Sunshine Elsewhere, Rain on Our Roof

DAILY MARKET NOTE / 05 NOV 2026

U.S. stocks rallied,
but Korean shares fell 5% with AI chips

KOSPI5,383.80 -5.28%KOSDAQ678.41 -5.11%

WHY

Post-election fears of tougher U.S. AI data-center rules triggered an overnight selloff in U.S. chip and memory stocks, which Korea's chipmakers followed.The Dow rose +3.03%, even as Micron fell -7.00% and Nvidia -3.17% · WHY 02

PATH

-1.82% at the open; a sell-side trading curb at 10:16 a.m., then -6.10% by 2:57 p.m.

Close -5.28%Prev. close

The first minute was the day's high; the index stayed below the previous close throughout. PATH 01

SECTORS

Semiconductors, AI components, power equipment and defense declined; biotech, internet and gaming advanced.Samsung Electronics and SK hynix accounted for roughly 78% of the index decline; 58.5% of KOSPI stocks fell. SECTOR 04

FLOWS

Foreign investors sold a net KRW 3.393tn; retail investors bought a net KRW 2.272tn.Foreign net selling: SK hynix -KRW 1.5436tn; Samsung Electronics -KRW 1.1687tn · MONEY 03

NEXT

Will U.S. chips rebound tonight, and will today's low of 5,336.88 hold?Will foreign selling ease for the first time in three sessions? Lumentum earnings; NEXT 06

U.S. benchmarks rose as election uncertainty faded, but AI chipmakers and data-center equipment stocks plunged on regulatory fears. Korea's semiconductor-heavy KOSPI fell from the open, and foreign selling intensified again in the afternoon, taking it down to -6.10%. Samsung Electronics and SK hynix bore most of the index's losses, but nearly six in ten KOSPI stocks declined: selling spread well beyond the two megacaps.

MARKET PATH / 01

-1.82% at the open, a brief rebound, then -6.10% at 2:57 p.m.

Where the selling hit, and where stocks held up

THE SHORT VERSIONThe KOSPI opened -1.82% as it priced in the U.S. chip selloff. Its session high, 5,586.46, came in the first minute after 9 a.m.; it never regained that level.A sell-side at 10:16 a.m.; after a morning low at 10:21, the index recovered 140.18 points by 11:25.Afternoon rebounds made successively lower highs. The index bottomed at 5,336.88 at 2:57 p.m. and closed at 5,383.80, down 300 points from the prior session.

KOSPI · 09:00~15:30-1.82% Open → 10:16 sell-side curb → 10:21 morning low → 11:25 rebound high → 14:57 session low → closing auction

Chart zooms in on today's trading range. The KOSPI remained below the prior close (5,683.80) all day; guide lines mark 5,500 and the Nov. 4 low (5,421.72).

OPEN5,580.09-1.82%

HIGH5,586.46-1.71%

LOW5,336.88-6.10%

CLOSE5,383.80-5.28%

THE READ

The open was the highThe U.S. chip selloff was priced in at the opening bell. The day's highest print came immediately, with none of the catalysts that had reversed the market intraday on Nov. 4.

A short-lived reboundThe rebound after the trading curb lasted only a little over an hour. Afternoon rebound highs stepped down from 5,473.55 at 12:41 p.m. to 5,449.95 at 1:47 p.m. and 5,404.58 at 2:12 p.m.

A second afternoon leg downThe afternoon slide coincided with a renewed acceleration in foreign selling. A sell-side trading curb also hit the KOSDAQ at 2:27 p.m. MONEY 03

Impact vs. breadthSamsung Electronics and SK hynix dominated the index-point loss. Yet 58.5% of KOSPI names and 73.7% of KOSDAQ names declined, taking the selloff beyond chips. Gains were concentrated in companies reporting earnings and beneficiaries of lower oil prices. SECTOR 04

Intraday rangeThe high-to-low swing was 249.58 points, roughly 4.39% of the prior close—narrower than Nov. 4's 406.41 points but largely one-directional. Trading value reached KRW 22.6176tn, 1.18 times the five-day average.

OPEN · MORNING

Sell-side trading curb just 76 minutes after the open

Below 5,500 by 9:38 a.m.; at 10:16 a.m. the KOSPI breached the Nov. 4 low of 5,421.72, triggering a sell-side trading curb at 10:16:19 a.m.The morning low was 5,386.29 at 10:21 a.m., a change of -5.23%

MIDDAY

Recovery to 5,526.47 at 11:25 a.m., then renewed selling

A 140.18-point recovery from the morning low to -2.77%, followed by a slide back below 5,500 at 11:30 a.m.The index fell to 5,446.38 at 12:12 p.m. and 5,401.92 at 1:55 p.m., approaching 5,400.

AFTERNOON

Below 5,400 at 2:05 p.m.; day's low at 2:57

After a brief lift to 5,404.58 at 2:12 p.m., the KOSPI fell below 5,350 at 2:52 p.m. and hit its session low of 5,336.88 at 2:57.At 3:19 p.m. the index stood at 5,377.78; from 5,378.32 immediately before the closing auction, it added 5.48 points to finish at 5,383.80. The KOSDAQ rebounded from a 673.38 low to close at 678.41.

WHY / 02

U.S. benchmarks rose while AI chips fell. Korea's semiconductor-heavy KOSPI followed the chips.

What drove the decline—and the sector split

THE SHORT VERSIONOn Nov. 4, Korean stocks initially sank during the U.S. election count, reaching -4.02%, but recovered to finish higher; major chip stocks largely held their ground.In the subsequent U.S. session, Democratic control of both chambers raised concerns about AI data-center regulation, prompting selling across chips, memory and data-center infrastructure.The same election result was also read as raising the prospect of an earlier end to the Iran war: oil plunged, defense stocks fell, and beneficiaries of cheaper oil rose.

The main catalyst: regulatory fears hit U.S. chip and data-center stocks

U.S. close, Nov. 4 local time: benchmarks and megacap tech rose, chips and memory fell
Index / stock	Change
Dow Jones Industrial AverageIndex	+3.03%
S&P 500Index	+1.58%
MicrosoftMegacap tech	+6.68%
AmazonMegacap tech	+6.12%
PHLX Semiconductor IndexIndex	-3.13%
NvidiaAI chips	-3.17%
MicronMemory	-7.00%
SandiskMemory	-7.91%

The divergenceDelays in data-center construction would push back server, memory and electrical-equipment orders. The big tech companies spending on AI rose, while their component and equipment suppliers fell.

TexasBroker estimates put about a quarter of proposed U.S. data-center capacity in Texas. Republican Gov. Greg Abbott had already ordered a state permitting halt on Sept. 21; the Democratic governor-elect campaigned on an even tougher construction moratorium. Whether projects already under construction would be affected remains unclear.

Local ballot measuresOf 41 data-center measures on Nov. 3 local ballots, 40 favored limits on development and one went the other way. Nine of the 41 were advisory votes without binding legal force.

Korea's responseSamsung Electronics and SK hynix, which had trimmed their losses during the Nov. 4 vote count, fell -7.57%⁠·⁠-9.46% today, with foreigners selling both heavily. MONEY 03

The counterargumentBrokers note that there is no nationwide U.S. ban; outcomes depend on state and local authorities. The new Congress convenes Jan. 3, 2027, and actual cancellations of server or memory orders have not yet been confirmed.

-12.15%KRX AI Semiconductor Index: all 20 constituents fell

View supporting details

U.S., Nov. 4 local session: Nasdaq +1.44%; Marvell -7.08%. AMD was an exception among chipmakers, supported by its earnings: +1.01%

U.S. data-center cooling, power and construction-related stocks fell roughly 10–20% in morning trading on Nov. 4, with especially steep drops among companies holding Texas data-center sites.

Arizona Democratic Rep. Yassamin Ansari posted on X that a temporary pause on advanced AI development should be on the new Congress's first-day agenda.

During Korean trading, Micron fell another -2.2% in U.S. overnight trading. Qualcomm reported earnings after the Nov. 4 U.S. close and fell after hours; handset-chip revenue was USD 5.137bn (-26%). Arm was down roughly -2%

At Korea's Nov. 4 close: Samsung Electronics -0.68%; SK hynix -0.14%; KRX Semiconductor Top 15 Index +1.17%

The other sector driver: a sharp oil drop on hopes of an earlier end to the Iran war

The connectionBroker commentary linked the Democratic landslide to hopes of a quicker end to the Iran war. Brent crude fell -8.7%⁠·⁠WTI -8.3%

DefenseK-AI All 10 constituents of the KRX Defense Top 5+ Index fell. LIG Defense & Aerospace -14.74%; Hanwha Systems -13.62%; Hanwha Aerospace -7.48%. Concerns over closer scrutiny of defense spending added pressure.

Cheaper-oil beneficiariesJeju Air +13.75%; T'way Air +9.72%; Hankook Tire & Technology +12.98%. Companies that stand to benefit from lower fuel and feedstock costs rose.

The counterargumentBroker commentary suggested a limited earnings impact on Korean defense firms. Iran has threatened to widen retaliation against Gulf states supporting U.S. operations; war risks remain.

-9.30%KRX Defense Theme Index: all 10 constituents fell

View supporting details

U.S., Nov. 4 local session: Lockheed Martin -6.88%; Northrop Grumman -4.53%

Korean defense: Hyundai Rotem -5.75%; Hanwha Aerospace KRW 680,000; LIG Defense & Aerospace KRW 358,500.

Foreign investors sold while retail investors bought. MONEY 03 · SECTOR 04

MONEY / 03

Foreign investors sold KRW 3.393tn;
retail investors bought KRW 2.272tn.

Who moved the index today

THE SHORT VERSIONForeign net selling on the KOSPI exceeded KRW 1tn for a third straight day and increased each session: Nov. 3 -KRW 1.515tn → Nov. 4 -KRW 2.507tn → today.About 79% of foreign investors' aggregate net selling by KOSPI constituent was concentrated in SK hynix and Samsung Electronics. Those were also retail investors' top two net purchases.Elsewhere, flows reversed: institutions bought Celltrion, and foreign and institutional investors bought NAVER while retail sold.

FOREIGN INVESTORS · KOSPI CASH

-KRW 3.393tn

ConcentrationSK hynix -KRW 1.5436tn; Samsung Electronics -KRW 1.1687tn; Samsung Electro-Mechanics -KRW 356.3bn. NAVER led foreign net buying at +KRW 71.1bn

PROGRAM TRADING +KRW 256.5bn · -KRW 1.9547tn; total -KRW 1.6982tn

Cumulative foreign net selling, KOSPI cash market. The 10:20 a.m. and 12:53 p.m. figures are provisional intraday readings reported by the press. Selling slowed around midday, then accelerated again.

KOSPI NET BUYERSRetail · institutions · other corporations

KOSPI NET SELLERSForeign investors

Net buying by stock · Foreign / institutional / retail · KOSPI · KRW 100mn
Stock	Foreign	Institutions	Retail
SK hynix	-15,436	+2,886	+9,118
Samsung Electronics	-11,687	+32	+12,257
Samsung Electro-Mechanics	-3,563	-1,919	+5,378
Celltrion	+38	+2,231	-2,326
NAVER	+711	+541	-1,235

Foreign net buyers No. 2 and No. 3 were Daeduck Electronics +KRW 46.6bn and SK Innovation +KRW 38.5bnDaeduck Electronics ranked second among institutional net sales at -KRW 95.2bn. The denominator for the 79% concentration measure is the sum of foreign net flows by individual KOSPI constituent: -KRW 3.4219tn

Detailed flows

Net buying by investor type · KRW 100mn
Investor type	KOSPI	KOSDAQ	Both markets
Foreign investors	-33,930	-730	-34,660
Institutions	+8,460	-1,030	+7,430
Retail investors	+22,720	+1,720	+24,440
Other corporations	+2,750

On the KOSDAQ, institutional net flow was -KRW 103bn and foreign net flow was -KRW 73bn, while retail net flow was +KRW 172bn

Program trading · Nov. 5 vs. Nov. 4 · KRW 100mn
Category	Nov. 5	Nov. 4
ArbitrageProgram	+2,565	-134
Non-arbitrageProgram	-19,547	-15,825
TotalProgram	-16,982	-15,959

FuturesIn KOSPI 200 futures, foreign net buying totaled +KRW 1.457tn and institutional net selling totaled -KRW 1.532tn. Foreigners sold cash equities but bought futures. Some of this may have been short covering, so it cannot automatically be read as a bullish bet. Cumulative foreign futures flow over the five sessions from Oct. 30: +KRW 2.461tn

Short sellingKOSPI short-sale value: KRW 1.3868tn (Nov. 4: KRW 1.9584tn); Samsung Electronics KRW 133.8bn, Samsung Electro-Mechanics KRW 128.3bn, SK hynix KRW 91.6bn. Short sales accounted for 10.6% of SK Square's traded value.

+KRW 275bn. This figure is not the actual executed amount of share buybacks.

SK hynixToday was the scheduled cancellation date for 23,693,272 treasury shares. Repurchases were completed in October; this was not new buying today. SK hynix was also foreigners' most heavily sold stock.

FXUSD/KRW was 1,342.1 at 3:30 p.m., up KRW 0.6 from the previous session. Despite more than KRW 3tn in foreign net stock sales, the exchange rate barely moved.

Five-session cumulative flowsOct. 30–Nov. 5 on the KOSPI: foreign investors -KRW 9.405tn; retail investors +KRW 4.353tn; institutions +KRW 3.321tn

SECTOR / 04

Where stocks held up—and where they did not

The distribution of gains and losses matters more than a leaderboard

THE SHORT VERSIONDecliners accounted for 58.5% of KOSPI names and 73.7% of KOSDAQ names. Two megacaps drove much of the index decline, but the selling was broad.The 10 largest companies by market cap contributed approximately -4.69%p to the index move; Samsung Electronics and SK hynix alone accounted for about -4.11%p, or roughly 78% of the KOSPI decline. Estimates based on market capitalization.Weakness centered on chips, AI server components and power equipment. Among the leaders were Kakao and SK Biopharmaceuticals after third-quarter earnings, along with beneficiaries of lower oil prices.

STRONG

Hankook Tire & TechnologyStock+12.98%

SK BiopharmaceuticalsStock+12.27%

KakaoStock+10.65%

KRX Gaming Top 10KRX thematic index+5.30%

PharmaceuticalsKOSPI sector+4.12%

WEAK

Daeduck ElectronicsStock-19.80%

DoosanStock-17.45%

Samsung Electro-MechanicsStock-15.34%

KRX AI Power InfrastructureKRX thematic index-9.79%

Electrical & electronicsKOSPI sector-8.53%

KOSPIThe share of advancers fell from 62.3% to 38.1%; 537 stocks declined (58.5%).

KOSDAQThe share of advancers fell from 55.0% to 22.0%; 1,292 stocks declined (73.7%).

Three sessionsFrom the Nov. 2 close of 5,859.08, the KOSPI lost -8.11% over three sessions during election week. All 35.01 points recovered on Nov. 4 were given back today, with the index ending even below the Nov. 3 close.

Estimated shares of the index decline, based on changes in market capitalization: Samsung Electronics and SK hynix, the other eight largest stocks, and all remaining stocks.

SemiconductorsAll 20 members of the KRX AI Semiconductor Index and all 15 in the Semiconductor Top 15 Index declined. Samsung Electronics briefly fell to KRW 199,800, below KRW 200,000; SK Square -10.01%; on the KOSDAQ, Simmtech -17.97%, EO Technics -16.21% and Wonik IPS -15.74%

AI server componentsAI server substrate makers fell more sharply than the chip megacaps. Daeduck Electronics, Doosan and Samsung Electro-Mechanics were among the steepest losers. Isu Petasys -13.54%

Power equipmentAll 15 members of the KRX AI Power Infrastructure Index fell. LS ELECTRIC -13.87%; Hyosung Heavy Industries -12.59%; HD Hyundai Electric -8.44%—tracking the direction of U.S. data-center infrastructure stocks.

EarningsNear the open, Kakao announced third-quarter operating profit of KRW 240.3bn (year on year +7%) and a KRW 150bn share buyback with full cancellation. Repurchases begin Nov. 6. SK Biopharmaceuticals reported record quarterly results in the morning: Q3 revenue KRW 258.4bn and operating profit KRW 116.3bn (+65.9%).

Biotech and internetThe KRX Biotech Top 10 Index +4.64%; nine of its 10 constituents rose. Celltrion +7.50% · NAVER +8.26%. All 10 members of the Gaming Top 10 Index advanced, echoing the U.S. split between weak chips and stronger big tech.

Sector evidence

Estimated KOSPI index contribution · Market-cap basis
Stock	Change	Contribution
Celltrion	+7.50%	+0.07%p
Hyundai Motor	+3.53%	+0.04%p
KB Financial Group	+3.63%	+0.04%p
Samsung Biologics	+1.67%	+0.02%p
LG Energy Solution	-2.54%	-0.04%p
Samsung Electronics (preferred)	-6.58%	-0.19%p
SK Square	-10.01%	-0.25%p
Samsung Electro-Mechanics	-15.34%	-0.27%p
SK hynix	-9.46%	-2.06%p
Samsung Electronics	-7.57%	-2.06%p
Top 10 total		-4.69%p
Outside the top 10		-0.59%p

Contributions are rounded by stock, so displayed figures may differ from the total by 0.01 percentage point.

Advancers and decliners · Includes limit-up and limit-down stocks
Market	Up	Down	Unchanged	Advancers (%)
KOSPI	350	537	31	38.1%
KOSDAQ	386	1,292	74	22.0%

Nov. 4 vs. Nov. 5 · Closing returns; three-session change versus Nov. 2 close
Index / stock	Nov. 4	Nov. 5	Three sessions
KOSPIIndex	+0.62%	-5.28%	-8.11%
KOSDAQIndex	+1.50%	-5.11%	-7.62%
KRX AI SemiconductorKRX thematic index	+0.69%	-12.15%	-17.68%
KRX Secondary Battery Top 10KRX thematic index	+6.89%	-3.87%	-3.68%
SK hynixStock	-0.14%	-9.46%	-14.13%
Samsung ElectronicsStock	-0.68%	-7.57%	-12.01%

FinancialsWoori Financial Group +5.27%; Hana Financial Group +3.16%; Shinhan Financial Group +2.78%; KOSPI 200 Financial High Dividend Top 10 +2.52%

KOSDAQAlteogen +3.68%; EcoPro BM -7.72%; EcoPro -7.54%; Jusung Engineering -12.21% · HLB -3.28%

RefiningS-Oil -6.15%; SK Innovation -7.68%, moving in the same direction as the oil-price drop.

ElsewhereKorea Zinc +11.00%; HYBE +8.19%; SM Entertainment on the KOSDAQ +11.72%

Sectors · 20 categories present on both markets · Ordered by KOSPI performance
Sector	KOSPI	KOSDAQ
Entertainment & culture	+4.71%	+4.59%
IT services	+4.50%	-1.67%
Pharmaceuticals	+4.12%	+0.52%
Telecommunications	+2.44%	+1.06%
Food, beverages & tobacco	+2.40%	-0.27%
General services	+1.49%	+1.20%
Non-metallic minerals	+1.12%	-9.52%
Textiles & apparel	+1.00%	-0.31%
Paper & wood	+0.68%	-2.62%
Metals	+0.30%	-5.30%
Transportation equipment & components	-0.72%	-3.82%
Transportation & warehousing	-0.91%	-1.31%
Chemicals	-1.05%	-5.31%
Financials	-1.62%	-4.93%
Construction	-2.63%	-0.60%
Distribution	-3.42%	-4.51%
Machinery & equipment	-5.36%	-10.69%
Manufacturing	-6.67%	-6.92%
Electrical & electronics	-8.53%	-9.45%
Medical & precision equipment	-11.48%	-2.46%

Market-specific sectorsKOSPI medical & precision equipment -11.48%(six of eight stocks fell); insurance -2.53%; securities -0.80%; KOSDAQ non-metallic minerals -9.52%; KOSDAQ machinery & equipment -10.69%

Thematic indices · Korea Exchange · Ordered by Nov. 5 performance
Theme	Nov. 4	Nov. 5
Gaming Top 10	+4.95%	+5.30%
Biotech Licensing	-0.14%	+5.08%
Biotech Top 10	+0.75%	+4.64%
K-AI KOSDAQ Biotech	-0.84%	+2.82%
Financial High Dividend Top 10	+0.32%	+2.52%
High Dividend 20	+0.68%	+2.50%
Internet Top 10	+2.34%	+0.90%
EV Top 15	+5.10%	-1.58%
Korea Sovereign AI	+1.90%	-2.10%
KOSPI Preferred Shares	+0.81%	-3.62%
Secondary Battery Top 10	+6.89%	-3.87%
Climate Solutions	+5.62%	-3.97%
Shipbuilding Top 10	-0.72%	-4.34%
Blue Chip 25	+0.13%	-5.62%
K-AI Secondary Battery	+9.15%	-5.85%
K-AI Defense Top 5+	+2.07%	-9.30%
AI Power Infrastructure	+5.24%	-9.79%
Semiconductor Top 15	+1.17%	-10.47%
K-AI Semiconductor Top 2+	+0.72%	-10.99%
AI Semiconductor	+0.69%	-12.15%

KOSPI top 10 by market cap · Closing prices in KRW
Stock	Close	Change
Samsung Electronics	201,500	-7.57%
SK hynix	1,264,000	-9.46%
Samsung Electronics (preferred)	160,400	-6.58%
SK Square	809,000	-10.01%
LG Energy Solution	346,000	-2.54%
Samsung Electro-Mechanics	944,000	-15.34%
Samsung Biologics	1,520,000	+1.67%
Hyundai Motor	293,500	+3.53%
KB Financial Group	157,000	+3.63%
Celltrion	215,000	+7.50%

Limit-up stocksKOSPI: 6; KOSDAQ: 6. No limit-down stocks in either market.

CHANGE / 05

Yesterday's questions, today's answers

Checking the conditions set after the previous session

YESTERDAY → TODAY

None of the three tests cleared even the first hurdle. The Nov. 4 positive close did not signal stability.Foreign selling did not ease; it intensified. Net foreign selling of SK hynix rose from -KRW 1.1632tn to -KRW 1.5436tnThe U.S. chip index—one of the items to watch on the evening of Nov. 4—gave up all its Nov. 3 gains. Qualcomm and Arm also fell after hours following earnings.The KOSPI was already below the Oct. 30 low of 5,599.42 at the open. It broke the Nov. 4 low of 5,421.72 at 10:16 a.m.

SK hynix closing priceFirst test: KRW 1,396,000 or higher; second: foreign net buying turns positive. First test failed.

1,396,000

→

1,264,000

Secondary Battery Top 10 closeFirst test: 3,387.88 or higher; second: at least seven constituents advance. First test failed.

3,387.88

→

3,256.88

Foreign KOSPI cash flowsFirst test: net selling below KRW 1tn; second: a return to net buying. First test failed.

-25,070

→

-33,930

01 · One-day move -9.46% · MONEY 0302 · -3.87%, with all 10 constituents down; about 60% of the 218.52-point advance on Nov. 4 erased in one session.03 · Unit: KRW 100mn

NEXT / 06

What to watch next

Three tests for tonight's U.S. session and Friday, Nov. 6 in Korea. The first threshold is an early signal; the second demands further confirmation.

Will U.S. chip selling stop?

Nov. 4 (U.S. session)PHLX Semiconductor Index 10,268.65 (-3.13%); Micron -7.00%

FIRST TESTNov. 5 U.S. close at or above 10,268.65 for the semiconductor index

SECOND TESTFirst test met, with Micron also closing higher

Will Korea's chip megacaps stop falling?

TodaySK hynix KRW 1,264,000; Samsung Electronics KRW 201,500, after trading below KRW 200,000 intraday

FIRST TESTBoth stocks close at or above today's prices on Nov. 6

SECOND TESTFirst test met, with foreign flows into SK hynix turning net positive

Will foreign cash selling ease?

TodayKOSPI cash equities: -KRW 3.393tn; third straight session above KRW 1tn, with selling growing each day

FIRST TESTNov. 6 net foreign selling smaller than today's

SECOND TESTNov. 6 net foreign selling below KRW 1tn

Later dates

Nov. 16 · Samsung E&A scheduled to report final Q3 resultsNov. 17 (U.S.) · Nvidia Q3 earnings (morning of Nov. 18 KST)Nov. 20 · Hyundai Rotem share buyback period endsNov. 26 · Bank of Korea Monetary Policy Board decisionNov. 27 · Samsung Electronics Q3 dividend paymentNov. 30 · SK hynix Q3 dividend record dateDec. 8–9 (U.S.) · Federal Reserve meetingJan. 3, 2027 · New U.S. Congress convenesLate Jan. 2027 · Samsung Electronics board to decide on remaining shareholder returnsApr. 9, 2027 · Target date for U.S. FDA review of HLB's liver-cancer drug

U.S. benchmarks gained, but AI chipmakers fell. Korea's semiconductor-heavy KOSPI followed the chips and shed 300 points. Samsung Electronics and SK hynix accounted for about 78% of the index loss, yet almost six in ten KOSPI stocks declined. The next test: whether U.S. chip selling and foreign selling in Korea finally abate.

Sources & data methodology

As of Nov. 5, 2026. Index, sector and stock closing prices refer to the Korea Exchange regular session 09:00~15:30; Korean market analysis and foreign-news coverage include information publicly available through the 5:30 p.m. KST cutoff. Index levels: KOSPI open 5,580.09, high 5,586.46, low 5,336.88; KOSDAQ open 713.49, high 717.06, low 673.38. Final regular-session figures, independently collected. Intraday chart: Five-minute sampled path derived from KOSPI one-minute candles downloaded from Toss Securities. Key timestamps—including highs and lows, breaks of price levels and rebound peaks—use the original one-minute values. All times are KST. Stock closing prices: Top 10 by market cap use independently collected regular-session closes. Other stocks are calculated using Toss Securities' KRX 3:30 p.m. closing-auction executions and previous closes (excluding Nextrade and after-hours trading). Samsung Electronics' intraday low uses regular-session one-minute candles. Trading curbs: KOSPI at 10:16:19 a.m. Hyundai Economic Daily; KOSDAQ at 2:27:31 p.m. NewsPim Investor flows: Independently collected KRX regular-session data (by investor type at 3:38 p.m.; futures at 3:49 p.m.). Other-corporation flows are calculated as the balancing item that makes all investor-category flows sum to zero. After-market trades excluded. Investor-category amounts are aggregated in KRW 1bn units. Provisional intraday foreign flows: 10:20 a.m. Digital Daily; 12:53 p.m. Aju Business Daily; USD/KRW at 3:30 p.m. ChosunBiz (English) Stock-level flows: Independently collected KRX regular-session net trading by investor type, KOSPI constituents only. The 79% two-stock share uses total foreign net flows summed by KOSPI constituent (-KRW 3.4219tn) as the denominator, rather than the aggregate by investor type (-KRW 3.393tn). The two measures use different aggregation bases. Program trades, trading value and short sales: Regular-session close for program trades; program and investor-type flows use different classifications and must not be added. Trading value as of the KRX 3:38 p.m. snapshot. Short sales combine KRX regular-session and Nextrade main-market transactions. Market breadth: Final KRX counts of advancing and declining stocks. Advancers include regular gainers and limit-up stocks (KOSPI 350/918; KOSDAQ 386/1,752). Sectors and index contribution: KRX sector and thematic indices, including constituent counts and advances/declines. Index contribution is an in-house estimate from changes in constituent market cap divided by Nov. 4 KOSPI market capitalization (estimated at about KRW 4,691tn); it may differ from official point contributions. The 78% two-stock share is their combined estimated contribution divided by the index return. U.S.: Benchmarks, Nvidia, Micron, Marvell, Sandisk, megacap tech, oil and yields INDmoney; background on the Dow's rally Motley Fool; intraday declines in data-center infrastructure, Texas capacity share and the governor-elect's pledge Stock Titan; Rep. Ansari's post and Micron overnight trading Stocktwits; Texas share of planned capacity is a Wells Fargo estimate (cited by Unite.AI CNBC). The results of 41 local ballot measures and the number of advisory votes: Ballotpedia(Nov. 4 local-time tally, unofficial election results). Earnings: Qualcomm handset-chip revenue and after-hours trading The Elec; Kakao Q3 earnings DealSite; share buyback and cancellation The Asia Business Daily; SK Biopharmaceuticals Q3 results Yonhap News Agency; Arm after-hours trading Grafa Defense: Korean and U.S. defense stock closes, concerns about defense-budget oversight, and commentary on limited earnings impact Korea Economic Daily; background on Korean declines MTN Broker commentary: Expectations of an earlier end to the Iran war and warnings of retaliation against Gulf states, per Lee Kyung-min of Daishin Securities (Aju Business Daily); potential pressure from data-center construction delays on chip materials, components, equipment and robotics, per Shinhan Securities (NewsPim); no nationwide ban and decisions remain with states and localities, per Morgan Stanley (quoted by INDmoney). Calendar: U.S. earnings dates Stock Titan; Nvidia earnings date Nvidia Investor Relations; employment report U.S. Bureau of Labor Statistics; other dates cited in the Nov. 2 and Nov. 4 editions.