64.2%· Recovered from 21.3% the prior session· 59 sectors gained· 146 themes gainedOutside the two large-cap stocks, institutions were +KRW658.1bn net buyers· Top net buys broadened across internet · secondary batteries · steelKOSDAQ +1.42%· Held above 800· Foreign +KRW241.7bn· institutions +KRW24.9bn · both were net buyersKOSDAQ program trading +KRW255.5bn· Opposite direction to KOSPI· The two markets moved in the same direction the prior sessionKRW strengthened· 15:30 basic exchange rate: KRW1,381.70· KRW4.10 lower than the prior session's KRW1,385.80
DownsideForeign Cash -KRW3.6764tn· Second straight day of selling, with the amount expanding from -KRW176.1bn the prior sessionBroke all three support levels at once· Below 6,912.95 · 6,869.83 · 6,852.58· Also below 6,700Program TradingAutomated multi-stock orders· a channel through which indexes and investor flows move -KRW2.9429tn· Non-arbitrage -KRW3.0612tn· Second straight day of selling; amount 3.8× largerInstitutional Cash -KRW1.2928tn· Turned to selling after one day· Sell concentration: No. 1 stock 66% · top five 86%Samsung Electronics · retail +KRW2.9081tn · net buying· If foreign and institutional selling persists, the durability of retail buying becomes a burden
Variables Excluded from the ProbabilityAug. 24 U.S. regular session tonight· Direction not yet knownAug. 21 U.S. close (Dow +0.98% · SOX -0.51% · 30Y 5.27% · WTI $87.06)· Already known before the Aug. 24 open and therefore reflected once in today's pricesSamsung Electronics short selling: KRW1.0167tn · 8.8% share· Cannot separate whether it was a cause or a consequence of the declineForeign KOSPI 200 futures +KRW695bn· institutions -KRW870bn· Moved opposite to cashBasis -2.36 · backwardation· Cash closed at 15:30 / futures at 15:45, so they are not same-time observationsAug. 27 05:20 · NVIDIA FY27 Q2· Aug. 27 · Bank of Korea Monetary Policy Board· Aug. 28 23:00 · Jackson Hole keynote· Aug. 31 · MSCI regular rebalance· Events with no result yetActual SK Hynix share-repurchase execution amount· Because the purchase period lasts three months, the results filing will come after the period ends
Key Flow SignalsAt the Close
Foreign Cash-KRW3.6764tnSecond straight day of selling · amount expanded
Institutional Cash-KRW1.2928tnTurned to selling after one day
Samsung Electronics-KRW1.8113tnNo. 1 foreign net sell · 41% concentration
Non-arbitrage-KRW3.0612tnSecond straight day of selling · amount 3.7× larger
KOSPI Breadth64.2%Prior 21.3%
KOSDAQ Breadth53.5%Prior 16.6%
Next Confirmation Conditions
FlowsWhether foreign selling extends to a third straight day· Whether institutions continue buying outside the two large-cap stocks· Whether retail investors continue holding the two large caps they absorbed into the next session
BreadthWhether the advancer ratio holds· Whether the 78 semiconductor advancers hold· Whether KOSDAQ holds above 800 The question in this phase is whether the pattern of a falling index but more advancing stocks persists
Price · VariablesWhether today's low of 6,656.07 holds· Whether 6,852.58 is recovered· Whether the No. 1 stock by market cap stops falling· Aug. 27 05:20 · NVIDIA earnings
Flows· Market Breadth Detail
Flow StructureKOSPI· Naver Finance investor-by-type tally
Retail+KRW3.3209tn
Foreign-KRW3.6764tn
Institutions-KRW1.2928tn
Measurement basis· Investor totals = Naver Finance· Stock-level data = KRX· Market scope differs → no cross-summing or share calculations
Foreign· Second straight day of selling· Amount expanded from -KRW176.1bn the prior session
Institutions· Reversed to selling after one day· From prior-session net buying of +KRW248.1bn
Retail· Turned to buying after two days of selling· Prior session -KRW1.1651tn
Foreign cash was sold while futures were bought· Directions diverged for a second straight day
KOSDAQ· Retail -KRW260.4bn· Foreign +KRW241.7bn· Institutions +KRW24.9bn· All three investor groups had the opposite sign from KOSPI
Foreigners who sold KOSPI were buyers in KOSDAQ· Retail was the side that absorbed KOSPI selling
Foreign futuresK200 futures net-buy amount· KRX derivatives data· value basis+KRW695bn
Program TradingAutomated multi-stock orders· a channel through which indexes and investor flows move (KOSPI)-KRW2.9429tn
USD/KRWDomestic FX market 15:30 close· Basic exchange rate fixing· Prior KRW1,385.801,381.70 ▼4.10
Market BreadthAdvancer ratio· Measures breadth across advancing and declining stocks
KOSPI 582 / 906 = 64.2% 579 advancers· 3 limit-up· 38 unchanged· 286 decliners· Limit-down 0
KOSDAQ 926 / 1,730 = 53.5% 921 advancers· Limit-up 5· 96 unchanged· 706 decliners· 2 limit-down
Versus prior day· Advancer ratios rose in both markets· KOSPI +42.9pp· KOSDAQ +36.9pp
KOSPI advancers were 2.0× decliners· The prior session, decliners were 3.5× advancers
KOSDAQ's advancer ratio was 10.7pp below KOSPI· It had been 4.7pp lower the prior session
Index direction and breadth direction diverged for a second straight day
Turnover KRX data
| Market | Turnover | vs. 5-Day Average |
|---|
| KOSPI | KRW26.1tn | 95% |
| KOSDAQ | KRW4.45tn | 68% |
KOSPI turnover· Five-day average: 101% → 95%· Absolute turnover: KRW28.69tn → KRW26.10tnThe index fell more than 3%, but turnover declined from the prior session
KOSDAQ turnover· 77% → 68%· KRW5.41tn → KRW4.45tnTurnover declined in both markets· Opposite direction from the prior session
Short SellingSelling borrowed shares → a bearish position· Turnover basis· Aug. 24 regular market · final· Collected at 16:28· KOSPI KRW2.18tn· 6.2% of combined KRX+NXT turnoverPrior KRW2.16tn · 5.4%· Same finalized regular-market basis
Short Selling· KOSDAQ KRW0.29tn· 5.5% on the same basis
No. 1 by short-selling turnover: Samsung Electronics KRW1.0167tn· 8.8% share· No. 2 SK Hynix: KRW343.3bn · 3.6%No. 1 by short-selling ratio: AI Networks 50.4%· No. 2 ISC 45.6%· No. 3 Korea Aerospace Industries 41.3%
Flows Over the Last 5 Sessions
Flows Over the Last 5 Sessions KOSPI· Naver Finance investor-by-type tally
08.24Retail+KRW3.32tnForeign-KRW3.68tnInstitutions-KRW1.29tn
Samsung Electronics' finalized shareholder-return plan was priced as a sell-the-news event· Most foreign selling was concentrated in the two large-cap names· Institutions were net buyers outside the two large-cap stocks· Retail reversed to buying after two straight selling days
08.21Retail-KRW1.17tnForeign-KRW0.18tnInstitutions+KRW0.25tn
After a gap-down open, large-cap semiconductors recovered first· KOSDAQ sell-sidecar at 10:05· Broader coverage of shareholder-return expectations overlapped with strength in Samsung-affiliated stocks· Institutions turned to buying
08.20Retail-KRW2.27tnForeign+KRW1.71tnInstitutions-KRW0.49tn
Foreign investors had turned to buying after one day· Most of that buying was in the two large-cap names· Institutions were still selling for a fourth day, though the amount shrank· Retail turned to selling after two days of buying
08.19Retail+KRW4.64tnForeign-KRW3.49tnInstitutions-KRW1.32tn
Foreign investors had turned to selling after five days of buying· Most of the selling was in the two large-cap names· Institutions sold for a third day· Retail bought for a second day
08.18Retail+KRW0.74tnForeign+KRW0.09tnInstitutions-KRW0.8tn
Foreign buying had extended to a fifth day· but the amount collapsed from the KRW3tn range to below KRW100bn· Institutions sold for a second day· Retail turned to buying after four days of selling
CumulativeRetail+KRW5.26tnForeign-KRW5.54tnInstitutions-KRW3.65tn
Five-session total · Aug. 18–24· Foreigners bought on two days and sold on three, but the three selling days were much larger in size· In the prior window (Aug. 14–21), foreign investors were +KRW1.17tn net buying
KOSDAQ 5-session· Foreign -KRW118bn· Institutions -KRW577bn· Retail +KRW683bn
K200 futures 5-session· Foreign -KRW718bn· Institutions +KRW1.07tnCash -KRW5.54tn and futures moved in the same direction· They had diverged in the prior window
Futures ·Program TradingAutomated multi-stock orders· a channel through which indexes and investor flows move
Foreign futuresK200 futures net-buy amount· KRX derivatives data· value basis
+KRW695bn
Second straight day of buying· Prior +KRW317.0bn· Opposite direction to cash· KRX derivatives amount basis
Institutional Futures
-KRW870bn
Second straight day of selling· Prior -KRW199.0bn· Opposite foreign investors· Retail +KRW222.0bn
Program TradingAutomated multi-stock orders· a channel through which indexes and investor flows move (KOSPI)
-KRW2.9429tn
Arbitrage +KRW118.3bn· Non-arbitrage -KRW3.0612tn· Second straight session of selling
Cash–Futures Basis
-2.36
Cash 1,054.01· Futures 1,051.65· Sep. 2026 contract· Different closing times, 15:30 / 15:45 → excluded as directional evidence
Arbitrage and non-arbitrage split directions· Three straight days
KOSDAQ Program· Arbitrage +KRW0.1bn· Non-arbitrage +KRW255.4bn· Total +KRW255.5bn· Opposite direction to KOSPIThe two markets moved in the same direction the prior session
Foreign· Cash selling and futures buying diverged for a second straight day
Institutions· Cash -KRW1.2928tn· Futures -KRW870bn· Both sides aligned for the first time in four days
Basis· Prior +3.45 → -2.36· Dashboard labels this as backwardation
Program TradingAutomated multi-stock orders· a channel through which indexes and investor flows move· Already included in investor flows → no separate addition
Net buying by investor type· Net Selling
Foreign
Net Buying
- SK Square+KRW54.6bn
- Kakao+KRW31.9bn
- LG Innotek+KRW29.1bn
- LG Electronics+KRW27.7bn
- EcoPro+KRW27.3bn
Net Selling
- Samsung Electronics-KRW1.8113tn
- SK Hynix-KRW1.5666tn
- Samsung Electronics Preferred-KRW350bn
- NAVER-KRW66.2bn
- SK Telecom-KRW59.1bn
Institutions
Net Buying
- NAVER+KRW102.1bn
- Samsung SDI+KRW94.9bn
- LG Energy Solution+KRW48.9bn
- POSCO Holdings+KRW45.7bn
- L&F+KRW42.5bn
Net Selling
- Samsung Electronics-KRW1.6342tn
- SK Hynix-KRW293.7bn
- Samsung Electronics Preferred-KRW77.8bn
- SK Square-KRW63.1bn
- Samsung C&T-KRW40.7bn
Retail
Net Buying
- Samsung Electronics+KRW2.9081tn
- SK Hynix+KRW750.3bn
- Samsung Electronics Preferred+KRW422.8bn
- Samsung Life Insurance+KRW56.6bn
- NearsLab+KRW30.1bn
Net Selling
- Samsung SDI-KRW78.9bn
- POSCO Holdings-KRW56bn
- APR-KRW49.2bn
- SK Innovation−KRW36.3bn
- NAVER-KRW34.3bn
Samsung Electronics alone, the No. 1 foreign net sell, accounted for 41% of the sum of net-sold stocksTop five accounted for 87%· Total net selling: -KRW4.4210tn
Foreign buying was the exact opposite: broadly distributed· No. 1 accounted for 6%· Top five accounted for 18%The top five net buys were spread across semiconductor holding companies · internet · electronic components · secondary batteries
The institutional and retail top lists were mirror imagesInstitutional net-buy ranks No. 1, 2 and 4 (NAVER · Samsung SDI · POSCO Holdings) were all among retail's top five net sells
Samsung Electronics alone, retail's No. 1 net buy, accounted for 65% of the sum of net-bought stocksTop five accounted for 93%· Total net buying: +KRW4.4662tn· Calculated from raw data
What Comes Next
The top of the market-cap ladder weighed on the index while the rest of the market rose· Nearly two in three stocks advanced
Rotation continuesAdvancer ratio holds + institutional buying outside the large caps continues + KOSDAQ recovers 820 → checkpoint is whether today's high of 6,884.57 is recovered
Large-cap losses widenThird straight day of foreign selling + further decline in the No. 1 stock by market cap + U.S. long-term yield above 5.27% → checkpoint is whether today's low holds
Index and breadth continue to divergeTwo large caps weigh on the index while the rest of the market rises· KOSPI 200 continues to fall more than KOSPI· KOSPI remains pinned below 6,700
Next checks· Whether institutions continue buying outside the two stocks + whether the No. 1 stock by market cap stops falling
Upcoming Calendar6 Events
Aug. 25 (Tue)
06:00
Korea August Consumer Sentiment Index
August Business Survey Index follows at 06:00 on Aug. 26
Aug. 26 (Wed)
21:30
U.S. Q2 GDP second estimate· July Personal Income · Personal Consumption Expenditures
Released at the same time· Forecasts unavailable at publication time
Aug. 27 (Thu)
05:20
NVIDIA FY27 Q2 earnings
After the Aug. 26 U.S. regular-session close· Released at 05:20 Korea time· Conference call at 06:00· Revenue ConsensusAverage brokerage forecast· Distinguished from company-issued guidance $91.8bn· Adjusted EPSEarnings Per Share· Net income ÷ shares outstanding· Adjusted EPS = excludes one-off gains/losses $2.08· Company guidance $91bn ±2%
Aug. 27 (Thu)
Bank of Korea Monetary Policy Board
Current policy rate 2.75%· First meeting after the Jul. 16 hike
Aug. 27 (Thu)–29 (Sat)
Jackson Hole Economic Policy Symposium
Theme: financial innovation and payments· Chair Kevin Warsh's keynote is 8/28 23:00 (at 10:00 ET local time)· Published on the Federal Reserve calendar
Aug. 31 (Mon)
MSCI August regular rebalance takes effect
At the close· Korea inclusion: LG Innotek· Deletion: HLB· LG Display· POSCO International· Samsung Epis Holdings
Data· Earnings Benchmarks
Released the prior night· Previous vs. Actual
| Item | Previous | Actual |
|---|
| U.S. August Services PMIPurchasing Managers' Index· Above 50 indicates expansion· Flash reading based on surveys conducted during the month flash | 54.6 | 56.8 |
| U.S. August Manufacturing PMIPurchasing Managers' Index· Above 50 indicates expansion· Flash reading based on surveys conducted during the month flash | 53.9 | 53.2 |
| U.S. 30-year CMTOfficial Treasury maturity yields based on 15:30 ET quote collection· not actual transaction closes (%) | 5.23 | 5.27 |
| U.S. 10Y CMTOfficial Treasury maturity yields based on 15:30 ET quote collection· not actual transaction closes (%) | 4.69 | 4.74 |
Services beat both the prior 54.6 and consensus 54.0· Manufacturing missed both the prior and consensus reading of 53.9Composite 56.0· The survey provider said growth momentum shifted from manufacturing to services
30Y 5.27%· +4bp from the prior session· Rose for a second straight day from 5.19% on Aug. 19Still below 5.31% on Aug. 17· The Aug. 18 intraday 5.33% is based on a different observation method and is not mixed with this indicative-quote series
No applicable Korean data release on Aug. 24· The domestic market was moved not by data but by a filing released after the prior close
To Be Checked in Sequence· Release times in Korea Standard Time
| Name | Release | Consensus |
|---|
| Korea August Consumer Sentiment Index | 8/25 | Not yet reported |
| Korea August Business Survey Index | 8/26 | Not yet reported |
| U.S. Q2 GDP second estimate | 8/26 | Unavailable |
| U.S. July PCE inflation | 8/26 | Unavailable |
| NVIDIA FY2027 Q2 revenue ($bn) | 8/27 | 918 |
| Same-quarter revision EPSEarnings Per Share· Net income ÷ shares outstanding· Adjusted EPS = excludes one-off gains/losses ($) | 8/27 | 2.08 |
| Company guidance for same quarter ($bn) | 8/27 | 910 |
| Bank of Korea policy rate (%) | 8/27 | 2.75 |
NVIDIA's $91bn ±2% is company-issued guidance· kept separate from consensusRelease is after the Aug. 26 U.S. regular-session close· The table date is Aug. 27 in Korea time
Forecasts for the U.S. Q2 GDP second estimate and July personal income/PCE were unavailable· to be filled after release
Samsung Electronics Q3 cash-dividend details to be decided by an end-October board meeting· Method and size of the remainder to be decided by a January 2027 board meetingBased on the original Aug. 21 fair-disclosure filing· Resolves an item left unconfirmed in the prior report
Post-Close Variables· Prices as of Aug. 24, 16:27 Korea time· not final closes
Aug. 24 U.S. regular session tonight· The prior session was split: all three major indices rose while SOX fellHow the sharp decline in Korea's large-cap semiconductors carries into U.S. semiconductors is a condition for the next Korean open
Samsung Electronics shareholder returns· Original Aug. 21 fair-disclosure filing confirmed· Total KRW90–110tnFinal year of the policy to return 50% of 2024–2026 free cash flow· Three-year cumulative total: KRW120–140tn (based on media reports)Of the separately approved KRW15tn in treasury shares for employee compensation, the open-market purchase period is Aug. 24–Nov. 21· Today is day one
SK Hynix treasury shares· Purchase period is three months starting Aug. 20Actual executed amount will be confirmed in the results filing after the purchase period ends· Issue timing not confirmed
WTI $85.18 (-2.16%)· International gold $4,700.20 (+1.65%)· in-progress price
Dollar Index 98.928 (+0.13%)· Bitcoin $77,634 (-0.16%)· in-progress price
The only release before the next Korean open is Korea's August Consumer Sentiment Index at 06:00 on Aug. 25
Technical Levels· Three Indices
KOSPICurrent 6,696.96
Current
6,5006,6566,912
Support6,656.07 → 6,600 → 6,500 Today's low· Psychological Level· Psychological Level
Resistance6,852.58 → 6,884.57 → 6,912.95 Aug. 20 close· Today's high· Prior close
215.99p below the prior close of 6,912.95· 40.89p above today's low
KOSPI200Current 1,054.01
Current
1,0001,0501,096
Support1,050 → 1,000 Psychological Level· Psychological Level
Resistance1,080.98 → 1,082.00 → 1,096.25 Aug. 20 close· Aug. 18 close· Prior close
4.01p above the 1,050 psychological level· Fell 0.73pp more than KOSPI
KOSDAQCurrent 813.33
Current
800821840
Support804.27 → 801.94 → 800 Today's open · low· Prior close· Psychological Level
Resistance821.96 → 834.20 → 840.89 Today's high· Aug. 18 close· Aug. 20 close
13.33p above 800· 20.87p below the Aug. 18 close of 834.20
One-Line Glossary
- sidecar
- If KOSPI 200 futures move at least 5% from the reference price for one minute, or if KOSDAQ 150 futures move at least 6% while the cash index moves at least 3% for one minute, program-trading orders are suspended for five minutes· Triggered on the sell side in KOSDAQ at 10:05 on Aug. 21
- Limit Up· Limit Down
- Daily price limit ±30%· Aug. 24 KOSPI: 3 limit-up · 0 limit-down· KOSDAQ: 5 limit-up · 2 limit-down
- Treasury buybacks
- A Treasury debt-management tool that repurchases outstanding securities· The Aug. 19 expansion announcement was intended to support liquidity in 10–30Y maturities· Different from reducing net debt or Federal Reserve QE
- CMT
- Official maturity-specific Treasury yield calculated by the U.S. Treasury from indicative quotes around 15:30 ET· Because this is not an actual executed closing price, it is not referred to as a "close"
- SOX
- Philadelphia Semiconductor Index· Representative gauge of global semiconductor stocks
- PMI
- Purchasing Managers' Index· Survey of corporate purchasing managers· Above 50 indicates expansion · below 50 contraction· Flash reading based on surveys conducted during the month
- HBM
- High Bandwidth Memory· DRAM stacked in multiple layers to increase bandwidth
- Materials, Parts & Equipment
- materials · parts · equipment· suppliers of materials and equipment to major semiconductor producers
- EPS
- Earnings Per Share· Net income ÷ shares outstanding· Adjusted figures exclude one-off gains/losses
- Consensus· Guidance
- Consensus = average of brokerage forecasts· Guidance = outlook issued by the company
- Short Selling
- Selling borrowed shares → a bearish position· Aug. 24 KOSPI KRW2.18tn· 6.2% of combined KRX+NXT turnover· Final regular session
- Flow Concentration
- Share of each side's aggregate stock-level net buys/sells accounted for by the top names· KRX data
- Program Trading
- Automated multi-stock orders· A channel through which indexes and investor flows move· Included in investor flows
- Arbitrage· Non-arbitrage
- Arbitrage = exploits cash–futures price differences· Non-arbitrage = index-tracking and other general program trading
- Cash–Futures Basis
- Cash closes 15:30 / futures 15:45 → not the same timestamp, so excluded from directional signals· Negative means backwardation
- USD/KRW 15:30 close
- Domestic FX market 15:30 announced basic exchange rate· Reference USD/KRWvalue used in the report
- Base Exchange Rate
- Volume-weighted average of interbank FX transactions· Used for USD/KRW and JPY/KRW per ¥100
- Sector· Theme Performance
- Sector = market-cap weighted· Theme = simple average of constituents· When values conflict, sector data take precedence
- Market-cap weighted
- Sector indexes weight constituents by market capitalization· larger stocks have more influence
- Market Breadth
- Advancer ratio· Measures breadth across advancing and declining stocks
Sources & Data Notes
- Korea Exchange (KRX) · Naver Finance KOSPI 6,696.96 (-3.12%, Aug. 24 close final) open 6,881.07 · high 6,884.57 · low 6,656.07 / KOSDAQ 813.33 (+1.42%) open 804.27 · high 821.96 · low 804.27 / KOSPI 200 1,054.01 (-3.85%, close basis) / stock counts: KOSPI 579 advancers · 3 limit-up · 38 unchanged · 286 decliners · 0 limit-down; KOSDAQ 921 advancers · 5 limit-up · 96 unchanged · 706 decliners · 2 limit-down / turnover: KOSPI KRW26.10tn (95% of five-day average) · KOSDAQ KRW4.45tn (68%): dashboard (Naver Finance daily index data · KRX source, close final· Final update Aug. 24 14:27:34 ICT = 16:27 Korea time)· Market breadth is calculated as (advancers + limit-up) ÷ total including unchanged: KOSPI 582÷906 = 64.2%, KOSDAQ 926÷1,730 = 53.5%· When closing articles differ in decimals, the dashboard's finalized regular-market figure is used
- Investor-Level Totals (Naver Finance investor-by-type tally, Aug. 24 close) KOSPI retail +KRW3.3209tn· foreign -KRW3.6764tn· institutions -KRW1.2928tn / KOSDAQ Retail -KRW260.4bn· foreign +KRW241.7bn· institutions +KRW24.9bn / K200 futures foreign +KRW695bn· institutions -KRW870bn· retail +KRW222bn / five-session cumulative (Aug. 18–24) foreign -KRW5.54tn· institutions -KRW3.65tn· retail +KRW5.26tn / program trading: KOSPI arbitrage +KRW118.3bn · non-arbitrage -KRW3.0612tn · total -KRW2.9429tn; KOSDAQ total +KRW255.5bn / basis -2.36 backwardation (cash 1,054.01 · futures 1,051.65 · Sep. 2026 contract)
- Stock-Level Investor Flows KRX investor trading data (entire stock market · final regular session, Raw-data header collected Aug. 24 14:28:12 ICT = 16:28 Korea time). Foreign net-buy stocks total +KRW973.9bn· net-sell stocks total -KRW4.4210tn· Samsung Electronics -KRW1.8113tn· SK Hynix -KRW1.5666tn / institutions Samsung Electronics -KRW1.6342tn· SK Hynix -KRW293.7bn·NAVER +KRW102.1bn / retail Samsung Electronics +KRW2.9081tn· SK Hynix +KRW750.3bn· Values outside the two large-cap names are residuals after net-buy and net-sell totals are combined and the two names removed: foreign -KRW69.2bn · institutions +KRW658.1bn · retail -KRW594.6bn· Flow concentration matches between the dashboard and recalculation from raw data (foreign sell TOP1 41% · TOP5 87%, institutional sell TOP1 66% · TOP5 86%, foreign buy TOP1 6% · TOP5 18%, institutional buy TOP1 9% · TOP5 28%). Retail buy TOP1 65% · TOP5 93% are calculated from raw data· The total-market basis (Naver) and stock-level basis (KRX) cover different market scopes, so they are not added together and no cross-basis ratios are calculated: KRX Information Data System
- Final Stock Closing Prices Samsung Electronics KRW257,000 (−8.70%· market cap KRW1,502.5tn) · SK Hynix KRW1,671,000 (−3.41%· KRW1,220.7tn) · Samsung Electronics Preferred KRW189,300 (−8.55%) · SK Square KRW1,076,000 (−4.19%) · Samsung Electro-Mechanics KRW1,318,000 (+0.15%) · Hyundai Motor KRW414,000 (−0.24%) · LG Energy Solution KRW362,000 (+5.39%) · Samsung Biologics KRW1,573,000 (+1.42%) · Samsung C&T KRW364,500 (−7.84%) · KB Financial Group KRW163,100 (−0.73%): dashboard top 10 by market cap (regular-market close)· Samsung Life Insurance is outside the top 10, so only the Life Insurance sector return of -11.17% is used instead of the stock's close
- Short Selling (KRX+NXT combined ·Regular market final · collected Aug. 24 at 16:28) KOSPI KRW2.18tn · 6.2% of market / KOSDAQ KRW0.29tn · 5.5% / No. 1 by short-selling turnover Samsung Electronics KRW1.0167tn (8.8%) · No. 2 SK Hynix KRW343.3bn (3.6%) · No. 3 Hanmi Semiconductor KRW43.0bn (35.1%) / No. 1 by ratio AJ Networks 50.4% · No. 2 ISC 45.6% · No. 3 Korea Aerospace Industries 41.3%· Directly comparable with the prior session's KRW2.16tn · 5.4% on the same finalized regular-market basis
- Aug. 21 U.S. market final Dow 53,277.01 (+0.98%) · S&P 500 7,674.37 and Nasdaq 26,180.46 both +0.43%·SOX 11,740.37(−0.51%)·VIX 15.13(−5.50%): dashboard (Yahoo Finance source) / on a weekly basis all three indices declined · WTI close $87.06 · weekly +6.9%: Yahoo Finance
- U.S. Treasury yields U.S. Treasury Daily Treasury Par Yield Curve Rates (CMT · 15:30 ET publication): Aug. 21 10Y 4.74% · 30Y 5.27%; Aug. 20 4.69% · 5.23%: U.S. Treasury· Five-session 30Y path: Aug. 17 5.31% → Aug. 18 5.28% → Aug. 19 5.19% → Aug. 20 5.23% → Aug. 21 5.27%· Aug. 21 was not the high; it was the second straight rebound from the Aug. 19 low· CMT is calculated from indicative quotes around 15:30 ET, so it is not called a "closing yield"· The Aug. 18 intraday 5.33% uses a different observation time and is not mixed into this series· The dashboard's ^TNX 4.738% is a market-close figure and is therefore not shown alongside the CMT series
- U.S. August S&P Global PMI · flash (released Aug. 21) Services 56.8 (consensus 54.0 · prior 54.6) · Manufacturing 53.2 (consensus 53.9 · prior 53.9) · Composite 56.0: investingLive· The prior Composite reading differs across sources and is excluded from the table
- Samsung Electronics shareholder returns 2026.08.21 Matter Related to Ad Hoc Disclosure Obligation (Fair Disclosure) · filing no. 20260821800763: Financial Supervisory Service electronic disclosure / total KRW90–110tn · Q3 cash dividend approx. KRW30tn (details at late-October board meeting) · remaining approx. KRW60–80tn (January 2027 board meeting) · approx. KRW15tn in treasury shares for employee compensation (separate) · policy to return 50% of 2024–2026 free cash flow · three-year cumulative KRW120–140tn· About five times the previous record set in 2020: Samsung Electronics Newsroom / Korea Economic Daily· Resolves the Aug. 21 report's "original final filing not yet confirmed" item / The KRW15tn in treasury shares for employee compensation was separately approved · purchase period Aug. 24–Nov. 21, 2026 · open-market purchases · 0.91% of market cap · no cancellation plan: Korea Economic Daily
- Aug. 24 Korea-market commentary The shareholder-return package did not exceed market expectations and was read as a sell-the-news event · expectations had reached as high as KRW150tn (about KRW130tn using 50% of this year's KRW263tn free cash flow) · Samsung affiliates weakened together: Korea Economic Daily / broad gains across stocks · strength in defense · cosmetics · secondary batteries · KOSDAQ led by EcoPro BM · EcoPro: Edaily / money leaving Samsung rotated into secondary batteries and materials · parts · equipment: Etoday· Because the cited articles were published intraday, their index and stock-count figures are not used in the body; only the background explanation is used
- FX USD/KRW domestic FX market 15:30 announced basic exchange rate 1,381.70 (prior 1,385.80 · down KRW4.10) / JPY/KRW per ¥100 basic exchange rate 869.27 (prior 871.82): dashboard· Per user confirmation, the 15:30 basic exchange rate is used as the USD/KRW closing reference value
- Sectors · Themes Naver Finance sector/theme performance (final close, Raw-data header collected Aug. 24 14:27:01 ICT = 16:27 Korea time). Of 79 sectors: 59 up · 3 unchanged · 17 down / of 219 themes: 146 up · 73 down / Semiconductors & Semiconductor Equipment −6.09%· of 171 stocks: 78 up · 6 unchanged · 87 down / Life Insurance −11.17%· of 4 stocks: 1 up · 1 unchanged · 2 down / Nonferrous Metals +7.84%· Precious Metals (Gold/Silver) +7.93%· 2026 H2 New Listings −10.55%
- The No. 1 sector changed for an eighth straight trading session Aug. 13 Electronic Equipment & Instruments → Aug. 14 Wireless Telecom Services → Aug. 18 Shipping → Aug. 19 Leisure Equipment & Products → Aug. 20 Semiconductors & Semiconductor Equipment → Aug. 21 Life Insurance → Aug. 24 Nonferrous Metals: Naver Finance sector-price raw data for each session· The Korean market was closed on Aug. 17
- SK Hynix treasury shares Aug. 19 board resolution · KRW40tn · 24.07mn shares · purchase period three months from Aug. 20 · full cancellation: Financial News· Actual executed amount will be confirmed in the results filing after the purchase period ends · issue timing not confirmed
- Upcoming Calendar · Consensus Korea August Consumer Sentiment Index Aug. 25 06:00 · August Business Survey Index Aug. 26 06:00 / U.S. Q2 GDP second estimate · July Personal Income · Personal Consumption Expenditures Aug. 26 21:30 / NVIDIA FY27 Q2 earnings Released Aug. 26 (Wed.) 1:20 p.m. PT · conference call 2:00 p.m. PT = Aug. 27 (Thu.) 05:20 · 06:00 Korea time (revenue consensus $91.8bn · adjusted EPS $2.08 · company guidance $91bn ±2%): NVIDIA Newsroom / Bank of Korea Monetary Policy Board Aug. 27 / Jackson Hole Symposium Aug. 27–29 (Chair Kevin Warsh keynote Aug. 28 10:00 ET = 23:00 Korea time: Federal Reserve calendar / MNI) / MSCI August regular rebalance effective at Aug. 31 close· Consensus unavailable for U.S. Q2 GDP second estimate and July PCE inflation · forecast cells in the table also left unavailable
Disclaimer: This material is for reference in analyzing market structure and organizing decision inputs; it is not a recommendation to buy or sell any specific financial product.
