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Market wrap · Thursday, October 22, 2026

KOSPI falls 3.5% to 5,533.77 as AI spending doubts hit chips and batteries; Samsung E&A jumps 16.1%

KOSPI−3.5%KOSDAQ−3.6%KOSPI 200−3.7%

KOSPI fell 3.5% to 5,533.77, giving back the prior day's rebound. Sources cite renewed doubts over AI spending, including a Meta cash-crunch report, plus the Bank of Korea holding its rate at 3.0% and Brent back above $110. Semiconductor and battery large caps led: SK hynix fell 5.5%, Samsung Electronics 4.0%, Samsung SDI 7.6%, LG Energy Solution 5.2% and Ecopro BM 9.7%.

The standout gainer was Samsung E&A, up 16.1% after Q3 operating profit rose 183.6% to ₩500.6 billion, nearly double consensus, with a roughly ₩780 billion buyback of which ₩690 billion is to be cancelled. Vina Tech rose 14.8% on data-center supercapacitor supply contracts of about ₩119.5 billion and ₩123 billion, and Koses rose 11.2% as a Bloom Energy supplier.

Why the market moved

Sources cite renewed AI spending doubts including a Meta cash-crunch report, foreign and institutional selling, the Bank of Korea holding at 3.0% and Brent back above $110.12345

Top themes

Construction / Samsung E&A

Q3 profit +184%, ₩780B buyback123

  • Samsung E&A, Q3 profit beat, buyback and cancellation+16.14%
  • Dongbu, Launched Namchuncheon condo sales+6.78%
  • HanmiGlobal, No company news reported+4.24%

Bloom Energy / data-center power

Supercapacitor contracts for data centers1234

  • Vina Tech, ₩119.5B and ₩123B supercapacitor contracts+14.78%
  • Koses, Bloom Energy order, target raised+11.22%

AI & physical AI

AI platform launches and NVIDIA white paper123

The big stories

KOSPI falls 3.5% to 5,533.77 as AI spending doubts return

KOSPI fell 3.52% to 5,533.77 on Oct 22, erasing the prior day's rebound, as foreign and institutional investors sold despite strong US Big Tech earnings and renewed doubts over AI spending, including a Meta cash-crunch report. Semiconductor and secondary-battery large caps led the decline, with medical devices, chemicals and electronics also falling sharply as the Bank of Korea held its base rate at 3.0% and Brent climbed back above $110.12345678910

Directly affected

Next in line

Further out

Samsung E&A Q3 operating profit up 184%; shares jump 16%

Samsung E&A reported preliminary third-quarter operating profit of 500.6 billion won, up 183.6% year on year and nearly double consensus, and raised its 2026 operating profit target to 1.4 trillion won from 800 billion won. It also announced a roughly 780 billion won buyback with 690 billion won to be cancelled, and the stock closed up 16.14% at 55,400 won with foreign and pension buying.1234567

Directly affected

Further out

Vina Tech surges on large data-center supercapacitor contracts

Vina Tech (Binatech) rose about 21% to 24% after disclosing a 119.5 billion won supercapacitor supply contract for data centers with a global EMS company, and a further roughly 123 billion won contract with a Taiwanese power-supply maker. The contracts are equal to about 145% of its prior-year revenue, and related Bloom Energy value-chain stocks such as Koses also strengthened.123456789

Directly affected

Next in line

Further out

Elice plunges 32% on debut, then rebounds on AI sentiment

Elice listed on KOSDAQ on Oct 20 at 61,500 won, 32% below its 90,500 won offer price, then rebounded two straight sessions and hit the upper limit on a later day as AI infrastructure sentiment recovered. Coverage linked the rebound to its mobile modular data-center business and to the AIDC special law scheduled for February 2027.12345678

Directly affected

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The market

KOSPI -3.5% to 5,533.77, KOSDAQ -3.6% to 764.1, KOSPI 200 -3.7% to 858.0. Decliners 2,100, advancers 454, flat 209. Trading value was about ₩21.8 trillion versus an average of about ₩28.4 trillion. Overnight, the Philadelphia Semis fell 6.8%, Nasdaq 2.9% and S&P 500 1.2%; Nikkei 225 fell 2.7%. USD/KRW was 1,325.5 (-0.2%), KTB 3y 3.84, Brent $113.2 (+2.9%). The Bank of Korea held its base rate at 3.0%.

KOSPIDaily closes · shaded: this wrap5,533.77
6,0006,5007,000
Sep 7Sep 21Oct 7Oct 22
KOSDAQDaily closes · shaded: this wrap764.1
800850900
Sep 7Sep 21Oct 7Oct 22

454 stocks rose, 2,100 fell · trading value ₩22T

USD/KRW1,325.5−0.2%
KTB 3y3.84+2bp
UST 10y4.96-17bp
S&P 5007,663.43−1.2%
Nasdaq704.47−2.9%
Philadelphia Semis475.69−6.8%
Nikkei 22562,907.84−2.7%
Brent oil113.24+2.9%
Gold4,037.5−2.5%
Copper38.47−2.7%

Themes investors follow

Chip testing & packaging -4.9%, battery materials -4.8%, EV batteries -4.7%, HBM & AI chips -4.6%, semiconductor equipment -3.9%, foundry & chip design -3.9%. Nuclear -3.3%, aerospace -3.5%, robots -2.3%, shipbuilding -2.1%, defense -1.2%. Casinos were the best theme at +0.6%, AI software +0.3%. Within defense, Victek rose 21.4% and Huneed Technologies 6.3% on supply contract filings. Bigwave Robotics rose 10.6% on a physical AI platform launch.

Popular themes

Best themes

Worst themes

The biggest companies

All the top names fell: Samsung Electronics -4.0%, SK hynix -5.5%, SK Square -3.6%, LG Energy Solution -5.2%, Samsung Electro-Mechanics -2.0%, Samsung Biologics -4.0%, Hyundai Motor -2.6%, Samsung SDI -7.6%. Hanwha Aerospace (-0.4%) and Samsung C&T (-0.5%) fell least. Sources say Samsung and SK hynix completed ₩55 trillion buybacks; no single reason for the day's falls beyond the AI spending doubts was given.

Who was buying and selling

Per market totals, foreign investors bought ₩58.2 billion on KOSPI and sold ₩121.6 billion on KOSDAQ. Foreigners bought Samsung E&A (₩126.9 billion), LIG Defense&Aerospace and SK hynix; they sold Samsung Electronics (₩128.5 billion), Samsung SDI and Ecopro BM. Institutions bought Samsung E&A and Daeduck Electronics and sold SK hynix (₩262.2 billion). Retail bought Samsung Electronics (₩212.5 billion), SK hynix and Samsung SDI, and sold Samsung E&A (₩216.0 billion).

Foreign investors

Net bought

  1. 1Samsung E&A+₩127B+16.1%
  2. 2LIG Defense&Aerospace+₩33B−3.1%
  3. 3SK hynix+₩31B−5.5%
  4. 4Hyundai Motor+₩22B−2.6%
  5. 5S-Oil+₩20B−5.5%
  6. 6HD Hyundai Electric+₩17B−1.8%
  7. 7PSK+₩15B−6.5%
  8. 8LG Energy Solution+₩14B−5.2%
  9. 9HPSP+₩11B−4.9%
  10. 10SK Square+₩11B−3.6%
  11. 11Celltrion+₩11B−1.7%
  12. 12GS Holdings+₩11B−3.2%
  13. 13NAVER+₩11B−1.7%
  14. 14DB HiTek+₩11B−4.7%
  15. 15Tesco+₩10B−9.4%

Net sold

  1. 1Samsung Electronics−₩128B−4.0%
  2. 2Samsung SDI−₩45B−7.6%
  3. 3Ecopro BM−₩31B−9.7%
  4. 4Daeduck Electronics−₩28B−3.4%
  5. 5Samsung Electro-Mechanics−₩26B−2.0%
  6. 6Simmtech−₩22B−5.2%
  7. 7SK−₩20B−4.3%
  8. 8Jusung Engineering−₩20B−8.9%
  9. 9Ecopro−₩19B−7.5%
  10. 10Samsung Electronics Pref.−₩18B−3.0%
  11. 11Taihan Fiberoptics−₩13B−6.8%
  12. 12POSCO Future M−₩11B−7.7%
  13. 13Doosan−₩10B−4.5%
  14. 14HD Construction Equipment−₩10B+0.1%
  15. 15Hanmi Semiconductor−₩10B−5.8%

Institutions

Net bought

  1. 1Samsung E&A+₩89B+16.1%
  2. 2Daeduck Electronics+₩28B−3.4%
  3. 3LG CNS+₩22B+0.8%
  4. 4SK+₩21B−4.3%
  5. 5Samsung SDS+₩13B+2.7%
  6. 6Samsung C&T+₩11B−0.5%
  7. 7Samsung Life Insurance+₩11B−1.4%
  8. 8GnCenergy+₩10B+0.7%
  9. 9Elice Inc.+₩10B+17.2%
  10. 10Samsung Fire & Marine Insurance+₩9.7B+1.2%
  11. 11Koses+₩9.5B+11.2%
  12. 12Simmtech+₩9B−5.2%
  13. 13Stic Investments+₩8.9B+3.3%
  14. 14HD Construction Equipment+₩8.4B+0.1%
  15. 15Neosem+₩8.3B+0.3%

Net sold

  1. 1SK hynix−₩262B−5.5%
  2. 2Samsung Electronics−₩87B−4.0%
  3. 3Samsung SDI−₩60B−7.6%
  4. 4Samsung Electro-Mechanics−₩48B−2.0%
  5. 5S-Oil−₩26B−5.5%
  6. 6Hyundai Motor−₩25B−2.6%
  7. 7Jusung Engineering−₩24B−8.9%
  8. 8LIG Defense&Aerospace−₩21B−3.1%
  9. 9POSCO Holdings−₩20B−5.0%
  10. 10LG Energy Solution−₩15B−5.2%
  11. 11MSBIO. Inc−₩15B+70.8%
  12. 12Ecopro−₩14B−7.5%
  13. 13Tesco−₩14B−9.4%
  14. 14Ecopro BM−₩13B−9.7%
  15. 15HPSP−₩13B−4.9%

Retail investors

Net bought

  1. 1Samsung Electronics+₩212B−4.0%
  2. 2SK hynix+₩199B−5.5%
  3. 3Samsung SDI+₩106B−7.6%
  4. 4Samsung Electro-Mechanics+₩78B−2.0%
  5. 5Ecopro BM+₩44B−9.7%
  6. 6Jusung Engineering+₩43B−8.9%
  7. 7Ecopro+₩32B−7.5%
  8. 8POSCO Holdings+₩27B−5.0%
  9. 9MSBIO. Inc+₩24B+70.8%
  10. 10POSCO Future M+₩21B−7.7%
  11. 11Hanmi Semiconductor+₩17B−5.8%
  12. 12SK Innovation+₩17B−8.2%
  13. 13Taihan Fiberoptics+₩16B−6.8%
  14. 14LG Chem+₩16B−6.9%
  15. 15Doosan+₩16B−4.5%

Net sold

  1. 1Samsung E&A−₩216B+16.1%
  2. 2Samsung SDS−₩20B+2.7%
  3. 3LG CNS−₩19B+0.8%
  4. 4Celltrion−₩17B−1.7%
  5. 5LIG Defense&Aerospace−₩12B−3.1%
  6. 6Koses−₩11B+11.2%
  7. 7Samsung C&T−₩9.6B−0.5%
  8. 8LS Eco Energy−₩9.2B+10.0%
  9. 9Hanwha Systems−₩8.8B−0.5%
  10. 10SK Square−₩8.5B−3.6%
  11. 11Samsung Life Insurance−₩8.1B−1.4%
  12. 12Hanwha Machinery & Service Holdings−₩8B+3.9%
  13. 13Kakao Games−₩7B+7.3%
  14. 14Hanwha Aerospace−₩6.8B−0.4%
  15. 15Gaon Cable−₩6.6B−1.4%

ETFs

Construction ETFs led: TIGER 200 Construction +3.8% and KODEX Construction +3.3%, alongside US 30-year Treasury products (+0.4% to +1.6%). Worst were secondary-battery ETFs (TIGER Secondary Battery Materials -7.4%, RISE Secondary Battery TOP10 -7.0%) and semiconductor ETFs (SOL Semiconductor Front-End Process -7.0%).

Best ETFs

Worst ETFs

Leveraged and inverse ETFs are left out; moves are the daily moves compounded.

How our signals did

Two Squeeze! short setups opened: EuBiologics and W-Scope Chungju Plant; none had reached a target or stop. Technical events: breakouts in Samsung E&A and Victek, a 200-day moving average reclaim in Vina Tech, a breakdown in SK hynix, and 52-week lows in KT and CJ Cheiljedang. Stretched pairs: Hanwha Ocean / Samsung Heavy Industries, SK hynix / Samsung SDS, APR / Amorepacific, KIWOOM / NH Investment. Highest short squeeze scores of 60: Meritz Financial Group, Hanssem, ISU Specialty Chemical.

Squeeze! setups

2 setups confirmed: 0 reached a target, 0 stopped out, 2 still open.

Notable technical signals

23 notable signals: 0 moved the way they pointed so far.

Pair trades

4 pairs stretched: 0 came back together since.

Highest short squeeze scores

Signals describe past prices. Results run from the signal to the latest close; they are not recommendations.

Written by AI from JONBUR's data and checked against those figures. Reasons come only from the linked news, filings and broker reports for that day; when none gives a reason, we say so. Index moves marked est. are our estimate from closing prices until the official index is available. Not financial advice.

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