PCE· NVIDIA· and the BOK policy meeting converge on one pageScroll down for the report· Tap the URL for previous issues
Snowshagal· DAILY2026.08.26 (Wed) Market Close
2026.08.26· DAILY MARKET REPORT· Summary6,800 reclaimed· Fewer stocks advanced· U.S. inflation and NVIDIA before the open
The close is 6,800; the question is 8/27
Intraday high6,887.18
Market breadth587↑· 275↓
Released before the openInflation· NVIDIA
KOSPI
6,808.21
▲0.97%
KOSDAQ
826.87
▼0.03%
Market context indicators 08.25 U.S. session· 08.26 Korea close
SOXPhiladelphia Semiconductor Index· Representative gauge of global semiconductor stocks
11,588.04
▲1.44%
Nasdaq
26,151.30
▲0.66%
US 30YU.S. Treasury 30Y· U.S. Treasury CMT· 08.25· 15:30 ET fixing· Previous 5.23%
5.17%
▼6bp
USD/KRWKorean FX market daytime trading, 15:30 close· Down KRW 1.3 from the previous day· Month-end exporter selling
1,384.8
▼1.30
Samsung ElectronicsNo. 1 by market cap· No. 1 net buy by foreigners· No. 1 net sell by individuals· Up for the first time in two days
261,500
▲1.75%
SK hynixNo. 2 by market cap· No. 1 net sell by foreigners· No. 2 net sell by individuals· Up for a second straight day
1,688,000
▲0.60%
Intraday flow
01
Pre-market · Open
· 8/25 U.S. regular session· Nasdaq +0.66%· S&P500 +0.32%· Dow +0.30%SOXPhiladelphia Semiconductor Index· Representative gauge of global semiconductor stocks+1.44%· NVIDIA +2.19%rebounded after seven straight sessions of declines· VIX fell from 15.85 to 15.45· Memory names recovered only half· Micron +2.48%· Seagate +3.40%· SK hynix ADR +2.68%recovered roughly 40~50% of the 8/24 decline· SanDisk -0.83%and Broadcom -0.56%fell for a second straight day· U.S. 30Y CMTOfficial Treasury yields by maturity calculated from indicative quotes around 15:30 ET· Not an actual traded closing yield5.17%(▼6bp)· 10Y 4.64%(▼6bp)fell for a second straight day· 10bp below 5.27% on 8/21· WTI 8/25 final $82.36·-3.1%· U.S. August Consumer Confidence Index 89.4· below the 90.2 consensus· July new home sales 607,000 units· below the 620,000 consensusboth at the lowest since January· Both data points missed, yet all three major indexes closed higher· Korea August Business Survey IndexBank of Korea survey· Above 100 = optimistic· Relative to the long-term average· Released 8/26 06:0099.6· up 1.1p from 98.5 in Julyhighest since September 2022· Manufacturing at 103.8, above 100 for a fourth straight month· The BOK cited improved non-manufacturing sentiment during the summer peak season· Korea market open· KOSPI 6,727.25(-0.23%)· KOSDAQ 824.77(-0.29%)15.49p gap down· one-tenth of the previous day’s 161.03p· Both markets opened lower
02
Morning
· Low just after the open 6,704.10(-0.57%)· 295.28p above the previous day’s low of 6,408.82The day’s low came within minutes of the open· The market never revisited that low· Same setup as the previous day· Rebounded during the 9 o’clock hour to 6,829.88(+1.29%)· 10:59, pulled back to 6,759.33(+0.25%)Direction changed twice in the morning alone· SK Innovation· After the 8/25 close, it announced the absorption merger of subsidiary SK IE Technology· plunged just after the openMerger ratio: 0.11 SK Innovation share for each 1 common share of SK IE Technology· No. 1 net buy by individuals +1,718 × KRW 100mn· No. 2 net sell by foreigners -1,085 × KRW 100mn· Buying shifted to Samsung affiliates and construction · nuclear power· supported the lower end of the indexA calculation that roughly KRW 30tn of Q3 cash dividends under Samsung Electronics’ 8/21 shareholder-return plan would flow to affiliated companies holding stakes· Sector · theme figures are summarized in the sector-strength section· KOSDAQ low 815.53(-1.41%)· rebounded afterward but failed to regain the previous close
03
Afternoon · Close
· Rose again after 11:00· Afternoon high 6,887.18(+2.14%)traded above the 8/20 and 8/18 closing levels intraday· also above the 8/24 high of 6,884.57· Gave back part of the gain after 14:00· The close was 78.97p below the high· KOSPI 6,808.21(+0.97%)· KOSPI200 1,071.16(+0.99%)The large-cap index gained 0.02%p more· The gap widened again after one day· KOSDAQ 826.87(-0.03%)· The two markets moved in opposite directionsPrevious day +1.70%→ turned lower today· The 832.21 high was above the previous close
Other key indicators
Dow
53,577.40
▲0.30%
S&P500
7,677.28
▲0.32%
VIXS&P 500 options implied volatility· Fear gauge· 08.25 final
15.45
▼2.52%
Dollar IndexU.S. dollar value against six major currencies· 08.26 16:12 live
98.966
▲0.05%
International gold24-hour traded asset· 08.26 16:12 live· Timestamp differs from the official close
WTI crude oil08.26 16:12 live· 08.25 final $82.36
80.48
▼2.28%
US 10YU.S. Treasury 10Y· U.S. Treasury CMT· 08.25· 15:30 ET fixing· Previous 4.70%
4.64%
▼6bp
KOSPI200
1,071.16
▲0.99%
LME CopperLME Cash· London market basis· As of 08.25
14,425.00
▲0.56%
LME AluminumLME Cash· London market basis· As of 08.25
3,188.00
▼0.86%
Check vs. previous-day view· 8.25 → 8.26
DirectionUpside 55· Downside 45 The market closed higher·Correct
Condition scorecardFour of five downside factors persisted, but the market still moved higher· Only two of five upside factors persisted· The rise in the No. 1 · No. 2 market-cap names decided the direction
Conditions that heldNo. 1 · No. 2 market-cap names both rose· Institutions bought cash equities for a second day· Program selling for a fourth day· Failed to regain the 8/20 close of 6,852.58· Trading value fell for a third straight day
Conditions that failedExpected broader participation → advancers narrowed from seven in ten to two in three· Expected KOSDAQ to hold above 820 → -0.03% turned lower· Expected institutional K200 futures buying to continue → -KRW 1tn - 2,850 × 100mn swung to net selling· Expected August sentiment to fall → Business Survey Index rose to 99.6
Price checkpointsKey checks were a recovery of the 8/20 close and support at the 6,408.82 low· The low held, and the index traded above the 8/20 close intraday but did not reclaim it on a closing basis
Review result
The directional call was right; renewed foreign buying of Samsung Electronics lifted the index· The stock foreigners sold for two days became their No. 1 net buy in a single day· The index rose even though more downside factors remained in place· Instead, the share of advancing stocks narrowed for the first time in four days.
Market Commentary
01
What reclaimed 6,800 was two megacapsThe parts of the market that lifted the index and those that dragged it down diverged 08.26 market close confirmed
Four key KOSPI levels today· vs. previous close 6,742.74
Point
Index
vs. previous day
High
6,887.18
+2.14%
Close
6,808.21
+0.97%
Open
6,727.25
-0.23%
Low
6,704.10
-0.57%
Intraday range 183.08p· The close was 78.97p below the high roughly half the previous day’s 338.34p range· The low came just after the open· The high came in the afternoon
15.49p gap down· one-tenth of the previous day’s 161.03p Opened lower for a second straight day, but the gap was much smaller· The gap was filled during the morning
The No. 1 · No. 2 market-cap names lifted the index· Samsung Electronics +1.75%· SK hynix +0.60%Samsung Life Insurance +8.60%· Samsung C&T +5.59% were part of the same axis· Seven of the top 10 market-cap names rose
Autos and transport were the weak spots· Hyundai Motor -3.09%· Samsung Electro-Mechanics -2.35%Automobiles -2.65%· Auto Parts -3.18%· Shipping Companies -6.31%· Air Freight & Logistics -3.39%
KOSDAQ was pushed back from its 832.21 high to 826.87· 0.28p below the previous close
The upper end of the market-cap table lifted the index· Below that, performance diverged name by name
02
The buyer behind the two stocks was Other corporationsTreasury-share purchases were the buying that actually lifted the index Unit: KRW 100mn
Other corporationsDomestic corporations not classified as individuals · foreigners · institutions· When a company buys its own shares, the trade is recorded in this account Net buying and the two stocks· KRX closing investor trading data
Category
Classification
Net buying
Other corporations total
Total
+15,849
SK hynix
Stock
+10,886
Samsung Electronics
Stock
+4,817
Two-stock total
Subtotal
+15,703
Excluding the two stocks
Subtotal
+146
Other corporations +KRW 1tn + 5,849 × 100mn· The two stocks accounted for +KRW 1tn + 5,703 × 100mn· Outside the two stocks +146 × KRW 100mnSK hynix’s KRW 40tn purchase program (three months from 8/20) and Samsung Electronics’ roughly KRW 15tn employee-compensation purchase program (8/24~11/21) are both under way· When a company buys its own shares, the trade is recorded in this account
Do not read this as a directional signal for investor sentiment· but do read it as buying that lifted the indexTreasury-share purchases are also actual market-executed buying· For Samsung Electronics, however, these shares are not being retired, so the purchases do not permanently reduce shares outstanding
The residual calculated as the opposite sign of the combined three investor groups is +KRW 1tn + 5,982 × 100mn· leaving a 133 × KRW 100mn difference versus other corporations· The attribution is not confirmed Same calculation as the “residual” in the previous report· Today, a stand-alone figure for other corporations was available in the closing data, so that figure is shown firstThe two values use different aggregation bases; the 133 × KRW 100mn difference will be assigned only after checking source data on the same basis
KOSPI net buying· Total by investor group Naver Finance investor-category aggregation
Investor
08.25
08.26
Residual outside the three groups
+15,919
+15,982
Institutions
+11,708
+7,594
Foreigners
-38,143
-1,162
Individuals
+10,516
-22,414
Foreigners -1,162 × KRW 100mn· Fourth straight day of selling, but only about 3% of the previous day’s size Four-day total since 8/21 -KRW 7tn - 7,830 × 100mn· The direction is unchanged, but the size has effectively disappeared
Individuals -KRW 2tn - 2,414 × 100mn· Swung to selling after two days of buying· Institutions +7,594 × KRW 100mn for a second straight day of buying
Net buying by stock· The two megacaps vs. everything else KRX data· Only the three main investor groups shown
Investor
Two stocks
Others
Foreigners
+2,892
-4,851
Institutions
+1,384
+5,164
Individuals
-19,893
-605
Foreigners· Samsung Electronics +6,713 × KRW 100mn No. 1 net buy· SK hynix -3,821 × KRW 100mn No. 1 net sell Over 8/24 · 8/25, foreigners had sold Samsung Electronics -KRW 3tn - 679 × 100mn in total· Overall -1,162 × KRW 100mn foreigners were net sellers, yet their direction was the opposite in the No. 1 market-cap stock
Individuals· Two stocks -KRW 1tn - 9,893 × 100mn· Sold back 40% of the volume accumulated over the previous two days Samsung Electronics -KRW 1tn - 2,801 × 100mn· SK hynix -7,092 × KRW 100mn· Outside the two stocks -605 × KRW 100mn meaning almost no movement outside the two stocks
Institutions· Two stocks +1,384 × KRW 100mn· Excluding the two stocks +5,164 × KRW 100mn· Buying continued for a second day on both sides The No. 2 · No. 3 net buys were Doosan Enerbility +960 × KRW 100mn· Hyundai Engineering & Construction +735 × KRW 100mn the same positions as the previous day
Flow concentrationShare of each side’s total represented by the top net-buying · net-selling stocks· KRX data· No. 1 share → top-five share· Unit: %
Investor
Buy side
Sell side
Foreigners
49 → 60
25 → 45
Institutions
10 → 29
11 → 38
Foreign buying became more concentrated while foreign selling broadened· The No. 1 buy share rose from 6% the previous day to 49% today while the No. 1 sell share fell from 45% the previous day to 25% today· Exactly the reverse of the previous day’s setup
Program tradingAutomated orders across multiple stocks· Index · flow transmission path-KRW 1tn - 3,068 × 100mn· Non-arbitrage -KRW 1tn - 3,343 × 100mnFourth straight day of selling, but only half the previous day’s -KRW 2tn - 6,291 × 100mn· Arbitrage was +275 × KRW 100mn
Samsung Electronics Short sellingSelling borrowed shares → a bet on a decline· Regular-session confirmed basis1,445 × KRW 100mn· 2.1% of trading value Shrank for a third straight day: 8/24 KRW 1tn + 167 × 100mn · 8.8% → 8/25 3,795 × KRW 100mn · 4.9% → today 1,445 × KRW 100mn · 2.1%· The top trading-value spot shifted to Samsung Electronics preferred shares at 2,725 × KRW 100mn · 28.7%
A large share of the buying that lifted the index came from the two companies buying their own shares
03
Index performance and breadth diverged again after one dayFive of six lines moved in the opposite direction vs. previous day
Performance and breadth in the two markets· One-day change
Item
08.25
08.26
KOSPI return (%)
+0.68
+0.97
KOSDAQ return (%)
+1.70
-0.03
KOSPI advancer ratio (%)
71.3
64.6
KOSDAQ advancer ratio (%)
68.8
52.8
Number of rising sectors (out of 79)
60
53
Number of rising themes (out of 219)
195
167
Among the six lines, only the KOSPI return expanded· The other five narrowed or reversed After lining up for the first time in three days, index performance and breadth diverged again in one day
KOSPI: 587 advancers vs. 275 decliners· Advancers were 2.1×vs. 2.9× the previous day· Advancer ratio: 64.2% → 71.3% → 64.6%
KOSPI200 +0.99%· Rose 0.02%p more than KOSPI The previous day it had risen 0.05%p less· A sign that large caps were the source of index strength
KOSDAQ advancer ratio 52.8%· 11.8%p below KOSPI The previous day it had been 2.5%p lower· KOSDAQ limit-up 8· Limit-down 0
Advancing stocks within semiconductors: 150 → 71The sector return improved from +0.47% to +1.10%, yet the number of advancing stocks in the sector fell to less than half
The index rose more, while fewer stocks advanced
◆ What the Close Means
Open 6,727.25· Opened with a 15.49p gap down from the previous close The 6,704.10 low was 295.28p above the previous day’s 6,408.82 low· Opened lower for a second straight day, but from a much higher level
Intraday high 6,887.18· Above the 8/20 close of 6,852.58 and the 8/18 close of 6,869.83 The close was again 44.37p below 6,852.58· Traded above it intraday, but failed to reclaim it on a closing basis
6,800 reclaimed· for the first time in three days since 8/21 Still 104.74p below the 8/21 close of 6,912.95
Five-session cumulative· KOSPI +5.21%vs. 8/19 close 6,471.17· Compound basis
Trading value KRW 22.38tn· 86% of the five-day average· Previous day KRW 23.70tn The index rose for a second straight day, while trading value fell for a third straight day
The 6,800 level was reclaimed· but the 8/20 closing level has still not been recovered on a closing basis
Sector Strength
Rising sectors
Life Insurance+7.65%
Electric Utilities+7.37%
Airlines+6.02%
Construction+5.77%
Falling sectors
Shipping Companies-6.31%
Nonferrous Metals-3.40%
Air Freight & Logistics-3.39%
Auto Parts-3.18%
79 sectors· Up 53· Down 26· No unchanged category· Seven fewer rising sectors than the previous day’s 60
Life Insurance +7.65%· Among 4 stocks: up 2· unchanged 1· down 1 No. 1 on 8/21 +8.88% → last on 8/24 -11.17% → No. 42 on 8/25 +0.71% → back to No. 1 today· With only four stocks in the sector Market-cap weightedSector index weights stocks in proportion to market capitalization· Larger stocks have more influence so Samsung Life Insurance alone drove the ranking
Semiconductors & Semiconductor Equipment +1.10%· Among 172 stocks: up 71· unchanged 4· down 97 The sector’s return ranking rose from No. 46 to No. 24, but the number of advancing stocks inside the sector fell from 150 to 71· 41% of stocks in the sector
Shipping Companies -6.31%· Among 11 stocks: up 2· No unchanged category· down 9 No. 3 on 8/24 +5.83% → 8/25 -0.52% → No. 79 today· No direct explanatory article on shipping was secured
Sector interpretation
01
The order within semiconductors flipped again in a single day
Order within semiconductors· Sector · theme · stock classifications shown
HBMHigh Bandwidth Memory· DRAM with multiple stacked layers to expand bandwidth
Theme
0.00%
Semiconductor Materials / Components
Theme
-0.45%
Semiconductor Substrates
Theme
-1.37%
Samsung Electro-Mechanics
Stock
-2.35%
The entire table flipped from the previous day· Samsung Electronics at the top· Samsung Electro-Mechanics at the bottom On 8/25, Semiconductor Substrates +5.58% was at the top· while unchanged Samsung Electronics had been at the bottom·Materials · parts · equipmentMaterials · Components · Equipment· Primarily suppliers providing materials · equipment to large semiconductor makers and the two large caps swapped places in a single day
Advancing stocks within semiconductors: 150 → 71· Declining stocks: 17 → 97 Sector return: +0.47%→ +1.10%· yet the number of advancing stocks fell to less than half· The two large stocks drove the ranking
Semiconductor Substrates -1.37%· Previous day +5.58% which had ranked No. 6 among 219 themes No. 214 today· Semiconductor Materials / Components also +4.01%→ -0.45%·HBMHigh Bandwidth Memory· DRAM with multiple stacked layers to expand bandwidth was unchanged
Samsung Electronics short-selling share narrowed from 4.9% to 2.1%· for a third straight day The No. 1 stock by short-selling value shifted to Samsung Electronics preferred shares: 2,725 × KRW 100mn · 28.7% share· Regular-session confirmed basis
The two large stocks lifted the sector, while materials · parts · equipment names moved the other way
02
Samsung affiliates returned after three days
Samsung affiliates and insurers today· Sector · stock classification shown
Name
Classification
Return
Samsung Life Insurance
Stock
+8.60%
Life Insurance
Sector
+7.65%
Samsung C&T
Stock
+5.59%
Non-life Insurance
Sector
+3.49%
Samsung Electronics
Stock
+1.75%
Samsung Electronics Preferred
Stock
+1.18%
Samsung Biologics
Stock
+0.88%
Samsung Electro-Mechanics
Stock
-2.35%
The catalyst remains Samsung Electronics’ 8/21 shareholder-return plan· roughly KRW 30tn of Q3 cash dividends Samsung Life Insurance holds 8.51% of Samsung Electronics· Samsung C&T 5.05%· Samsung Fire & Marine Insurance 1.49%· The calculation is that the dividends would flow directly into affiliate earnings
Brokerage estimates· If Q3 dividends are KRW 30tn, Samsung Life Insurance would receive roughly KRW 2tn + 5,500 × 100mn· Samsung Fire & Marine Insurance roughly 4,500 × KRW 100mn Daol Investment & Securities estimate on 8/24· On the same day, it raised Samsung Life Insurance’s target price from KRW 400,000 → KRW 450,000· Samsung Fire & Marine Insurance KRW 820,000 → KRW 850,000Hanwha Investment & Securities maintained its investment rating, citing the absence of guidance on how the dividend would be distributed to shareholders
No new disclosure or article on 8/26 was securedThis move extends the stake-related spillover from the 8/21 announcement and the 8/24 target-price upgrades
Foreigners bought Samsung Life Insurance +295 × KRW 100mn net· Institutions also +205 × KRW 100mnIndividuals were -489 × KRW 100mn in the opposite direction· In Samsung C&T, institutions +223 × KRW 100mn· Foreigners -179 × KRW 100mn showed a split
The same area that reversed three days ago rose again on the same catalyst
03
On a day oil fell· airlines and shipping diverged
One side rose while the other finished last· Sector · theme classification shown
Name
Classification
Return
Theme Parks
Theme
+8.35%
Electric Utilities
Sector
+7.37%
Leading Construction Stocks
Theme
+6.07%
Airlines
Sector
+6.02%
Construction
Sector
+5.77%
Nuclear Power
Theme
+4.35%
Postwar Reconstruction
Theme
+3.87%
Shipping Companies
Sector
-6.31%
Among 219 themes: up 167· down 52· Previous day up 195 Nuclear Power theme: among 50 stocks, up 44· unchanged 2· down 4
Oil· WTI 8/25 final $82.36·-3.1%Easing U.S. · Iran tensions· Third-country secondary sanctions removed from Iran sanctions· Talks on reopening navigation through the Strait of Hormuz were part of the same theme
Morning of 8/26· TASS reported a U.S. · Iran ceasefire agreement· including freedom of navigation in the Strait of Hormuz The White House denied that negotiations or such a plan were under way· On the same day, airlines ranked No. 3· while shipping finished last — the exact opposite
Nuclear · power names stayed near the top for a second straight day· Electric Utilities held the No. 2 spot No new progress was secured on 8/26 after the 8/24 Westinghouse report and the Ministry of Trade, Industry and Energy’s rebuttal· Institutional net buys No. 2 · No. 3 were Doosan Enerbility · Hyundai Engineering & Construction, unchanged from the previous day
Yesterday’s winners moved lower today· Nonferrous Metals +5.60% → -3.40%· Air Freight & Logistics +6.30% → -3.39%Precious Metals (Gold/Silver) also dropped to -1.69% and ranked No. 216· The No. 1 sector has changed for nine straight sessions· 8/24 Nonferrous Metals → 8/25 Construction → 8/26 Life Insurance
A single day of falling oil split sectors in opposite directions
What to Watch Next Session
What remains before the next Korea sessionRelease times are Korea time
8/26 21:30U.S. July PCE inflation· Q2 GDP second estimate· July durable goods orders Core inflationInflation excluding food and energy· The measure the Fed places greater weight on for policy decisions 3.3% YoY forecast· 0.2% MoM· Headline 3.6%
8/27 05:20NVIDIA FY27 Q2 earnings· 06:00 earnings call Revenue ConsensusAverage brokerage forecast· Separate from company guidance $91.8bn· Company guidance $91.0bn ±2%
During the 8/27 sessionBank of Korea Monetary Policy Board meeting at 09:00· Governor press conference at 11:10· Revised economic outlook at 13:30 The meeting follows the July 16 hike from 2.50% to 2.75%
Two of them will be known before the open· and one arrives during the session
Korea market close setup· Upside 55 / Downside 45
Upside 55%
Downside 45%
55:45· Not a forecast for the next session, but the 8/26 Korea close setup measured as relative weight only Tonight’s U.S. inflation, pre-dawn NVIDIA results, and the next-session BOK policy meeting sit outside this ratio· Those three will matter more for the next Korea session’s direction
Upside Foreigners’ No. 1 net buy was Samsung Electronics +6,713 × KRW 100mn· 49% of the total value of net-buy stocks· Over the previous two days, foreigners had sold -KRW 3tn - 679 × 100mn of this stockInstitutional cash equities +7,594 × KRW 100mn buying for a second straight day· The two megacaps +1,384 × KRW 100mn· others +5,164 × KRW 100mn both showed net buyingThe intraday high moved above the 8/20 close and the 8/18 close· but the close gave that level backProgram tradingAutomated orders across multiple stocks· Index · flow transmission path-KRW 1tn - 3,068 × 100mn· Fourth straight day of selling, but only half the previous day’s -KRW 2tn - 6,291 × 100mn· Arbitrage was +275 × KRW 100mnAugust Business Survey Index 99.6· up 1.1p from 98.5 in July· highest since September 2022
Downside Advancer ratio 71.3% → 64.6%· Rising sectors 60 → 53· Rising themes 195 → 167KOSDAQ -0.03%· Foreigners -918 × KRW 100mn· institutions -1,051 × KRW 100mn both sold· Turned lower after one dayIndividuals -KRW 2tn - 2,414 × 100mn swung to net selling· Sold back the two megacaps accumulated over the previous two days: -KRW 1tn - 9,893 × 100mn Trading value KRW 22.38tn· Five-day average: 87% → 86%· down for a third straight dayAdvancing stocks within semiconductors: 150 → 71· Declining stocks: 17 → 97
Variables excluded from the probability Residual outside the three groups +KRW 1tn + 5,982 × 100mn· Treasury-share purchase demand is mixed in, so it is not treated as a directional signal8/26 U.S. regular session and 21:30 U.S. Q2 GDP second estimate · July PCE inflation· Results not yet known8/25 U.S. close (Nasdaq +0.66% · SOX +1.44% · 30Y ▼6bp · WTI $82.36)· Already known before the 8/26 Korea open and therefore reflected once in today’s pricesForeigners in K200 futures +KRW 1tn + 380 × 100mn· institutions -KRW 1tn - 2,850 × 100mn· moved opposite to cash equitiesCash · futures closing spread +2.34· Cash closes at 15:30 / futures at 15:45, so the timestamps differ; excluded as directional evidenceSK Innovation’s announced absorption merger of its subsidiary· Only the merger ratio has been released and price discovery is still under way, so it is excluded as directional evidence8/27 05:20 NVIDIA FY27 Q2· 8/27 BOK policy meeting· 8/28 23:00 Jackson Hole keynote· 8/31 MSCI regular rebalance· Events whose outcomes are not yet known
Flow SnapshotAt the close
Foreign cash equities-1,162 × KRW 100mnFourth day of selling · size collapsed
Institutional cash equities+7,594 × KRW 100mnBuying for a second day
Individuals · two megacaps-KRW 1tn - 9,893 × 100mnSold back the shares accumulated over two days
KOSPI breadth64.6%Previous day 71.3%
KOSDAQ breadth52.8%Previous day 68.8%
Next confirmation points
FlowsWhether foreigners extend Samsung Electronics buying to a second day· Whether institutions extend buying to a third day· Whether individual selling continues
BreadthWhether the advancer ratio avoids narrowing further· Whether the 71 advancing semiconductor stocks increase· Whether KOSDAQ holds above 820 The question in this phase is whether the pattern of a rising index with narrowing breadth persists
Price · variablesWhether the 8/20 close of 6,852.58 is reclaimed on a closing basis· Whether today’s low of 6,704.10 holds· 8/27 BOK policy meeting· 8/27 05:20 NVIDIA earnings
Aggregation basis· Investor totals = Naver Finance· By stock = KRX· Different market universes → no cross-addition or share calculation· Residual = offsetting value calculated as the opposite sign of the sum of the three main investor groups
Foreigners· Fourth day of selling· Previous day -KRW 3tn - 8,143 × 100mn size fell to roughly 3% of that level
Institutions· buying for a second straight day· Previous day +KRW 1tn + 1,708 × 100mn size decreased from that level
Individuals· Swung to selling after two days of buying· Previous day +KRW 1tn + 516 × 100mn reversed direction from that level
Residual· Same size for a third straight day· Previous day +KRW 1tn + 5,919 × 100mnOther corporationsDomestic corporations not classified as individuals · foreigners · institutions· Treasury-share purchase accounts are captured here A residual that also includes accounts outside the three main investor groups· Ongoing treasury-share purchases are included here
Foreign cash and futures positions diverged again after one day Cash -1,162 × KRW 100mn· Futures +KRW 1tn + 380 × 100mn
KOSDAQ· Individuals +1,928 × KRW 100mn· Foreigners -918 × KRW 100mn· Institutions -1,051 × KRW 100mn· All three investor groups had the opposite sign in KOSDAQ versus KOSPI
Individuals who sold KOSPI bought KOSDAQ· For a second straight day, investor positioning was opposite across the two markets
vs. previous day· Advancer ratios narrowed in both markets· KOSPI by 6.7%p· KOSDAQ by 16.0%p
KOSPI advancers outnumbered decliners by 2.1×· vs. 2.9× the previous day
KOSDAQ’s advancer ratio was 11.8%p below KOSPI· The gap had been 2.5%p the previous day
Index direction and breadth direction diverged again after one day
Trading value KRX data
Market
Trading value
vs. five-day average
KOSPI
KRW 22.38tn
86%
KOSDAQ
KRW 4.43tn
84%
KOSPI trading value· Five-day-average ratio 87% → 86%· Absolute value KRW 23.70tn → KRW 22.38tn The index rose for a second straight day, but trading value fell for a third straight day· 76% of the 20-day average
KOSDAQ trading value· 79% → 84%· KRW 4.69tn → KRW 4.43tn The absolute value fell, but the ratio to the five-day average rose· because the average itself had moved lower
Short sellingSelling borrowed shares → a bet on a decline· Trading-value basis· 8/26 regular-session final· Collected at 16:10· KOSPI KRW 1.51tn· 4.9% of combined KRX+NXT trading value Previous day KRW 1.92tn · 6.0%· Same regular-session final basis
Short selling· KOSDAQ KRW 0.25tn· 4.7% on the same basis
No. 1 by short-selling value: Samsung Electronics Preferred 2,725 × KRW 100mn· share 28.7%· No. 2 SK hynix 2,724 × KRW 100mn · 3.8% No. 3 Samsung Electronics 1,445 × KRW 100mn · 2.1%· No. 1 by short-sale share: CJ CheilJedang Preferred 45.9%· No. 2 Korea Aerospace Industries 36.7%· No. 3 POSCO International 35.3%
Flows over the last five sessions
Flows over the last five sessions KOSPI· Naver Finance investor-category aggregation
Foreign selling continued for a fourth day, but shrank to roughly 3% of the prior size· By stock, Samsung Electronics switched to the No. 1 net buy· Individuals sold back the two megacaps they had accumulated over two days· Institutional buying continued for a second day
After absorbing the U.S. semiconductor plunge through a gap down, the index rebounded 333.92p from the low· Foreign selling continued for a third day, with SK hynix becoming the No. 1 net sell· Institutions swung back to buying after one day· Individuals bought for a second straight day
Confirmation of Samsung Electronics’ shareholder-return plan was treated as catalyst exhaustion· Most foreign selling was concentrated in the two megacaps· Institutions were net buyers outside the two stocks· Individuals swung to buying after two days of selling
After a gap-down open, large semiconductor names were the first to retrace their declines· KOSDAQ sell-sidecar triggered at 10:05· Broader coverage of the shareholder-return plan overlapped with strength in Samsung affiliates· Institutions turned to buying
Foreigners turned to buying after one day· Most of the buying was concentrated in the two megacaps· Institutional selling continued for a fourth day, but the size narrowed· Individuals turned to selling after two days of buying
Five-session total for 08.20~08.26· Foreigners bought on one day · sold on four· From the prior window (08.19~08.25) -KRW 9.45tn the 8/19 -KRW 3.49tn drops out, reducing the cumulative total· For institutions, the sign flipped as the five-day window rolled forward by one day
turned to buying after one day of selling· Previous day -1,020 × KRW 100mn· Moved opposite to cash· KRX derivatives, amount basis
Institutional futures
-KRW 1tn - 2,850 × 100mn
turned to selling after one day of buying· Previous day +3,910 × KRW 100mn· Opposite direction to foreigners· Individuals +2,470 × KRW 100mn
Program tradingAutomated orders across multiple stocks· Index · flow transmission path(KOSPI)
-KRW 1tn - 3,068 × 100mn
Arbitrage +275 × KRW 100mn· Non-arbitrage -KRW 1tn - 3,343 × 100mn· Selling for a fourth straight day
Cash · futures closing spread
+2.34
Cash 1,071.16· Futures 1,073.50· Sep 2026 contract· Closes differ at 15:30 / 15:45 → excluded from directional evidence
Arbitrage and non-arbitrage moved in opposite directions· for a fifth straight day
KOSDAQ Program tradingAutomated orders across multiple stocks· Index · flow transmission path· Arbitrage -68 × KRW 100mn· Non-arbitrage -915 × KRW 100mn· Total -983 × KRW 100mn· Same direction as KOSPI The two markets, which had diverged for two days, moved in the same direction again
Foreigners· Cash selling · futures buying diverged again after one day
Institutions· Cash +7,594 × KRW 100mn· Futures -KRW 1tn - 2,850 × 100mn· The two sides moved in opposite directions
Cash · futures closing spread· Previous +2.92 → +2.34· No same-timestamp futures price is available, so it is not treated as a directional signal
Program tradingAutomated orders across multiple stocks· Index · flow transmission path· Already included in investor flows → no separate addition
Foreigners’ No. 1 net buy, Samsung Electronics alone, accounted for 49%Top five: 60%· Total net buying was +KRW 1tn + 3,575 × 100mn· The previous day’s No. 1 was Samsung Electro-Mechanics at 500 × KRW 100mn · 6%
Foreign selling broadened in the opposite direction· No. 1 SK hynix accounted for 25%· Top five: 45% Both fell from the previous day’s No. 1 share of 45% · top-five share of 83%· Total net selling was -KRW 1tn - 5,534 × 100mn· one-third of the previous day’s -KRW 4tn - 4,838 × 100mn
The individual-investor list was an exact mirror image of the other two groups Individuals’ No. 1 · No. 2 net sells (Samsung Electronics · SK hynix) were foreigners’ No. 1 net buy and No. 1 net sell
Individuals bought Hyundai Motor Group names while foreigners · institutions sold them Individuals’ No. 2 · No. 3 · No. 4 net buys were Hyundai Motor · Hyundai Mobis · Hyundai AutoEver· All three ranked among the top net sells for foreigners and institutions
Nuclear · construction positioning matched the previous day Institutions’ No. 2 · No. 3 net buys, Doosan Enerbility · Hyundai Engineering & Construction, were individuals’ No. 3 net sell and foreigners’ No. 4 net sell· Calculated from source data
Next Flow
Tonight’s U.S. data → pre-dawn NVIDIA → opening gap → intraday BOK policy meeting → afternoon economic outlook
Before the openU.S. July PCE inflation and NVIDIA earnings arrive in sequence· The next Korea session opens with both answer sheets already in hand
Opening gapThe two results will hit large semiconductor names first· Key checks are support at today’s low of 6,704.10 and whether the 8/20 close is reclaimed
Intraday · Afternoon11:10 press conference after the BOK policy decision· 13:30 revised economic outlook· As important as the rate decision is the conditional rate outlookThe seven Monetary Policy Board members, including the governor, each plot three points for the policy-rate level they consider appropriate six months ahead· Released alongside the economic outlooks in February · May · August · November Its movement is central to the subsequent interpretation
Next check· Whether foreigners extend Samsung Electronics buying to a second day + whether the advancer ratio stops narrowing further
Upcoming Schedule5 events
8/26 (Wed) 21:30
U.S. Q2 GDP second estimate· July personal income · personal consumption expenditures· July durable goods orders
All three are released at the same time·Core inflationInflation excluding food and energy· The measure the Fed places greater weight on for policy decisions 3.3% YoY forecast· 0.2% MoM· Headline 3.6%· GDP advance estimate +1.5%· Second-estimate forecasts range from 1.5~1.7% depending on source· Durable-goods forecasts are too dispersed to use as a baseline
8/27 (Thu) 05:20
NVIDIA FY27 Q2 earnings
After the U.S. 8/26 regular-session close· Released at 05:20 Korea time· 06:00 earnings call· Revenue ConsensusAverage brokerage forecast· Separate from company guidance $91.8bn· Adjusted EPSEarnings per share· Net income ÷ shares outstanding· Adjusted EPS = excludes one-off gains and losses $2.08· Company guidance $91.0bn ±2%
8/27 (Thu)
Bank of Korea Monetary Policy Board
09:00 plenary meeting· Governor press conference at 11:10· 13:30 revised economic outlook· Current policy rate 2.75%· The meeting follows the July 16 increase from 2.50% by 0.25%p, so whether hikes continue is the question· Bond-market survey: hold 79% · hike 20%· Market year-end forecast: 3.00~3.25%
8/27 (Thu)~29 (Sat)
Jackson Hole Economic Policy Symposium
Theme: financial innovation and payments· Chair Kevin Warsh’s keynote is 8/28 23:00 (10:00 ET local time)· Published on the Fed calendar
8/31 (Mon)
MSCI August regular rebalance takes effect
Closing-price basis· Korea additions: LG Innotek· Deletions: HLB· LG Display· POSCO International· Samsung Epis Holdings
Indicator· Earnings / data baselines
Prior release· Prior and actual
Item
Prior
Actual
Korea August Business Survey IndexBank of Korea survey· Above 100 = optimistic· Relative to the long-term average· Released 8/26 06:00 All industries
98.5
99.6
Manufacturing in the same survey
103.2
103.8
U.S. August Consumer Confidence Index
90.2
89.4
U.S. July new home sales (thousand units)
678
607
U.S. 30Y CMTOfficial Treasury yields by maturity calculated from indicative quotes around 15:30 ET· Not an actual traded closing yield (%)
5.23
5.17
U.S. 10Y CMTOfficial Treasury yields by maturity calculated from indicative quotes around 15:30 ET· Not an actual traded closing yield (%)
4.70
4.64
Business Survey Index 99.6· highest since September 2022 Manufacturing at 103.8, above 100 for a fourth straight month· September outlook, all industries 99.6· Economic Sentiment Index 99.4, up 1.5p· The Bank of Korea cited improved non-manufacturing sentiment during the summer peak season
U.S. August Consumer Confidence Index 89.4· below the 90.2 consensus· Lowest since January July reading revised down from 90.8 to 90.2· Expectations Index fell 5.8p to 68.2· Present Situation Index rose 6.8p to 121.2
U.S. July new home sales: 607,000 units· MoM -10.5%June was revised up from 628,000 to 678,000, making the decline larger· The table’s prior value uses the revised figure
30Y 5.17%· -6bp vs. previous day· Down for a second straight day 10bp below 5.27% on 8/21· Five-session values are available in the source
Both indicators missed expectations, yet all three U.S. indexes closed higher Most of the gain was established at the open· NVIDIA earnings anticipation and falling oil coincided on the same day
Sequential checks ahead· Release times are Korea time
Name
Release
Forecast
U.S. Q2 GDP second estimate (%)
8/26
1.5~1.7
U.S. July Core inflationInflation excluding food and energy· The measure the Fed places greater weight on for policy decisions YoY (%)
8/26
3.3
Same indicator MoM (%)
8/26
0.2
U.S. July PCE inflation YoY (%)
8/26
3.6
U.S. July durable goods orders MoM (%)
8/26
secured
NVIDIA FY27 Q2 revenue ($100mn)
8/27
918
Same quarter adjusted EPSEarnings per share· Net income ÷ shares outstanding· Adjusted EPS = excludes one-off gains and losses ($)
8/27
2.08
Same-quarter company guidance ($100mn)
8/27
910
Bank of Korea policy rate (%)
8/27
2.75
NVIDIA’s $91.0bn ±2% is company guidance· separate from consensus Revenue consensus ranges from $91.8bn~$92.1bn by source; the lower figure is shown in the table· Release is after the U.S. 8/26 regular-session close· The date shown in the table is 8/27 Korea time
Release times also differ by source· Company notice: U.S. 8/26 1:20 PM PT = Korea 8/27 05:20 Some Korean media list 8/27 08:30; this report uses the company notice
Forecasts for U.S. July durable-goods orders range from -0.7%~+3.3% so no single baseline is used Median estimate is +1.7%· One institution’s forecast is +0.6%· June actual was +0.3%
U.S. Q2 GDP second-estimate forecasts vary by source 1.5~1.7%· Advance estimate was +1.5% The range is narrow, so the full range is shown in the table
For PCE inflation core comes first· Markets are more sensitive to core 3.3% than headline 3.6% Core is expected to remain unchanged from June· June headline was 3.7%
The BOK policy meeting is not just about one decision· Whether hikes continue· Revised growth · inflation outlooks·conditional rate outlookThe seven Monetary Policy Board members, including the governor, each plot three points for the policy-rate level they consider appropriate six months ahead· Released alongside the economic outlooks in February · May · August · November Those are the three variables.This is the first meeting after the July 16 hike from 2.50% to 2.75%· Even if the rate is held, an upward shift in the outlook changes the interpretation
Forecasts are split· Bond-market survey: hold 79% · hike 20% Some reports say expert surveys lean toward a hike, so neither side is used as the baseline· Market year-end forecast: 3.00~3.25%
Post-close variables· Prices are as of 16:12 Korea time on August 26· Not official closing prices
8/26 U.S. regular session and three 21:30 releases· U.S. Q2 GDP second estimate · July PCE inflation · July durable goods orders Core inflationInflation excluding food and energy· The measure the Fed places greater weight on for policy decisions Forecast: 3.3% YoY · 0.2% MoM· Headline 3.6%· All three results arrive before the next Korea open
8/27 05:20 NVIDIA FY27 Q2· The release comes after Korea’s large semiconductor names have risen for two straight days Revenue consensus and company guidance are listed under indicator · earnings baselines· NVIDIA had fallen for seven straight sessions through 8/24, then on 8/25 +2.19%
SK Innovation· Announced absorption merger of subsidiary SK IE Technology Decision made after the 8/25 close· Merger ratio: 0.11 SK Innovation share for each 1 common share of SK IE Technology· Individuals received the selloff as their No. 1 net buy
Hyundai Motor CEO Investor Day· Decided to retire roughly 2.505mn treasury shares · KRW 789.1bn Total shareholder return ratio of at least 35%· Minimum annual dividend KRW 10,000· Quarterly dividend maintained at KRW 2,500 per share· No new treasury-share purchase included
Samsung Electronics treasury shares for employee compensation· Third day of the 8/24~11/21 on-market purchase period roughly KRW 15tn· Not for retirement, so it does not permanently reduce shares outstanding· Daily execution size is not a disclosure item
WTI $80.48 (-2.28%)· International gold $4,693.80 (+1.20%)· Live price
Dollar Index 98.966 (+0.05%)· Bitcoin $79,000 (+0.05%)· Live price
8/27 Bank of Korea Monetary Policy Board meeting· 09:00 plenary meeting· Governor press conference at 11:10· Revised economic outlook at 13:30 The meeting follows the July 16 hike from 2.50% to 2.75%· Revised outlook and conditional rate outlookThe seven Monetary Policy Board members, including the governor, each plot three points for the policy-rate level they consider appropriate six months ahead· Released alongside the economic outlooks in February · May · August · November are released together
Foreigners bought back Samsung Electronics as their No. 1 net buy after selling it for two days· Individuals sold back the two megacaps they had accumulated over two days· Samsung affiliates and construction · nuclear power led· The index reclaimed 6,800 while the advancer ratio narrowed for the first time in four days
U.S. semiconductors: -2.70%; KOSPI absorbed the drop through a gap down and slid to -4.30% before reversing higher· Buying shifted into construction · nuclear power and supported the lower end· Large semiconductor names drew bottom-fishing in the afternoon· Seven in ten stocks advanced
The KRW 90tn~110tn Samsung Electronics shareholder-return plan announced after the 8/21 close was treated as catalyst exhaustion· Three support levels broke at once· Pressure came from the top of the market-cap table, while two in three stocks advanced
Cumulative over this week’s three sessions· KOSPI -1.51%vs. 8/21 close 6,912.95· Compound basis
Advancer ratio· two in three → seven in ten → back to two in three Returned to the starting configuration after three days
Official Treasury yields by maturity calculated from indicative quotes around 15:30 ET· Not called a “close” because it is not an actual traded closing yield
SOX
Philadelphia Semiconductor Index· Representative gauge of global semiconductor stocks
Business Survey Index
Composite business-sentiment index surveyed monthly by the Bank of Korea· Long-term average = 100; above 100 is optimistic · below 100 is pessimistic
HBM
High Bandwidth Memory· DRAM with multiple stacked layers to expand bandwidth
Materials · parts · equipment
Materials · Components · Equipment· Primarily suppliers providing materials · equipment to large semiconductor makers
EPS
Earnings per share· Net income ÷ shares outstanding· Adjusted figures exclude one-off gains and losses
Core inflation
Inflation excluding food and energy· Underlying trend excluding the two components with large price swings· The measure the Fed places greater weight on for policy decisions
conditional rate outlook
The seven Monetary Policy Board members, including the governor, each plot three points for the policy-rate level they consider appropriate six months ahead· Released alongside the economic outlooks in February · May · August · November
Other corporations
Domestic corporations not classified as individuals · foreigners · institutions· When a company buys its own shares, the trade is recorded in this account
Consensus· Guidance
Consensus = average brokerage forecast· Guidance = company-provided outlook
Short selling
Selling borrowed shares → a bet on a decline· 8/26 KOSPI KRW 1.51tn· 4.9% of combined KRX+NXT trading value· Regular-session final
Flow concentration
Share of each side’s total represented by the top net-buying · net-selling stocks· KRX data
Program trading
Automated orders across multiple stocks· Index · flow transmission path· Included in investor flows
Arbitrage· Non-arbitrage
Arbitrage = trades exploiting cash · futures price differences· Non-arbitrage = general program trading such as index tracking
Cash · futures closing spread
Cash closes at 15:30 / futures at 15:45 → because they are not the same timestamp, this is not called “basis” and is excluded from directional signals
USD/KRW 15:30 close
Korean FX market daytime trading, 15:30 close· The report’s USD/KRW reference value· Different basis from the base exchange rate
Base exchange rate
Published volume-weighted average of interbank FX transactions· Used only for JPY/KRW per 100 yen· USD/KRW uses the daytime-session close
Sector· Theme return
Sector = market-cap weighted· Theme = simple average of constituents· If values conflict, sector data takes precedence
Market-cap weighted
Sector index weights stocks in proportion to market capitalization· Larger stocks have more influence
Market breadth
Advancer ratio· Measures the breadth of advances · declines
Sources and data basis
Korea Exchange (KRX) · Naver Finance KOSPI 6,808.21(+0.97%, 08.26 market close confirmed) open 6,727.25 · high 6,887.18 · low 6,704.10 / KOSDAQ 826.87(−0.03%) open 824.77 · high 832.21 · low 815.53 / KOSPI200 1,071.16(+0.99%, closing basis) / market breadth: KOSPI advancers 585 · limit-up 2 · unchanged 47 · decliners 275 · limit-down 0, KOSDAQ advancers 907 · limit-up 8 · unchanged 111 · decliners 708 · limit-down 0 / trading value: KOSPI KRW 22.38tn (86% of five-day average · 76% of 20-day average) · KOSDAQ KRW 4.43tn (84% · 74%): dashboard (Naver Finance daily index candles · KRX source, market close confirmed·Last updated 08.26 14:12:26 ICT = 16:12 Korea time)·Market breadth is calculated as (advancers + limit-up) ÷ (all issues including unchanged): KOSPI 587÷909 = 64.6%, KOSDAQ 915÷1,734 = 52.8%·If closing articles differ at the decimal level, the dashboard’s regular-session confirmed figures are used / Intraday levels 6,829.88 · 6,759.33 from Jeonnam Ilbo 10:59 article· 09:25 level 6,787.67 from MoneyToday
Investor totals (Naver Finance investor-category aggregation, 08.26 market close) KOSPI individuals −KRW 2tn − 2,414 × 100mn· foreigners −1,162 × KRW 100mn· institutions +7,594 × KRW 100mn / KOSDAQ individuals +1,928 × KRW 100mn· foreigners −918 × KRW 100mn· institutions −1,051 × KRW 100mn / K200 futures foreigners +KRW 1tn + 380 × 100mn· institutions −KRW 1tn − 2,850 × 100mn· individuals +2,470 × KRW 100mn / Five-session cumulative (08.20~08.26) foreigners −KRW 6.07tn· institutions +3,950 × KRW 100mn· individuals −KRW 1.30tn, KOSDAQ foreigners −1,290 × KRW 100mn · institutions −2,980 × KRW 100mn · individuals +4,210 × KRW 100mn, K200 futures foreigners +780 × KRW 100mn · institutions +2,400 × KRW 100mn · individuals −2,830 × KRW 100mn / program trading: KOSPI arbitrage +275 × KRW 100mn · non-arbitrage −KRW 1tn − 3,343 × 100mn · total −KRW 1tn − 3,068 × 100mn, KOSDAQ arbitrage −68 × KRW 100mn · non-arbitrage −915 × KRW 100mn · total −983 × KRW 100mn / cash · futures closing spread +2.34 (cash 1,071.16 · futures 1,073.50 · Sep 2026 contract)·No 15:30 same-timestamp futures price is available, so this is not called “basis” · “contango” and is excluded from directional evidence·The closing article’s KRX-based figures (Etoday basis: foreigners +1,076 × KRW 100mn· institutions +8,438 × KRW 100mn · individuals −KRW 2tn − 5,250 × 100mn) use a different coverage universe and are not mixed with the above· Because even the sign for foreigners differs between the two bases, the main text uses only the Naver basis
Investor flows by stock Korea Exchange investor trading performance (entire stock market · regular-session final, source header collected 08.26 14:13:44 ICT = 16:13 Korea time). Foreign net-buy stock total +KRW 1tn + 3,575 × 100mn· net-sell stock total −KRW 1tn − 5,534 × 100mn· Samsung Electronics +6,713 × KRW 100mn· Korean Air +548 × KRW 100mn · LS ELECTRIC +320 × KRW 100mn · Samsung Life Insurance +295 × KRW 100mn · Alteogen +243 × KRW 100mn · SK hynix −3,821 × KRW 100mn· SK Innovation −1,085 × KRW 100mn · Hyundai Motor −1,017 × KRW 100mn · Hyundai Engineering & Construction −609 × KRW 100mn · Hyundai Mobis −481 × KRW 100mn / institutions Samsung Electronics +1,328 × KRW 100mn· Doosan Enerbility +960 × KRW 100mn· Hyundai Engineering & Construction +735 × KRW 100mn· Korean Air +405 × KRW 100mn · Samsung Electronics Preferred +350 × KRW 100mn · Samsung C&T +223 × KRW 100mn · Samsung Life Insurance +205 × KRW 100mn · No. 1 net sell SK Innovation −701 × KRW 100mn / individuals SK Innovation +1,718 × KRW 100mn· Hyundai Motor +1,439 × KRW 100mn · Hyundai Mobis +1,156 × KRW 100mn · Samsung Electronics −KRW 1tn − 2,801 × 100mn· SK hynix −7,092 × KRW 100mn· Doosan Enerbility −1,055 × KRW 100mn·Values outside the two megacaps are residuals calculated by adding the net-buy and net-sell totals, then subtracting the two stocks: foreigners −4,851 × KRW 100mn · institutions +5,164 × KRW 100mn · individuals −605 × KRW 100mn· Flow concentration matches between the dashboard display and recalculation from source data (foreign buy TOP1 49% · TOP5 60%, foreign sell TOP1 25% · TOP5 45%, institutional buy TOP1 10% · TOP5 29%, institutional sell TOP1 11% · TOP5 38%)· Investor-total basis (Naver) and stock-level basis (KRX) cover different market universes, so no cross-addition or share calculation is performed: KRX Information Data System
Other-corporation net buying (KRX closing investor trading data· 08.26 regular-session final) KOSPI other corporations +KRW 1tn + 5,849 × 100mn· SK hynix +KRW 1tn + 886 × 100mn· Samsung Electronics +4,817 × KRW 100mn· two-stock total +KRW 1tn + 5,703 × 100mn· excluding the two stocks +146 × KRW 100mn: user-verified closing data·The staged KRX Excel contains only three sheets — individuals · foreigners · institutional total — so stock-level other-corporation data cannot be recalculated from that file·A 133 × KRW 100mn gap remains versus the +KRW 1tn + 5,982 × 100mn residual calculated as the opposite sign of the three-group sum· Because the two values use different aggregation bases, attribution is not confirmed· It will be assigned once KRX totals on the same basis are secured
Confirmed closing prices by stock Samsung Electronics KRW 261,500 (+1.75%· market cap KRW 1,528.8tn) · SK hynix KRW 1,688,000 (+0.60%· KRW 1,233.1tn) · Samsung Electronics Preferred KRW 196,800 (+1.18%) · SK Square KRW 1,058,000 (−0.19%) · Samsung Electro-Mechanics KRW 1,330,000 (−2.35%) · Hyundai Motor KRW 408,000 (−3.09%) · LG Energy Solution KRW 351,000 (+0.43%) · Samsung Biologics KRW 1,599,000 (+0.88%) · Samsung C&T KRW 387,500 (+5.59%) · Samsung Life Insurance KRW 309,500 (+8.60%): dashboard top 10 by market cap (regular-session close)· Doosan Enerbility KRW 85,800 (+6.3%) is the closing price from the same dashboard’s short-selling table·SK Innovation’s confirmed close was not secured, so no return is shown in the main text· Only intraday returns were reported, and they differ by outlet from −13%~−16%
Short selling (KRX+NXT combined ·regular-market final · collected 08.26 16:10) KOSPI KRW 1.51tn · 4.9% of market / KOSDAQ KRW 0.25tn · 4.7% / No. 1 by trading value Samsung Electronics Preferred 2,725 × KRW 100mn (28.7%) · No. 2 SK hynix 2,724 × KRW 100mn (3.8%) · No. 3 Samsung Electronics 1,445 × KRW 100mn (2.1%) · No. 4 Hyundai Motor 680 × KRW 100mn (10.8%) · No. 5 Doosan Enerbility 414 × KRW 100mn (4.6%) / No. 1 by share CJ CheilJedang Preferred 45.9% · No. 2 Korea Aerospace Industries 36.7% · No. 3 POSCO International 35.3%·Directly comparable with the previous day’s KRW 1.92tn · 6.0% and Samsung Electronics 3,795 × KRW 100mn · 4.9%, which use the same regular-market final basis
08.25 U.S. market final Dow 53,577.40 (+0.30%)·S&P500 7,677.28(+0.32%) · Nasdaq 26,151.30 (+0.66%)·SOX 11,588.04(+1.44%)·VIX 15.45(−2.52%): dashboard (Yahoo Finance source)·SOX return from the official Nasdaq page calculates to +1.45%, differing at the second decimal place, so the dashboard value is used / Individual-stock 08.25 returns: Micron +2.48% · Seagate +3.40% · SK hynix ADR +2.68% · NVIDIA +2.19% · TSMC ADR +1.78% · SanDisk −0.83% · Broadcom −0.56%: StockAnalysis·Only 40~50% of the 08.24 decline was recovered, while SanDisk · Broadcom fell for a second straight day; therefore the report says “the rebound was only half” / The 08.25 U.S. market was driven by anticipation of NVIDIA earnings and falling oil · yields· Both indicators missed expectations: Investrade / WTI 08.25 final $82.36 (−3.1%): Rigzone·Some sources list $84.94, so the value shared by the majority is used· Brent is omitted because three sources disagree
U.S. Treasury yields U.S. Treasury Daily Treasury Par Yield Curve Rates (CMT · 15:30 ET fixing): 08.25 10Y 4.64% · 30Y 5.17%, 08.24 4.70% · 5.23%: U.S. Treasury· 30Y five-session path: 08.19 5.19% → 08.20 5.23% → 08.21 5.27% → 08.24 5.23% → 08.25 5.17%·CMT is calculated from indicative quotes around 15:30 ET, so it is not called a “close”· The dashboard’s ^TNX 4.639% uses a market-closing basis and is therefore not shown alongside it
U.S. August Consumer Confidence Index · July new home sales (released locally 08.25 10:00 ET) Consumer Confidence Index 89.4 (consensus 90.2 · July revised down from 90.8 to 90.2 · Present Situation 121.2 · Expectations 68.2): The Conference Board·InvestingLive / New home sales annualized 607,000 units (MoM −10.5% · June revised up from 628,000 to 678,000): Reuters · Yahoo Finance·The prior report’s consensus 90.3 · prior 90.8 and new-home-sales prior 628,000 were revised with the release and are updated here
Korea August Business Survey Index (Bank of Korea, released 08.26 06:00) all industries 99.6 (July 98.5 · +1.1p · highest since September 2022) · manufacturing 103.8 (103.2) · non-manufacturing 96.7 (95.2) · September outlook all industries 99.6 · Economic Sentiment Index 99.4 (+1.5p): The Korea Times·The Korea Herald·Survey period · sample size not secured
08.26 Korea market commentary · stock-specific catalysts Closing market commentary: Etoday·Infostock Daily Opening Check / SK Innovation’s absorption merger of SK IE Technology (announced after the 08.25 close · merger ratio 0.11 SK Innovation share per 1 SK IE Technology common share): MoneyToday·Korea Economic Daily / Hyundai Motor CEO Investor Day · retirement of roughly 2.505mn treasury shares worth KRW 789.1bn · total shareholder return ratio of at least 35% · no new purchases included: Etoday / Report of a U.S. · Iran ceasefire agreement (TASS · includes freedom of navigation in Hormuz · denied by White House) and strength in construction stocks: International News / Nuclear · power strength for a second day: International News / Airline strength and falling international oil prices: Business Post·Intraday returns and flow figures in quoted articles use different aggregation bases, so only background explanations are used, not those numbers· No direct explanatory article was secured for declines in Shipping Companies · Nonferrous Metals · Air Freight & Logistics
Catalyst behind strength in Samsung affiliates Samsung Electronics 2026 shareholder returns KRW 90tn~110tn · roughly KRW 30tn Q3 cash dividend (to be finalized by the October board meeting): Korea Economic Daily / Samsung Electronics stakes: Samsung Life Insurance 8.51% · Samsung C&T 5.05% · Samsung Fire & Marine Insurance 1.49% · Daol Investment & Securities estimated receipts: Samsung Life Insurance roughly KRW 2tn + 5,500 × 100mn · Samsung Fire & Marine Insurance roughly 4,500 × KRW 100mn · target prices: Samsung Life Insurance KRW 400,000→450,000 · Samsung Fire & Marine Insurance KRW 820,000→850,000: Edaily / Hanwha Investment & Securities maintained its rating because there was no guidance on dividend allocation: Aju Economy·No new disclosure · report was secured on 08.26· The basis is the ownership spillover from the 08.21 announcement and the 08.24 target-price upgrades
FX USD/KRW Korea daytime FX market 15:30 close KRW 1,384.8 (down KRW 1.3 from the previous day · month-end exporter selling): Etoday·The 15:30 daytime-session close is the USD/KRW reference value · it is not mixed under the same label with the base exchange rate· The dashboard’s 15:30 base exchange rate of KRW 1,384.70 uses a different basis and is not used / JPY/KRW per 100 yen base exchange rate KRW 870.58 (previous KRW 869.81): dashboard· Only JPY/KRW uses the base exchange rate basis
Sectors · themes Naver Finance sector · theme quotes (market close confirmed, source header collected 08.26 14:12:14 ICT = 16:12 Korea time). Among 79 sectors: up 53 · down 26 / among 219 themes: up 167 · down 52 / Life Insurance +7.65% · among 4 stocks up 2 · unchanged 1 · down 1 / Electric Utilities +7.37% / Airlines +6.02% / Construction +5.77% · among 78 stocks up 54 · unchanged 13 · down 11 / Conglomerates +4.51% / Non-life Insurance +3.49% / Machinery +2.95% / Semiconductors & Semiconductor Equipment +1.10% · among 172 stocks up 71 · unchanged 4 · down 97 / Automobiles −2.65% / Auto Parts −3.18% / Air Freight & Logistics −3.39% / Nonferrous Metals −3.40% / Shipping Companies −6.31% · among 11 stocks up 2 · down 9 / Theme Parks +8.35% / Leading Construction Stocks +6.07% / Fittings (pipe joints)/Valves +5.89% / Nuclear Power +4.35% · among 50 stocks up 44 · unchanged 2 · down 4 / Postwar Reconstruction +3.87% / System Semiconductors +0.47% / Representative Semiconductor Stocks (Manufacturing) +0.35% / Semiconductor Equipment +0.03% / HBM 0.00% / Semiconductor Materials / Components −0.45% / Semiconductor Substrates −1.37% / Precious Metals (Gold/Silver) −1.69% / Leading Automobile Stocks −2.19% / Shipping −6.05%
No. 1 sector changed for nine straight trading days 08.13 Electronic Equipment & Instruments → 08.14 Wireless Telecom Services → 08.18 Shipping Companies → 08.19 Leisure Equipment & Products → 08.20 Semiconductors & Semiconductor Equipment → 08.21 Life Insurance → 08.24 Nonferrous Metals → 08.25 Construction → 08.26 Life Insurance: Naver Finance sector quote source data for each trading day·Domestic market closed on 08.17· 08.21 and 08.26 share the same sector, but different sectors came in between, so the day-by-day rotation continued
Treasury shares Samsung Electronics employee-compensation program roughly KRW 15tn · separately approved · acquisition period August 24~November 21, 2026 · on-market purchases · no retirement plan: Korea Economic Daily·Daily execution size is not a disclosure item and cannot be confirmed / SK hynix approved 08.19 · KRW 40tn · acquisition period three months from 08.20 · full retirement: Financial News·Actual execution size will be confirmed in the completion disclosure after the period ends
Upcoming schedule · consensus U.S. Q2 GDP second estimate · July personal income · personal consumption expenditures · July durable goods orders at 8/26 21:30 (GDP advance estimate +1.5% · second-estimate forecasts 1.5~1.7% depending on source · July PCE inflation headline 3.6% YoY · core 3.3% YoY · core 0.2% MoM forecast (core unchanged from June · June headline 3.7%) · durable-goods orders MoM range -0.7%~+3.3% · compiled median +1.7% · separate institutional forecast +0.6% · June actual +0.3%): TokenPost·Econoday·Continuum Economics·TradingKey (core PCE inflation)·IndexBox·Core YoY consensus differs by source at 3.2~3.3%; the upper value is shown on screen and the range is retained here· Sources agree on headline 3.6% / NVIDIA FY27 Q2 earnings Released U.S. 8/26 (Wed) 1:20 p.m. PT · earnings call 2:00 p.m. PT = Korea time 8/27 (Thu) 05:20 · 06:00 (revenue consensus $91.8bn · adjusted EPS $2.08 · company guidance $91.0bn ±2%): NVIDIA Newsroom·Revenue consensus ranges from $91.8bn~$92.1bn by source; the lower figure is shown in the table and the range is retained here· Some Korean media list the release time as 8/27 08:30, so the company notice is used instead / Bank of Korea Monetary Policy Board on 8/27 · current policy rate 2.75% · raised 0.25%p from 2.50% on July 16 (first tightening turn in 3 years 6 months) · market year-end forecast 3.00~3.25%: EBN· Korea Financial Investment Association bond-market survey (08.13~19): hold 79% · hike 20%: Maeil Newspaper· Some expert surveys also report a tilt toward a hike: Aju Economy·Neither side is used as the baseline· BOK meeting-day schedule: 09:00 plenary meeting · 11:10 governor press conference on monetary policy · 13:30 revised economic outlook: NewsPim weekly domestic financial schedule· Meeting date from Bank of Korea 2026 Monetary Policy Board regular-meeting schedule·Since February 2026, the conditional rate outlook extends the horizon from three months to six months, with all seven Monetary Policy Board members plotting three points each· Published four times a year with the February · May · August · November economic outlooks: Kyunghyang Shinmun / Jackson Hole Symposium 8/27~29 (Chair Kevin Warsh keynote 8/28 10:00 ET = 23:00 Korea time: Federal Reserve calendar) / MSCI August regular rebalance applied at the 8/31 close · addition LG Innotek · deletion HLB· LG Display· POSCO International· Samsung Epis Holdings: Sisa Journal
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.
2026.08.26· Snowshagal KOSPI Daily Reportwww.snowshagal.comPrevious issues are available at www.snowshagal.com.
