As One Bucket Falls, the Other Rises. Gouache illustration of a stone well and pulley, one bucket descending as a full bucket rises. SK hynix and KOSPI recover despite Intel weakness. KOSPI 5,859.08 (+2.24%); KOSDAQ 734.36 (+1.38%).
2026.11.02
Snowshagal Daily

As One Bucket Falls,the Other Rises

KOSPI5,859.08 +2.24%
KOSDAQ734.36 +1.38%
THE DAY IN ONE LINE SK hynix and KOSPI rebound despite Intel's weak outlook
snowshagal.com
Snowshagal owl logo
SNOWSHAGAL · DAILY
MARKET RESEARCH
2026.11.02 · MON
KRX CLOSE 15:30
DAILY MARKET NOTE / 02 NOV 2026
Intel's Slump,
Reframed by Memory Prices

KOSPI5,859.08 +2.24%KOSDAQ734.36 +1.38%

WHY
Intel's weakness was largely blamed on rising memory prices; October's semiconductor export figures offered further supportIntel in U.S. regular trading -28.58% · PHLX Semiconductor Index -7.20% and semiconductor exports +259.4% · WHY 02
HOW
-1.62% at the open, turned positive at 9:36 a.m. and approached 5,900
-1.99%Previous closeClose +2.24%
The 9:01 a.m. low was the day's low · High at 2:44 p.m. +3.14% · PATH 01
WHERE
71.7% of stocks advanced, with gains extending from semiconductors into shipbuilding, construction and transportFour semiconductor and related large caps accounted for roughly 68% of the index gain · Market-cap-weighted estimate · SECTOR 04
WHO
Institutions bought a net ₩1.233tn; retail investors soldInstitutions bought SK hynix +₩255.8bn · Foreign investors' net selling narrowed to −₩373bn · MONEY 03
NEXT
U.S. chip stocks tonight; foreign flows and market breadth on November 3November 3: October CPI · November 3 (U.S. local time): midterm elections · NEXT 07
The market absorbed Wall Street's chip sell-off at the open, then rebounded 2.24%, with seven in ten stocks rising. But foreigners kept selling cash equities, the won weakened, and KOSPI failed to hold 5,900 at the close.
MARKET PATH / 01

-1.62% at the open; positive by 9:36 a.m.; up to +3.14% by 2:44 p.m.

Where the market turned, and how far the rebound went

IN PLAIN ENGLISHThe U.S. chip sell-off was priced into the opening gap. KOSPI opened -1.62% ; the 9:01 a.m. reading of 5,616.50 was the session lowCrossed above the previous close at 9:36 a.m. · Was rejected twice above 5,800 during the morningMoved above 5,850 at 12:21 p.m., then broke 5,900 at 1:22 p.m. · Gave back some gains after the high

KOSPI · 09:00~15:30-1.62% Open → 9:01 low → Positive at 9:36 → Two failed moves above 5,800 → Above 5,850 at 12:21 → High at 14:44
5,900 5,800 Previous close: 5,730.74 09:01 09:36 14:44 09:00 12:00 14:00 15:30

Chart zooms in on the day's trading range · Above the previous close (5,730.74) from 9:44 a.m. onward

OPEN5,637.77-1.62%
HIGH5,910.83+3.14%
LOW5,616.50-1.99%
CLOSE5,859.08+2.24%
THE READ

Damage contained at the openThe U.S. semiconductor decline was absorbed in the opening gap. With the low arriving just one minute after the open, selling did not spiral into a wider rout

During the sessionTwo early moves above 5,800 failed. After the 12:21 p.m. breakout, the floor held near 5,850; there was no sustained afternoon slide

Breadth versus turnoverSeven in ten stocks rose, yet turnover was only 0.81 times its five-day average. The rebound was broad, but trading volume did not follow through · SECTOR 04

What still worried investors rose from 52.32 to 53.34 · USD/KRW reached ₩1,343.8 per dollar (+₩9.5) · The index could not hold 5,900 into the close

OPEN · MORNING

-1.62% Opened weak, turned positive at 9:36 a.m.

Low of 5,616.50 at 9:01 a.m.; regained 5,700 by 9:26 a.m.Briefly slipped below the previous close around 9:40 a.m.; stayed above it from 9:44 a.m.

MIDDAY

Twice rejected at 5,800, then above 5,850 at 12:21 p.m.

After 5,820.35 at 10:16 a.m., fell to 5,747.58 at 11:01 a.m.; after 5,828.48 at 11:17 a.m., retreated to 5,784.96 by 11:27 a.m.Reached 5,856.44 at 12:21 p.m.; the subsequent low was 5,848.12 at 12:44 p.m.

AFTERNOON

Broke 5,900 at 1:22 p.m.; session high at 2:44 p.m.

High of 5,910.83 at 2:44 p.m.; retreated to 5,865.89 by 3:13 p.m.At 3:19 p.m., just before the closing auction, 5,875.08 → Close 5,859.08 · KOSDAQ recovered from 716.21 to finish at 734.36

WHY / 02

Investors recast Intel's weakness as evidence of strong memory pricing. Chip shares led the recovery, while beaten-down sectors broadened it

What started the rebound and what spread it

IN PLAIN ENGLISHThe primary catalyst was a rethink of Intel's results: memory shortages and higher prices, which Intel cited as a major drag, signaled pricing power for memory producersOctober semiconductor exports, released November 1, +259.4%were backward-looking data. They did not resolve doubts about returns on AI investment, but they did confirm current strength in memoryShipbuilding, power equipment, transport and construction extended the rally on orders and earnings after last week's declines. Government AI budget proposals and lower oil prices eased the backdrop

01

THE PRIMARY DRIVER · Intel's weakness points to higher memory prices

IntelQ4 revenue guidance of $15bn–$16bn · October 30 (U.S. local time) regular session -28.58% ·  -7.20%

Company explanationIntel identified AI-driven memory shortages and higher prices as major headwinds for PCs. A shutdown of its Israeli facility compounded the pressure; Q4 PC-chip sales were expected to fall more than 20%

The market's reinterpretationBrokerages argued this was not a sign of weakening memory demand: surging memory costs were squeezing PC makers, while memory suppliers retained pricing power

ExportsOctober semiconductor exports of $56.44bn · Versus the same month last year +259.4% · Roughly 49% of all exports

Unresolved risksU.S. doubts over returns on AI spending spread to AMD -10.88% and Nvidia -4.22%. Memory stocks got a different reading; the broader concerns did not disappear

+259.4%October chip exports · Year over year
VIEW SUPPORTING DATA
Shares · SK hynix +3.81% · Samsung Electronics +1.78% · 13 of the 15 Semiconductor Top 15 constituents advanced
U.S., October 30 local close · Dow -1.09% · S&P 500 -1.82% · Nasdaq -2.86%
Intel · Q4 adjusted EPS guidance (non-GAAP): $0.25 (versus $0.52 in Q3) · GAAP EPS: $0.10 (versus $0.60 in Q3) · Data Center & AI revenue: $7.3bn (+78%) · A two-week shutdown of the Israeli plant is expected to reduce Q4 revenue by about $300m
Intel CFO · A sustained recovery in PCs is not expected until memory supply improves and prices normalize
Amazon · Reported after the October 29 close and fell more than 10% at one point after hours · October 30 regular-session return: -1.41%.
Total exports · October: $115.28bn (+93.7%) · Computers: $5.85bn (+496.6%, including server SSDs) · Trade surplus: $42.5bn
On the other side · HL Mando Q3 operating profit ₩51.5bn (year over year -45%) · Brokerages attributed the miss to its inability to pass higher memory costs through to customers quickly enough · Shares -5.53%
02

THE BROADENING FACTORS · Orders, earnings, policy and oil helped oversold sectors rebound

ShipbuildingGlobal new-vessel contract value for January–September reached an estimated record $205.1bn, according to brokerages · Hanwha Defense USA won a $269m order for one U.S. medium landing ship (announced October 30)

Power equipmentHyosung Heavy Industries' Q3 operating profit was about 20% below expectations, but roughly ₩260bn–₩270bn in sales was deferred to Q4 · Order backlog hit a record ₩18.9tn

Government budgetPresident's November 2 budget speech proposed ₩21.3tn for semiconductors, physical AI and AI data centers, plus a special semiconductor account · The 2027 budget still requires National Assembly approval

Low-P/B listOn November 1, the Korea Exchange published its first sector-by-sector list of 151 companies with low P/B ratios · Hyundai Steel +11.61% · Lotte Shopping +9.28%

Easing pressureOil fell around 3% on hopes for Iran–Qatar negotiations; Brent hovered near $110/bbl · Talks continued, but no deal had been struck

+7.85%Shipbuilding TOP10 · All 10 constituents advanced
VIEW SUPPORTING DATA
Shipbuilding · Newbuilding Price Index: 187.20 on October 30, up 0.51 points week on week · LNG carrier day rates: $50,000, up +37% week on week · HD Hyundai Marine Engine +16.74% · Hanwha Ocean +9.80% · Samsung Heavy Industries +7.81%
Hanwha Defense USA · U.S. subsidiary of Hanwha Aerospace · Contracted with U.S. shipbuilding manager TOTE Services; options for three more vessels
Defense · Hanwha Aerospace declined on disappointing earnings on October 30 +6.32% · Hanwha Systems +8.10%
Hyosung Heavy Industries · Q3 revenue ₩1.7406tn (+7.2%) · Operating profit ₩243.5bn (+10.8%) · Consensus about ₩306bn · Q3 new heavy-industry orders ₩3.23tn (+122%) · Shares +13.32% · LS ELECTRIC +7.35%
U.S. transformer duties · Preliminary annual antidumping review announced October 30 (U.S. local time) · HD Hyundai Electric and Iljin Electric: 0%; LS ELECTRIC and Hyosung Heavy Industries: 4.32% (not individually examined) · Final decision pending
Transport · Hyundai Glovis Q3 revenue ₩9.0536tn (+23.1%) and operating profit ₩566.5bn (+8.1%), both quarterly records · Shares +11.26%
Construction · GS E&C +10.00%rebounded after a sell-off rather than on strong earnings. Q3 operating profit announced October 30 was ₩95.5bn (year over year -35.7%), roughly 19% below the ₩118.3bn brokerage estimate; shares fell that day -11.56% · Analysts highlighted a possible earnings recovery next year and its AI data-center business
Government budget · ₩2tn for semiconductor production capacity (early fab commissioning in the Seoul metro area and southwest cluster) · ₩2.1tn for electricity, water and industrial-park infrastructure · Insufficient evidence to call this a direct cause of the index rally
Low-P/B list · 96 KOSPI names and 55 KOSDAQ names, based on the bottom tier of sector P/B ratios over the past three years · More than 70% of the 151 stocks rose · List public until May 4 next year

The reassessment of Intel turned the index; company-specific catalysts in oversold sectors broadened the rally · Institutions led the buying · MONEY 03 · SECTOR 04

MONEY / 03

Institutions bought a net ₩1.233tn,
while individuals sold ₩1.348tn

Who moved the index today

IN PLAIN ENGLISHInstitutions were the principal buyers. SK hynix and Samsung Electronics ranked first and second in their net purchasesForeign investors sold SK hynix but bought Samsung Electronics. Their overall KOSPI net selling fell to less than one-quarter of the October 30 levelForeign investors also bought a net ₩341bn of futures, but hedging and position unwinds may be involved: this cannot automatically be read as a bullish bet

INSTITUTIONS · KOSPI CASH EQUITIES
+₩1.233tn

BreakdownFinancial investment firms +₩577.6bn · Pension funds +₩169.9bn

ConcentrationFour of institutions' five most-bought stocks were semiconductor or related large caps. The exception, ranked fourth, was Hyosung Heavy Industries +₩46.4bn

FuturesForeign investors futures +₩341bn · Institutions −₩190bn

Program trading −₩17.6bn · +₩104.5bn · Total +₩86.9bn

Turnover₩14.8702tn · 0.81× the five-day average · About 23% below October 30

Net KOSPI buyersInstitutions · Other corporations
Net KOSPI sellersIndividuals · Foreign investors
Net buying by stock · Foreign vs. institutional · 3:30 p.m. snapshot · KRW 100m
StockForeignInstitutional
SK hynix-2,165+2,558
Samsung Electronics+1,210+1,628
Samsung Electronics preferred-944+380
Samsung Electro-Mechanics-762+523
Samsung SDI-641-53

Foreigners' second- and third-largest net buys: SK Square +₩23.2bn and Daewoo E&C +₩15.2bnLargest institutional net sell: DB HiTek −₩10.1bn · Relatively smallSamsung SDI ranked fourth among foreign net sells and second among institutional net sells

FLOW DETAILS
Net purchases by investor · KRW 100m
InvestorKOSPIKOSDAQBoth markets
Foreign investors-3,730-320-4,050
Institutions+12,330+620+12,950
Individuals-13,480-260-13,740
Other corporations+4,880

On KOSDAQ, institutions +₩62bn · Foreign investors −₩32bn · Individuals −₩26bn

Futures and program trades · Nov. 2 vs. Oct. 30 · KRW 100m
CategoryNov. 2Oct. 30
ForeignKOSPI 200 futures+3,410+13,580
InstitutionsKOSPI 200 futures-1,900-13,120
IndividualsKOSPI 200 futures-1,190-260
ArbitrageProgram trading-176+2,663
Non-arbitrageProgram trading+1,045+1,958
TotalProgram trading+869+4,621

FIVE TRADING DAYSOct. 27–Nov. 2 KOSPI: foreigners −₩509bn · Institutions +₩2.772tn · Individuals −₩3.443tn · Foreign futures +₩1.501tn

Short sellingKOSPI ₩1.0496tn (Oct. 30: ₩1.4882tn) · No. 1: SK hynix ₩151.9bn · No. 2: Samsung SDI ₩77.3bn

Foreign net buysNos. 4–5: Hanmi Semiconductor +₩14.4bn · Hyundai E&C +₩13bn

Foreign net sellsNo. 5: Samsung C&T −₩23.5bn · HD Korea Shipbuilding & Offshore Engineering and Woori Financial Group ranked sixth and seventh

SECTOR / 04

Where the Market Was Strong — and Weak

Beyond the leaderboards: breadth across sectors

IN PLAIN ENGLISH71.7% of KOSPI stocks advanced, up from 25.8% on October 30: seven in ten gained in just one trading sessionFour semiconductor and related large caps supplied about 68% of the index rise, based on market-cap estimates; stocks outside the top ten by market cap added roughly 0.79 percentage pointsThe strongest sectors included shipbuilding, construction, transport and power equipment. REITs, real estate, high-dividend financials and pharmaceuticals lagged

STRONG

HD Hyundai Marine EngineStock+16.74%
Hyosung Heavy IndustriesStock+13.32%
Shipbuilding TOP10KRX thematic index+7.85%
ConstructionKOSPI sector+5.76%
Transportation & WarehousingKOSPI sector+5.31%

WEAK

Prime Office REITsKRX thematic index-4.50%
Samsung BiologicsStock-4.37%
Real EstateKOSPI sector-3.97%
PharmaceuticalsKOSPI sector-1.92%
Financial High Dividend TOP 10KOSPI 200 thematic index-1.75%

KOSPIAdvancers rose from 25.8% to 71.7% · 657 stocks advanced

KOSDAQAdvancers rose from 15.4% to 64.2% · KOSDAQ TOP 10 index +1.73%

Ground recoveredAbout 62% of October 30's 206.92-point loss · Performance versus the October 29 close: -1.32%

Roughly seven boats afloat out of ten = 71.7% of KOSPI stocks rose, versus 25.8% on October 30

SemiconductorsSemiconductor Top 15 +2.74% · 13 of 15 constituents advanced · AI Semiconductor: 13 of 20 gained

Index contributionsSK hynix about +0.83%p · Samsung Electronics about +0.49%p · SK Square about +0.15%p · Samsung Biologics about -0.06%p

Shipbuilding · Defense · PowerAll ten Shipbuilding TOP10 constituents rose · K-AI Defense TOP5+ +4.07% · AI Power Infrastructure +4.32%

Construction · Transport31 of 37 construction stocks gained · 22 of 26 transport and warehousing stocks advanced

LaggardsOnly 3 of 24 real-estate stocks advanced · None of the 16 Real Estate REITs & Infrastructure constituents rose · Insurance -0.61% · Securities -0.71%

SECTOR DATA
Estimated KOSPI contribution · Market-cap weighted
StockReturnContribution
SK hynix+3.81%+0.83%p
Samsung Electronics+1.78%+0.49%p
SK Square+5.91%+0.15%p
Samsung Electronics preferred+1.67%+0.05%p
Hyundai Motor+1.77%+0.02%p
Samsung
Biologics		-4.37%-0.06%p
LG Energy Solution-0.97%-0.02%p
KB Financial Group-1.35%-0.02%p
Top 10 total+1.45%p
Outside top 10+0.79%p

The four chip-related large-cap positions comprise SK hynix, Samsung Electronics common and preferred shares, and SK Square (investment holding company) · Together they added +1.53%pto the index, approximately 68% of KOSPI's 2.24% gainSamsung Electro-Mechanics rose -0.25%but was excluded from the four-stock group

Advancers and decliners · Including limit-up and limit-down stocks
MarketAdvancersDeclinersUnchangedAdvancing share
KOSPI6572302971.7%
KOSDAQ1,1205537164.2%
Closing returns · Oct. 30 and Nov. 2 · Two-day return versus Oct. 29 close
Index or stockOct. 30Nov. 2Two days
KOSPIIndex-3.48%+2.24%-1.32%
KOSDAQIndex-3.83%+1.38%-2.51%
Semiconductor Top 15KRX thematic index-5.82%+2.74%-3.24%
Shipbuilding TOP10KRX thematic index-0.47%+7.85%+7.34%
SK hynixStock-7.08%+3.81%-3.54%
Samsung ElectronicsStock-3.02%+1.78%-1.29%

Large capsHyundai Motor +1.77% · Samsung Life Insurance +0.55% · LG Energy Solution -0.97% · KB Financial Group -1.35%

KOSDAQSimmtech +6.08% · HLB +4.25% · Wonik IPS +2.82% · EcoPro +2.22% · Rainbow Robotics -0.14%

Sector indexes · 20 sectors present on both exchanges · Sorted by KOSPI return
SectorKOSPIKOSDAQ
Construction+5.76%+1.94%
Transportation & Warehousing+5.31%+3.14%
Transport Equipment & Parts+3.70%+2.01%
Machinery & Equipment+3.11%+1.33%
Metals+2.94%+4.07%
Electrical & Electronics+2.55%+1.71%
Manufacturing+2.42%+1.64%
Chemicals+2.34%+2.64%
IT Services+2.25%-0.81%
Distribution+2.20%+2.18%
Medical & Precision Instruments+2.20%+2.60%
General Services+1.52%+0.80%
Nonmetallic Minerals+1.46%+1.06%
Financials+1.12%+1.97%
Telecommunications+1.01%+0.93%
Textiles & Apparel+0.92%+0.97%
Paper & Wood+0.32%+1.48%
Food, Beverage & Tobacco+0.27%+0.96%
Entertainment & Culture+0.22%+0.79%
Pharmaceuticals-1.92%+0.88%

One-market sectorsKOSPI Electricity & Gas +1.83% · Insurance -0.61% · Securities -0.71%(20 of 29 stocks advanced) · Real Estate -3.97% · KOSDAQ Other Manufacturing -1.00%

Thematic indexes · Korea Exchange · Ranked by Nov. 2 return
ThemeOct. 30Nov. 2
Shipbuilding TOP10-0.47%+7.85%
AI Power Infrastructure-4.08%+4.32%
K-AI Defense TOP5+-4.88%+4.07%
K-AI Semiconductor TOP2+-6.13%+2.76%
Semiconductor Top 15-5.82%+2.74%
Blue Chip 25-4.12%+2.36%
AI Semiconductors-7.33%+2.09%
KOSPI Preferred Shares-3.92%+1.13%
Internet TOP 10-3.33%+1.09%
EV Top 15-2.43%+1.07%
K-AI Secondary Batteries-0.04%+1.06%
Secondary Battery TOP 10+0.27%+0.80%
K-AI KOSDAQ Biotech-3.24%+0.68%
Biotech Licensing-1.72%+0.53%
BBIG+0.14%-0.14%
High Dividend 20-0.72%-0.41%
Bio TOP 10+1.90%-0.57%
Game TOP 10+0.65%-1.11%
Real Estate REITs & Infrastructure-0.65%-2.84%
Prime Office REITs-1.71%-4.50%
KOSPI's ten largest stocks by market cap · Closing prices in KRW
StockCloseReturn
Samsung Electronics229,000+1.78%
SK hynix1,472,000+3.81%
Samsung Electronics preferred177,000+1.67%
SK Square950,000+5.91%
Samsung Electro-Mechanics1,193,000-0.25%
LG Energy Solution356,000-0.97%
Samsung Biologics1,422,000-4.37%
Hyundai Motor287,000+1.77%
KB Financial Group153,400-1.35%
Samsung Life Insurance272,000+0.55%

Limit-upKOSPI 4 · KOSDAQ 5 · No limit-down stocks on either exchange

CHANGE / 05

October 30's Questions, Today's Answers

Review of the conditions set in the previous session
YESTERDAY → TODAY

Condition 02 met both stages: the intraday low stayed above October 30's low and the close was 128.34 points higherConditions 01 and 03 met only stage one. SK hynix closed above ₩1,418,000 but remained foreigners' most-sold stock; overall foreign selling fell below ₩1tn, but did not turn into net buyingSK hynix, the biggest drag on the index on October 30, became its biggest contributor today · Contribution -1.61%p → +0.83%p

01
SK hynix closing priceStage 1: At least ₩1,418,000 · Stage 2: Foreign investors turn net buyers · Stage 1 met
1,418,000
→
1,472,000
02
KOSPI intraday low and closeStage 1: Low above 5,599.42 · Stage 2: Close above 5,730.74 · Both stages met
5,730.74
→
5,859.08
03
Foreign KOSPI cash-equity flowsStage 1: Net selling below ₩1tn · Stage 2: Turn to net buying · Stage 1 met
-16,170
→
-3,730

01 · SK hynix was foreigners' largest net sell (−₩216.5bn) and institutions' largest net buy (+₩255.8bn) · MONEY 03) · 02 · Today's intraday low: 5,616.50 · 03 · Flow values expressed in KRW 100m

CATALYST / 06

SK Square Doubles the Share of SK hynix Dividend Income Earmarked for Shareholders

A single disclosure that the market could price today
SK SQUARE · FAIR DISCLOSURE AT 10:16 A.M.
+5.91%

From subsidiary dividends to returns for parent-company shareholders

October 28SK hynix announces shareholder returnsNovember 2SK Square raises its distribution ratio

Of at least ₩6.2tn in expected SK hynix dividends, SK Square plans to return at least 60% of recurring dividends and all Kioxia-related special dividends to its shareholders

WHAT · What was decided

Disclosure“SK Square Shareholder Return Plan” · Fair disclosure filed November 2 at 10:16 a.m.

Dividend incomeBased on SK hynix's 2026 cash-dividend pool of at least ₩30tn · SK Square expects to receive at least roughly ₩6.2tn

PolicyReturn at least 60% of recurring dividend income through 2028 · Return 100% of Kioxia-related special dividend income

TERMS · Payout ratios and unresolved details
Shareholder-return policy · As disclosed
Recurring dividends receivedAt least 30% → at least 60%
(through 2028)
Kioxia special dividend100% of proceeds received
Investment gainsA continuing partial return to shareholders
Amount · Method · TimingTo be determined after approval of FY2026 financial statements

Company estimateAt least ₩4.3tn in shareholder returns · Largest amount since SK Square's establishment in 2021

Disclosure caveatExpected dividend income and actual outcomes may differ depending on SK hynix's earnings and board resolutions

SHAREHOLDERS · What this means for investors

What's answeredThe policy specifies what percentage of a subsidiary's dividends should ultimately reach shareholders of the holding company

The linkageBigger SK hynix dividends mean more distributable resources at SK Square · SK hynix Q3 dividend record date: November 30

Still to be decidedWhether returns take the form of cash dividends or buybacks and cancellations, and when, awaits approval of FY2026 financial statements

MARKET · How shares responded

Close₩950,000 (+5.91%) · Outperformed SK hynix (+3.81%) by 2.1 percentage points · Because this coincided with a chip-sector rebound, attributing the entire rise to the disclosure would be unwarranted

Index effectFourth-largest by market cap · Estimated contribution of about +0.15%p

FlowsSecond-largest foreign net buy +₩23.2bn · MONEY 03

NEXT / 07

What to Watch Next Session

Three checks for U.S. markets tonight and Korea on Tuesday, November 3 · Stage 1 would support today's interpretation; Stage 2 would signal further confirmation
Can the chip rebound persist?

TodaySK hynix ₩1,472,000 · Foreign investors −₩216.5bn · Institutions +₩255.8bn

Stage 1SK hynix closes at or above ₩1,472,000 on November 3

Stage 2Stage 1, plus foreign investors turn net buyers of SK hynix

Can market breadth hold for another day?

Today71.7% of KOSPI stocks rose · Close: 5,859.08

Stage 1At least 50% of KOSPI stocks rise on November 3

Stage 2Stage 1, plus KOSPI closes at or above 5,900 · A level breached intraday but not held at today's close

Will foreign cash-equity selling stop?

TodayKOSPI cash equities −₩373bn · Net buying in futures

Stage 1Net cash-equity selling of less than ₩373bn on November 3

Stage 2Foreign investors turn net buyers of KOSPI cash equities on November 3

MORE DATES AHEAD
Nov. 3 (U.S.) · September Job Openings and Labor Turnover Survey (JOLTS · Nov. 4, midnight KST)Nov. 3 (U.S.), after close · AMD earnings (morning of Nov. 4 KST)Nov. 4 (U.S.), after close · Qualcomm and Arm earningsNov. 5 · September current account · Planned cancellation of 23.69m SK hynix treasury shares · Final Samsung Biologics tender-offer resultsNov. 6 (U.S.) · October U.S. jobs report (10:30 p.m. KST)Nov. 16 · Samsung E&A scheduled final Q3 earnings filingNov. 20 · Hyundai Rotem treasury-share purchase window closesNov. 26 · Bank of Korea Monetary Policy Board meetingNov. 27 · Samsung Electronics Q3 dividend paymentNov. 30 · SK hynix Q3 dividend record dateDec. 8–9 (U.S.) · Federal Reserve meetingLate January 2027 · Samsung Electronics board decision on remaining shareholder returns

A day that absorbed the U.S. chip sell-off at the open, then bounced as memory strength and institutional buying took hold. But foreign cash-equity sales, won weakness and elevated volatility remain. The rebound was real; the uncertainty was not resolved. The next clues come from U.S. semiconductor shares tonight and foreign flows on November 3.

Full index, FX, rate and commodity figures are in MARKETThe Daily keeps only the figures needed to explain today's session.
MARKET ↗
SOURCES · DATA DEFINITIONS
Reference date: November 2, 2026 · Closing prices for indexes, sectors and stocks refer to the Korea Exchange regular session 09:00~15:30 · Korean market analysis and overseas news: Public information available before 8 p.m. KST (last checked at 9 p.m.) Indexes · KOSPI open 5,637.77, high 5,910.83, low 5,616.50 · KOSDAQ open 716.44, high 738.01, low 716.21 · Confirmed regular-session prices (proprietary collection) · VKOSPI EToday · USD/KRW: 3:30 p.m. close of Korea's onshore daytime FX session Asia Economy · Positive turn at 9:36 a.m. Korea Economic Daily Intraday chart · KOSPI one-minute bars downloaded from Toss Securities and sampled at five-minute intervals · Key times, including low, high and the two rejected moves above 5,800, are plotted from one-minute observations · All times KST Investor flows · Korea Exchange regular-session data (3:38 p.m. investor-category snapshot) · Foreign figures include other foreign investors · Other corporations calculated as the balancing residual of total investor net flows · After-hours market excluded · Investor-category figures are collected in ₩1bn units, so their final digits may differ from press reports (institutions +₩1.2329tn · Individuals −₩1.3475tn · Foreign investors −₩373.1bn) · Press-reported figures for financial investment companies, pension funds and other corporations: AlphaBiz Stock-level flows · Top foreign and institutional net purchases and sales, compiled by Yonhap Infomax from Korea Exchange data at 3:30 p.m. (Foreign investors · Institutions ; syndicated by Yonhap News) · Rankings through top 20: Pinpoint News · October 30 figures: Korea Exchange proprietary data captured at 3:51 p.m. Futures and program trading · KOSPI 200 futures by investor type as of 3:49 p.m. · Program trading: regular-session close as of 3:37 p.m. · Do not add program and investor flows, which use different classifications · Turnover: Korea Exchange 3:38 p.m. data · Five-day totals: confirmed five-session Korea Exchange aggregation Market breadth · Confirmed Korea Exchange advancing/declining stock counts at 4:10 p.m. · Advancers include regular gains and limit-up names (KOSPI 657/916; KOSDAQ 1,120/1,744) · Korea Economic Daily counted 652 gainers and 229 decliners under a different coverage universe; despite a small difference in counts, the advancing share still rounds to roughly seven in ten · Short-selling value covers both KRX regular trading and the Nextrade main market Sectors and index contributions · Korea Exchange sector and thematic indexes (including constituents and advancing/declining counts) · Contributions calculated internally as changes in individual market caps divided by estimated October 30 KOSPI market cap (approximately ₩4,730tn). These estimates may differ from official index-point contributions · Shipbuilding, defense, power-equipment, transport and construction returns: Pinpoint News · KOSDAQ large caps and HL Mando: AlphaBiz Intel and U.S. market · U.S. index closes from October 30 (proprietary collection) · Intel, AMD and Nvidia returns; Intel Data Center & AI revenue: Yahoo Finance · Intel Q4 outlook, PC-segment decline, Israeli facility and management commentary: Yahoo Finance · Intel GAAP and non-GAAP EPS: Intel earnings release (via Stock Titan) · Amazon regular-session move: Gotrade · Amazon after-hours data from sources cited in our October 30 edition Exports · October 2026 export and import trends: Ministry of Trade, Industry and Resources (released November 1) · Semiconductor share of exports: Aju News Oil and Middle East · Brent and WTI returns and state of negotiations (afternoon of November 2 KST) HDFC Sky Government budget · Items from the president's annual budget address: ZDNet Korea Brokerage analysis · Intel earnings reframed in terms of memory pricing power and easing fears of a wider Middle East conflict; Lee Kyung-min of Daishin Securities (Korea Economic Daily⁠·⁠AlphaBiz) · Samsung Securities' explanation of HL Mando's weakness (AlphaBiz) Shipbuilding · Global vessel contracts (Meritz Securities), Newbuilding Price Index and LNG rates (Shinyoung Securities) (NewsPim) · Hanwha Defense USA order: Economy Tribune · Hanwha Ocean submarine launch system: AlphaBiz U.S. transformer tariffs · Preliminary annual antidumping review: Global Economic Earnings · Hyosung Heavy Industries: Economy Tribune · Hyundai Glovis: Namdo Ilbo · GS E&C Q3 earnings: JobPost · The October 30 close of ₩26,000 (-11.56%) is derived from a report of a November 2 after-hours price of ₩28,350 (+9.04%):Jungang Economy News; brokerage consensus and next-year profits from Hana Securities (Korea Duty Free News); AI data-center operations from Mirae Asset Securities (Pinpoint News) Low-P/B list · 151 companies, market breakdown, selection criteria and publication period: NewsPim · Sources disagree on first-day advancers (115 names: Yonhap News (syndicated by Gangwon Domin Ilbo); more than 70%: Korea Economic Daily) · Hyundai Steel and Lotte Shopping moves from Korea Economic Daily SK Square · Fair disclosure, “SK Square Shareholder Return Plan” (DART , filed November 2 at 10:16 a.m.) · Company estimate of at least ₩4.3tn and largest return since launch (The Korea Herald business desk) · SK hynix ₩20tn on-market purchase, treasury-share cancellations and dividend timetable from our October 28–29 editions Calendar · U.S. ISM, midterm elections and jobs report: Financial News · U.S. earnings calendar: Stock Titan · Korea CPI and current-account figures: News1 · JOLTS U.S. Bureau of Labor Statistics · Preliminary Samsung Biologics tender-offer results: iNews24 (report filed at 4:24 p.m.)