Support fades, selling broadens · oil-painting style stone colonnade with the braces removed and stacked on the grass, cracks spreading from the center pillar to adjacent pillars · foreign and institutional selling ahead of Samsung Electronics earnings · KOSPI 6,803.90 -1.98% · KOSDAQ 898.43 -2.34%
2026.10.07
Snowshagal Daily

Support fades,
selling broadens

KOSPI 6,803.90 -1.98%
KOSDAQ 898.43 -2.34%
TODAY IN ONE LINE Foreign and institutional selling before Samsung earnings
snowshagal.com
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SNOWSHAGAL · DAILY
MARKET RESEARCH
2026.10.07 · WED
KRX CLOSE 15:30
DAILY MARKET NOTE / 07 OCT 2026

Ahead of earnings,
the KOSPI slid into the close

KOSPI -1.98% at 6,803.90 · after recovering above the previous close by 09:45, it finished essentially at the session low · KOSDAQ -2.34% and back below 900Ahead of Samsung Electronics earnings, ETF rebalancing and options expiry on Oct. 8, buyback support weakened while foreign and institutional selling expandedForeign KOSPI cash equities -KRW 2.598tn for an eighth straight session of net selling · share of advancers: KOSPI 36.5% · KOSDAQ 34.3%LG Electronics -10.54% · Q3 operating profit came in about 24% below consensus

Buyback support faded while foreign selling grew.
MARKET PATH / 01

09:45 was the high; the close was the low

Where the direction changed, and where the decline stopped

IN PLAIN ENGLISH The market opened lower, recovered above the previous close around 09:45, then never regained that line · it stair-stepped lower through the morning and afternoon and finished at the lowest level of the day

KOSPI · 09:00~15:306,864.25 open → 09:45 high 6,977.77 → around 6,850 at 11:25 → 6,865–6,890 from 12:00 to 13:30 → around 6,835 at 14:15 → another slide after 15:00 → close 6,803.90
6,941.39 09:00 12:00 15:30
OPEN6,864.25-1.11%
LOW6,803.81-1.98%
HIGH6,977.77+0.52%
CLOSE6,803.90-1.98%
THE READ

The opening rebound briefly cleared the previous close, but stopped there · after the session high, the index never regained that lineThe first selloff after the high already pushed the index toward 6,850 · later rebounds failed to recover the preceding highsThe closing auction failed to reverse the losses, leaving the index near the session lowThe KOSDAQ also closed just above its 898.25 low · this was not a decline confined to one pocket of large caps

OPEN · MORNING

-1.11% Opened lower; session high at 09:45

Opened at 6,864.25, 77.14 points below the previous closeRecovered to the previous close in the 09:20s · session high 6,977.77 at 09:45Around 6,930 at 10:00 · around 6,910 from 10:15 to 10:30 · around 6,880 in the 10:50s · around 6,850 from 11:00 to 11:25

MIDDAY · AFTERNOON

Rebounded toward 6,890 near lunch; fell again in the afternoon

Recovered toward 6,890 between 11:30 and 11:55Traded between roughly 6,865 and 6,890 from noon to 13:30Slid toward 6,835 between 13:35 and 14:15 · around 6,850 at 14:30 · back near 6,835 at 14:45

CLOSE

Another leg lower after 15:00; closed near the session low

Around 6,850 at 14:55 · down to roughly 6,807 between 15:00 and 15:15 at 6,803.90 · just 0.09 points above the session low of 6,803.81KOSPI turnover KRW 19.6994tn · 1.12× the average of the previous five sessions

The line traces the KOSPI’s 5-minute intraday chart · horizontal position reflects actual time · only four values are exact: open, high, low and close · the high came around 09:45 · the low came just before the close · the dotted line marks the previous close of 6,941.39.
WHY / 02

Selling erased the rebound as support faded

Why the market fell today

IN PLAIN ENGLISH Weakness in U.S. memory stocks drove a lower open, but the KOSPI recovered above the previous close in the morning · foreign and institutional selling then expanded and erased the rebound · Samsung Electronics’ supporting buyback had ended, while SK hynix had reduced its daily purchases · oil and U.S. yields also moved back up during Korean trading hours

01

Why the market opened lower · memory lagged even as U.S. indices hit records

Oct. 6 U.S. time · Nasdaq and S&P 500 closed at record highs · Marvell +5.81% · Broadcom +3.67% —some AI semiconductor names were strongMemory moved the other way · Micron -1.73% for a third straight decline · SanDisk -2.56% · SK hynix -6.39% · reports attributed the ADR decline to a stronger won reducing translated overseas earnings and to the burden of bonus provisionsKOSPI -1.11% at the open · Samsung Electronics rose as much as the 2% range early in the session, while SK hynix nearly erased its decline · the overnight negatives were reflected in the opening price, but did not determine the day’s direction (interpretation)

-6.39%SK hynix ADR · Oct. 6 U.S. time
SHOW EVIDENCE
Oct. 6 U.S. time · Nasdaq +0.45% (27,599.79) · S&P500 +0.58% (7,818.93) · Philadelphia Semiconductor +0.34% · AMD +2.80% · Intel -3.18% · Roundhill Memory ETF -3.49%
Micron · Oct. 2 U.S. time -2.05% · Oct. 5 -1.02% · Oct. 6 -1.73% ($1,045.56) · SK hynix ADR Oct. 6 close $182.56
02

The direct force that erased the rebound · heavier foreign and institutional selling

Foreign KOSPI net selling widened from roughly KRW 880bn at 10:40 to KRW 2.598tn by the close · the expansion ran in the same direction as the decline after the 09:45 high · roughly KRW 1.71tn of additional net selling came after 10:40 aloneInstitutions also sold a net KRW 668bn · in the KOSPI electrical & electronics sector, which includes Samsung Electronics and SK hynix, foreigners sold roughly KRW 2.09tn and institutions about KRW 610bnThe buying that had been providing support weakened · Samsung Electronics completed its KRW 15tn buyback on Oct. 6 · SK hynix had executed about 80% of its planned volume and, since Oct. 2, reduced daily purchases from 600,000–650,000 shares to 400,000–500,000Buying by —the category in which buybacks are recorded—was about KRW 709bn net on the KOSPI, according to a closing reportThe backdrop was caution ahead of Samsung Electronics’ Q3 earnings on Oct. 8, the of seven semiconductor ETFs, and October · Goldman Sachs flagged Oct. 8 flows without buyback support as a potential source of volatility

-KRW 1.71tnAdditional foreign net selling after 10:40 · approximate
SHOW EVIDENCE
Calculation · closing foreign net selling (KRX 15:38 tally) minus KRW 883.8bn at 10:40 (intraday report) = roughly KRW 1.7142tn · because the intraday number comes from a news report, amounts below KRW 10bn are ignored
At 10:40 · foreign -KRW 883.8bn · retail +KRW 798.4bn · institutions -KRW 122.6bn (intraday report)
The “other corporations” category includes share buybacks, but not all buying by other corporations is a buyback
Oct. 8 · seven semiconductor ETFs with about KRW 19tn in assets were due to rebalance · because Samsung Electronics was near its weight cap in several ETFs, mechanical selling was seen as possible · Goldman Sachs also noted that if rebalance flows shift toward SK hynix, the stock could receive mechanical buying
Goldman Sachs Samsung Electronics Q3 operating-profit forecast: KRW 112tn → KRW 106tn · market consensus KRW 105.5tn (August peak roughly KRW 114tn)
Closing reports described the decline as follows · “Large-cap semiconductors weakened as investors turned cautious one day before Samsung Electronics’ preliminary earnings” (NewsPim) · “Losses widened as wait-and-see sentiment ahead of Samsung Electronics’ preliminary earnings also entered the market” (Daishin Securities)
03

The rebound backdrop also deteriorated · yields and oil moved back up intraday

Daishin Securities cited rising oil prices and U.S. Treasury yields first among the reasons for the day’s weaknessThe U.S. 10-year yield fell to 5.269% on Oct. 6 U.S. time, but reports said it moved back above 5.3% during Asian hours while Korea was trading · WTI above $90/bbl · Brent above $101/bblOn Oct. 6 local time, Iran-aligned Houthi rebels claimed attacks on King Khalid International Airport in Riyadh and an Aramco refinery facility in Rabigh on the Red Sea coast, among other targets

5.3%U.S. 10-year · rebound level during Korean trading hours (reported)
MONEY / 03

Selling was heaviest in SK hynix, then spread to other large caps

Who moved the index today

IN PLAIN ENGLISH Foreign investors sold nearly KRW 2.6tn of KOSPI stocks while retail investors bought more than KRW 2.5tn · SK hynix was the largest foreign net sell · selling in Samsung Electronics fell sharply, while foreign selling broadened into large-cap power equipment, electronics and defense names

FOREIGN · KOSPI CASH · KRX 15:38 TALLY
-KRW 2.598tn

included in the foreign total · eighth straight session of net selling since Sep. 23 · widened from -KRW 1.751tn in the previous sessionRetail investors +KRW 2.557tn—almost the same size as foreign net selling · institutions -KRW 668.0bnStock-level foreign flows · SK hynix -KRW 1.3634tn · Hyosung Heavy Industries -KRW 222.6bn · LG Electronics -KRW 133.2bn · SK Square -KRW 90.7bn · Hanwha Aerospace -KRW 86.8bn in order · Samsung Electronics fell to -KRW 24.0bn while Samsung Electronics preferred was a net buy at +KRW 82.5bn net buyingTop two institutional net sells · Samsung Electronics -KRW 203.5bn · SK hynix -KRW 176.4bnFlows pointed in the same direction · foreigners net sold index futures for a second day · program selling widened to the KRW 1.9tn range · these are separate datasets and are not added together

KOSPI NET BUYERSRetail · other corporations
KOSPI NET SELLERSForeign investors · institutions
FLOW DETAILS
Three investor groups · foreign -KRW 2.598tn · retail +KRW 2.557tn · institutions -KRW 668.0bn · KRX 15:38 tally (KRW 1bn units) · foreign total includes “other foreign investors” · closing reports: foreign -KRW 2.5976tn · retail +KRW 2.557tn · institutions -KRW 668.4bn
Stock-level flows · investor net buying by stock at the KRX regular-session close, from reports citing Yonhap Infomax data · rounded to KRW 100m units
Concentration · combined foreign net selling in the two stocks was KRW 1.3874tn, about 53% of total foreign KOSPI net selling · in the previous session the two-stock total was KRW 1.9733tn, larger than the KOSPI-wide KRW 1.751tn · denominator is total foreign KOSPI net selling including “other foreign investors”
KOSDAQ · foreign -KRW 261.0bn · institutions -KRW 216.0bn · retail +KRW 503.0bn · foreign investors and institutions both flipped from net buying in the previous session to net selling (KRX 15:38 tally)
Other corporations +KRW 709.0bn · based on a 16:19 closing report · that report’s foreign -KRW 2.6087tn is not mixed with the three figures above because the collection time differs
Total program trading-KRW 1.8793tn
Program non-arbitrage-KRW 1.9003tn
KOSPI 200 futures · foreign-KRW 292.0bn
KOSPI 200 futures · institutions+KRW 185.0bn
Program arbitrage +KRW 20.9bn · non-arbitrage: -KRW 465.4bn → -KRW 211.2bn → -KRW 1.2586tn → -KRW 1.9003tn · seventh straight session of net selling · KOSPI 200 futures retail +KRW 43.0bn · futures based on KRX 15:49 tally (KRW 1bn units)
Five-session total (Sep. 30–Oct. 7) · KOSPI foreign -KRW 7.093tn · institutions -KRW 722.0bn · retail +KRW 1.313tn · KOSPI 200 futures foreign -KRW 1.103tn (KRX tally · KRW 1bn units)
Versus previous session · institutions -KRW 2.0bn → -KRW 668.0bn · retail +KRW 741.0bn → +KRW 2.557tn · KOSDAQ foreign +KRW 109.0bn → -KRW 261.0bn · all from KRX 15:38 tally (KRW 1bn units)
Short-selling turnover · No. 1 SK hynix KRW 253.8bn · No. 2 Samsung Electronics KRW 192.6bn · both down from KRW 377.9bn and KRW 216.0bn in the previous session · No. 3 LG Electronics KRW 65.2bn · No. 4 Hyosung Heavy Industries KRW 57.0bn
SECTOR / 04

Where the market was strong · where it was weak

Today’s distribution of strength mattered more than a league table

IN PLAIN ENGLISH Only pockets of medical devices, entertainment and gaming rose, while semiconductors, defense, shipbuilding, metals and autos were sharply weaker · semiconductor equipment and secondary batteries, which had led the KOSDAQ higher the previous day, also gave back ground · fewer than four in ten KOSPI stocks advanced

Weakness spread beyond the two semiconductor heavyweights.KRX Semiconductor Top 15 -3.65% with all 15 constituents down · a reversal from the previous session’s +0.55% (11 advancers) · SK hynix -2.82% · Samsung Electronics -1.29%—a larger declineOn the KOSDAQ, semiconductor equipment and secondary batteries reversed part of the previous day’s gains · KOSDAQ Machinery & Equipment -4.87% (139 of 178 constituents down) · KRX K-AI Secondary Battery -2.70% (previous session +7.48%) · Shinhan Securities said selling emerged in large-cap semiconductor materials/components/equipment and secondary-battery namesDefense, shipbuilding and autos were also weak · KRX K-AI Defense TOP5+ -5.37% · Shipbuilding TOP10 -3.84% · all 10 constituents fell in both indices · KOSPI Metals -4.14% (51 of 60 constituents down) · Transportation Equipment & Components -3.54% · Hyundai Motor -3.45%KOSPI Electrical & Electronics -2.35% (67 of 80 constituents down) · Samsung Electro-Mechanics -4.24% · LG Electronics -10.54%The upside was narrow · KOSPI Medical & Precision Equipment +5.86% had only 3 of 8 constituents up · Entertainment & Culture +3.95% (8 of 13 constituents up) · KRX Game TOP 10 +1.71% (7 of 10 constituents up) · Shinhan Securities cited into KOSPI cosmetics and KOSDAQ entertainment & beauty -2.03% versus KOSPI -1.98%—a similar decline · unlike the previous session, when the top end fell harder, today’s weakness was broad across the marketShare of advancers: KOSPI 36.5% · KOSDAQ 34.3% · both lower than 46.3% and 58.4% in the previous session

STRONG

Medical & Precision Equipment KOSPI sector+5.86%
Entertainment & Culture KOSPI sector+3.95%
Game TOP 10 KRX theme index+1.71%
Food, Beverage & Tobacco KOSPI sector+1.13%

WEAK

K-AI Defense TOP5+KRX theme index-5.37%
Machinery & Equipment KOSDAQ sector-4.87%
Metals KOSPI sector-4.14%
Semiconductor Top 15 KRX theme index-3.65%

Sectors use KOSPI/KOSDAQ industry indices · themes use KRX theme indices · stocks use individual closing returns · methodologies differ, so they are not combined into a single ranking

SECTOR DETAILS
Versus previous session · K-AI Secondary Battery +7.48% → -2.70% · Semiconductor Top 15 +0.55% → -3.65% · K-AI Defense TOP5+ -2.87% → -5.37% · Shipbuilding TOP10 -1.72% → -3.84% · KOSDAQ TOP 10 +7.21% → -4.28%
KOSPI sectors · Medical & Precision Equipment +5.86% · Entertainment & Culture +3.95% · Textiles & Apparel +1.51% · Food, Beverage & Tobacco +1.13% · Chemicals +0.42% · Securities -2.15% · Manufacturing -2.26% · Electrical & Electronics -2.35% · Machinery & Equipment -2.50% · Transportation Equipment & Components -3.54% · Metals -4.14%
KOSDAQ sectors · Entertainment & Culture +1.66% · Pharmaceuticals +0.33% · Electrical & Electronics -2.74% · Financials -3.03% · Transportation Equipment & Components -3.16% · Machinery & Equipment -4.87%
Themes · KRX AI Semiconductor -2.09% · KRX Internet TOP 10 -3.02% · KRX-Akros AI Power Infrastructure -3.22% · KOSDAQ 150 Governance -4.04%
Top 10 by market cap · Samsung Electronics -1.29% (KRW 268,500) · SK hynix -2.82% (KRW 1,723,000) · Samsung Electronics preferred -0.10% · SK Square -1.64% · Samsung Electro-Mechanics -4.24% · LG Energy Solution +0.26% · Hyundai Motor -3.45% · KB Financial +0.96% · Samsung Biologics -2.52% · Samsung Life -1.40%
Advancers/decliners · KOSPI limit-up 3 · up 333 · unchanged 57 · down 527 · limit-down 0 · KOSDAQ limit-up 3 · up 596 · unchanged 85 · down 1,060 · limit-down 0
Share of advancers · KOSPI 36.5% (336/920) · KOSDAQ 34.3% (599/1,744) · numerator = advancers + limit-up stocks; denominator = limit-up + up + unchanged + down + limit-down
KOSDAQ turnover KRW 7.628tn · 0.95× the average of the previous five sessions
Constituent counts use stocks traded that day · KOSDAQ TOP 10: 9 of 10 down · KRX K-AI Semiconductor TOP2+: all 10 down · KRX Internet TOP 10: all 10 down
Sector returns are market-cap-weighted index changes, not net inflow amounts · a single day’s move is not enough to conclude that money rotated into or out of a sector
CHANGE / 05

Answers to yesterday’s questions

Checking yesterday’s conditions against today’s close

IN PLAIN ENGLISH Foreign selling widened for an eighth straight session, but the amount concentrated in Samsung Electronics and SK hynix fell · the KOSDAQ dropped back below 900 after one day

YESTERDAY → TODAY

Foreign selling did not stop and its overall size increased · the two-stock total fell because selling in Samsung Electronics dropped sharply, while SK hynix selling remained above KRW 1tnThe KOSDAQ’s rise on strength outside semiconductors lasted only one day

01
Foreign KOSPI cash · eighth straight session of net selling
-KRW 1.751tn
→
-KRW 2.598tn
02
Combined foreign net selling · Samsung Electronics + SK hynix
-KRW 1.9733tn
→
-KRW 1.3874tn
03
KOSDAQ · whether the advance continued
919.92
→
898.43
CATALYST / 06

LG Electronics Q3 came in below consensus

The clearest earnings-driven price reaction of the day

IN PLAIN ENGLISH LG Electronics reported Q3 operating profit nearly one-quarter below market expectations · the stock fell more than 10%, giving back all of the previous day’s gain on a major contract announcement

LG Electronics · Q3 preliminary results
-10.54%

Q3 operating profit KRW 781.8bn · consensus roughly KRW 1.04tn

WHAT · The release

On Oct. 7, Q3 were disclosed · revenue KRW 23.827tn · versus the same quarter a year earlier +8.9% · operating profit KRW 781.8bn · on the same basis +13.5%

TERMS · Versus consensus

FnGuide consensus was roughly KRW 24.2tn in revenue and KRW 1.03tn–1.04tn in operating profit · reported figures vary slightly by collection timeOperating profit was about 24% below consensus · revenue was roughly 2% below

IMPACT · Why it missed expectations

Home appliances and vehicle solutions maintained stable profitability, while TV profitability improved · the main reason for the miss was cited as weaker profitability at consolidated subsidiary LG InnotekAnalysts said LG Innotek’s margins deteriorated as products made with raw materials purchased at elevated exchange rates in Q2 were shipped in volume during Q3Operating profit rose year over year but still missed market expectations · the stock reacted more to the expectation gap than to the year-over-year growth (interpretation)

MARKET · Price reaction

Closed at KRW 208,000 · fully reversed the +7.64% gain from Oct. 6, the first trading session after the North American AI data-center cooling contract announcement, and finished below the Oct. 2 close of KRW 216,000

NEXT / 07

What to watch next session

Three checks to score with Oct. 8 earnings and the close
Does Samsung Electronics Q3 operating profit beat consensus?

Market consensus KRW 105.5tn–106.9tn, depending on the report · Goldman Sachs KRW 106tn · score whether preliminary operating profit lands above or below this range

Does foreign selling in KOSPI cash equities ease from today?

Today: -KRW 2.598tn · even with earnings, ETF rebalancing and options expiry on the same day, score whether foreign net selling falls below today’s level using the KRX 15:38 tally

Does semiconductor weakness continue beyond the two largest names?

Today: KRX Semiconductor Top 15 -3.65% · score by the sign of the same index’s return

Foreign selling has reached an eighth session · on Oct. 8, Samsung Electronics earnings, ETF rebalancing and options expiry all land on the same day.

Full index, FX, rates and commodities data are in MARKETThe Daily keeps only the numbers needed to explain today’s session.
MARKET ↗
SOURCES · DATA BASIS
Reference date: Oct. 7, 2026 · index, sector and individual-stock closes use the KRX regular session, 09:00–15:30
Overseas news and indicator information reflect only items released by 20:00 KST on Oct. 7
Domestic flows · KRX regular-session tally as of 15:38 · after-market flows are excluded
Indices · KOSPI open 6,864.25 · high 6,977.77 · low 6,803.81 · close 6,803.90 · KOSDAQ open 917.45 · high 921.73 · low 898.25 · close 898.43 · final regular-session values from internal collection · closing levels match the Dailian closing report
Intraday chart · path read from the KOSPI regular-session 5-minute chart, with horizontal position representing actual time · only the four OHLC values are stated as exact numbers; intermediate levels are shown as ranges
Investor-group totals · KRX tally as of 15:38 · closing-report figures from Dailian (16:01) · foreign and institutional net selling in electrical & electronics from the Yonhap closing report · 10:40 intraday flows from the Korea Economic Daily intraday report · early-session moves in Samsung Electronics and SK hynix from the Yonhap intraday report · other corporations +KRW 709.0bn, buyback progress, and the U.S. 10-year and oil during Asian hours from the GetNews closing report (16:19)
Stock-level flows · foreign net buying by stock from Yonhap · institutional net buying by stock from Yonhap (KRX · Yonhap Infomax regular-session close tally) · the previous session’s combined KRW 1.9733tn for the two stocks uses the same Newsis tally as the prior issue
Futures & program trading · KRX KOSPI 200 futures investor tally as of 15:49 · regular-session program-trading close tally · five-session totals use KRX data
Turnover · KOSPI KRW 19.6994tn · 1.12× the five-session average of KRW 17.5718tn · 15:38 tally
Short selling · stock-level short-selling turnover from the regular session as of 15:38, combining KRX and Nextrade
Market breadth · KRX counts of advancing/declining issues collected at 16:10 · limit-up stocks are counted separately from ordinary advancers
Sectors & themes · KRX industry-index and theme-index closing returns and constituent advance/decline counts · commentary from Shinhan Securities and Daishin Securities from the NewsPim closing report (15:40)
Oct. 8 schedule and Samsung Electronics · ETF rebalancing · options expiry · Goldman Sachs forecast · KRW 105.5tn market consensus from Etoday (13:40) · KRW 106.9tn market consensus from the NewsPim Morning Report (Kiwoom Securities) · completion of Samsung Electronics’ buyback on Oct. 6 and Oct. 8 flow risk flagged by Goldman Sachs from EBN (15:25) · Yonhap
Overseas · Nasdaq, S&P 500, Philadelphia Semiconductor Index and U.S. 10-year yield (CBOE 10-Year Treasury Yield Index) use Oct. 6 U.S.-time closes · Marvell, Broadcom, AMD, Intel, Micron and SanDisk closes from CBC News · SK hynix ADR return from Newsway · explanation for the ADR decline, SanDisk and memory ETF data, and Goldman Sachs’ rebalancing interpretation from Global Economic · Houthi attack claim from Financial News (Oct. 7, 06:36)
LG Electronics · preliminary results from the LG Electronics announcement · market consensus from Bizwatch · NewsPim (citing FnGuide) · segment profitability and reasons for the miss from Financial News (14:42) · close from KRX data
After close · report that Samsung Electronics passed HBM4E qualification from Korea Economic Daily (16:03)
Schedule · FOMC minutes from NewsPim · Hangul Day closure follows the KRX holiday calendar
www.snowshagal.com · Browse previous issues at this site.