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Market wrap · Friday, October 23, 2026

KOSPI rises 0.3% after 4% intraday plunge as SK hynix rebounds; KOSDAQ falls 1.6%

KOSPI+0.3%KOSDAQ−1.6%KOSPI 200+0.6%

KOSPI recovered from a plunge of more than 4% to close up 0.3% at 5,550.3. Sources say renewed doubts over AI spending, after a sharp Nasdaq drop and a Meta decline, hit the open. SK hynix then said it was dropping the planned US listing of Solidigm, easing dual-listing concerns, and rose 4.4% after falling more than 5% early. SK Square gained 3.2%. Institutional buying was cited for the rebound.

Beyond chips, Samsung Biologics jumped 7.7% after a court widened a strike ban to all nine production processes, delaying the union's second walkout, and after earnings beat expectations. Hanwha Systems fell 10.3% after saying it would transfer its full Hanwha Ocean stake, about ₩1.38 trillion, and exit shipbuilding. K-defense fell 2.9% on average and shipbuilding 2.4%. Hanwha Aerospace fell 2.3% and Hanwha Ocean 3.3%.

Why the market moved

KOSPI fell over 4% intraday on AI spending doubts, then recovered as SK hynix dropped its Solidigm US IPO plan, easing dual-listing concerns, with institutional buying cited.1234

Top themes

HBM & AI chips

SK hynix scraps Solidigm US IPO plan123

The big stories

KOSPI recovers from 4% intraday plunge to close above 5,500

KOSPI fell more than 4% intraday on renewed doubts over AI investment after Meta's cash crunch, then closed up 0.3% as SK hynix rebounded. KOSDAQ closed down 1.62%, and KB Financial fell 3.29% in the large-cap pack.12345

Directly affected

Next in line

SK hynix scraps Solidigm US IPO plan, shares rebound

SK hynix said it is dropping the planned US listing of its subsidiary Solidigm, easing dual-listing concerns that had weighed on chip stocks. SK hynix closed up 4.42% and SK Square rose 3.20%.1234

Directly affected

Next in line

Further out

Samsung Biologics jumps 7.71% after court curbs strike, record earnings

A court expanded a strike ban to all nine production processes, delaying the union's second walkout, and Samsung Biologics beat Street expectations with record earnings. The stock closed up 7.71%, while Samsung Life Insurance rose 1.45%.12345

Directly affected

Next in line

Hanwha Systems falls 10.28% as defense stocks sell off

Hanwha Systems closed down 10.28% after the company said it would transfer its entire Hanwha Ocean stake, worth about 1.38 trillion won, and exit shipbuilding. Hanwha Aerospace closed down 2.34% in the sector selloff.123

Directly affected

Next in line

iFamilySC hits daily limit after Japanese firm's tender offer

Cosmetics maker iFamilySC closed up 29.93% after Japan's Maruzen announced a tender offer and Marubeni took an interest in the company. The move drew heavy buying across the day.123

Directly affected

The market

KOSPI rose 0.3% to 5,550.3 and KOSPI 200 gained 0.6% to 862.8. KOSDAQ fell 1.6% to 751.7. Decliners (1,967) far outnumbered advancers (577), with 220 flat. Trading value was about ₩23.2 trillion against an average of about ₩28.1 trillion. Overseas, the S&P 500 fell 0.5%, the Nasdaq 100 ETF was flat, the US chips ETF rose 0.5% and the Nikkei 225 fell 0.3%. Brent oil rose 3.1% to $116.7. USD/KRW was 1,324.6, down 0.1%. The KTB 3-year yield was 3.803%, down 3.7bp.

KOSPIDaily closes · shaded: this wrap5,550.3
6,0006,5007,000
Sep 8Sep 22Oct 8Oct 23
KOSDAQDaily closes · shaded: this wrap751.69
800850900
Sep 8Sep 22Oct 8Oct 23

577 stocks rose, 1,967 fell · trading value ₩23T

USD/KRW1,324.6−0.1%
KTB 3y3.8-4bp
UST 10y5+4bp
S&P 5007,622.86−0.5%
Nasdaq 100 (QQQ ETF)0.0%
US chips (SOXX ETF)+0.5%
Nikkei 22562,693.16−0.3%
Brent oil116.72+3.1%
Gold4,007.9−0.7%
Copper (CPER ETF)+1.5%

Themes investors follow

HBM and AI chips was the top theme, up 1.3% on average, led by SK hynix, Atlas Link (+2.9%) and Samsung Electronics (+0.5%). Biosimilars rose 1.3% on Samsung Biologics. Most other themes fell: zinc and non-ferrous metals -3.8%, K-defense -2.9%, hydrogen -2.8%, AI power and transformers -2.8%, battery materials -2.8% (Ecopro -5.8%, L&F -5.8%), self-driving -2.8%, shipbuilding -2.4% and banks -2.5%. Robotics fell 1.5% on average, though NRobotics rose 18.9% with no company news reported. Samsung E&A rose 7.9% on surprise earnings, a ₩780 billion buyback and higher broker targets.

Popular themes

Best themes

  • HBM & AI chips+1.3%SK hynix +4.4% · Atlas Link +2.9% · Samsung Electronics +0.5%
  • Biosimilars+1.3%Samsung Biologics +7.7% · Samsung Epis Holdings +1.2% · Celltrion +0.1%
  • AI healthcare+0.6%Noul +30.0% · Synteka Bio +5.5% · Deepnoid +1.1%
  • REITs−0.1%SK Reit +3.2% · Hanwha Reit +2.4% · Shinhan Seobu T&D REIT +2.3%
  • Contract drug manufacturing (CDMO)−0.4%Samsung Biologics +7.7% · Prestige Biologics +0.2% · ST Pharm +0.1%
  • Sports & leisure−0.5%E-World +2.0% · Samchuly Bicycle +0.8% · Namhwa Industrial 0.0%

Worst themes

The biggest companies

Samsung Electronics rose 0.5% and SK hynix 4.4%. SK Square gained 3.2% and Samsung Biologics 7.7%. Samsung Life Insurance rose 1.5% and Celltrion 0.1%. Decliners: Samsung SDI -4.2%, KB Financial -3.3%, Shinhan Financial -2.4%, Hanwha Aerospace -2.3%, Samsung Electro-Mechanics -2.0%, Hyundai Motor -2.0%, LG Energy Solution -1.8% and KIA -1.8%. Samsung C&T slipped 0.2%.

Who was buying and selling

Foreign investors sold a net ₩977.8 billion on KOSPI and ₩43.7 billion on KOSDAQ. They sold SK hynix (about ₩573.1 billion), Samsung Electronics (₩180.0 billion), Samsung Electro-Mechanics (₩136.4 billion) and SK Square (₩101.5 billion). They bought Samsung E&A (₩175.2 billion), Hanwha Ocean and GS Holdings. Institutions bought SK hynix (₩596.4 billion), Samsung Electronics (₩131.1 billion), SK Square and Samsung Biologics. Retail bought Samsung Electro-Mechanics (₩98.1 billion), Samsung SDI and SK Square, and sold Samsung E&A (₩182.2 billion) and Samsung Biologics (₩50.8 billion).

Foreign investors

Net bought

  1. 1Samsung E&A+₩175B+7.9%
  2. 2Hanwha Ocean+₩21B−3.3%
  3. 3GS Holdings+₩16B−2.8%
  4. 4SK Innovation+₩15B−2.5%
  5. 5LG Innotek+₩15B−4.1%
  6. 6LG Electronics+₩13B−1.8%
  7. 7Leeno Industrial+₩13B−4.1%
  8. 8HPSP+₩12B−1.5%
  9. 9APR+₩11B−2.2%
  10. 10Hyundai-Rotem+₩11B−3.3%
  11. 11PharmaResearch+₩11B−6.1%
  12. 12Hanwha Aerospace+₩10B−2.3%
  13. 13LIG Defense&Aerospace+₩9.6B−1.6%
  14. 14Wonik IPS+₩8.4B−0.9%
  15. 15LG Energy Solution+₩7.7B−1.8%

Net sold

  1. 1SK hynix−₩573B+4.4%
  2. 2Samsung Electronics−₩180B+0.5%
  3. 3Samsung Electro-Mechanics−₩136B−2.0%
  4. 4SK Square−₩101B+3.2%
  5. 5Samsung SDI−₩34B−4.2%
  6. 6KB Financial Group−₩31B−3.3%
  7. 7Samsung SDS−₩23B+3.1%
  8. 8SK−₩21B+0.9%
  9. 9Samsung C&T−₩19B−0.2%
  10. 10Woori Financial Group−₩19B−3.7%
  11. 11Ecopro−₩15B−5.8%
  12. 12Samyang Foods−₩15B−0.1%
  13. 13POSCO Holdings−₩13B−3.7%
  14. 14S-1−₩12B−0.7%
  15. 15Ecopro BM−₩11B−5.5%

Institutions

Net bought

  1. 1SK hynix+₩596B+4.4%
  2. 2Samsung Electronics+₩131B+0.5%
  3. 3SK Square+₩72B+3.2%
  4. 4Samsung Biologics+₩57B+7.7%
  5. 5Samsung Electro-Mechanics+₩34B−2.0%
  6. 6Samsung SDS+₩32B+3.1%
  7. 7KB Financial Group+₩24B−3.3%
  8. 8Samsung C&T+₩22B−0.2%
  9. 9SK+₩19B+0.9%
  10. 10Celltrion+₩17B+0.1%
  11. 11LG CNS+₩16B−0.1%
  12. 12Yuhan+₩15B+0.8%
  13. 13Samyang Foods+₩14B−0.1%
  14. 14Vina Tech+₩13B+9.9%
  15. 15S-1+₩12B−0.7%

Net sold

  1. 1Samsung SDI−₩20B−4.2%
  2. 2LG Innotek−₩19B−4.1%
  3. 3Hanwha Ocean−₩18B−3.3%
  4. 4Hanwha Systems−₩17B−10.3%
  5. 5RF Materials−₩16B−7.4%
  6. 6PharmaResearch−₩15B−6.1%
  7. 7S-Oil−₩15B−5.3%
  8. 8Leeno Industrial−₩15B−4.1%
  9. 9디티에스−₩14B+35.1%
  10. 10NAVER−₩14B−1.6%
  11. 11POSCO Holdings−₩13B−3.7%
  12. 12APR−₩12B−2.2%
  13. 13L&F−₩11B−5.8%
  14. 14Hanwha Aerospace−₩11B−2.3%
  15. 15Hyundai Motor−₩9.7B−2.0%

Retail investors

Net bought

  1. 1Samsung Electro-Mechanics+₩98B−2.0%
  2. 2Samsung SDI+₩54B−4.2%
  3. 3SK Square+₩28B+3.2%
  4. 4POSCO Holdings+₩25B−3.7%
  5. 5Doosan Enerbility+₩21B−3.6%
  6. 6디티에스+₩20B+35.1%
  7. 7Ecopro+₩18B−5.8%
  8. 8Hanwha Systems+₩17B−10.3%
  9. 9Ecopro BM+₩13B−5.5%
  10. 10Simmtech+₩12B−5.0%
  11. 11Hyundai Motor+₩11B−2.0%
  12. 12LG Chem+₩10B−3.8%
  13. 13LS Electric+₩10B−2.8%
  14. 14Korean Air Lines+₩9.8B−2.5%
  15. 15NAVER+₩9B−1.6%

Net sold

  1. 1Samsung E&A−₩182B+7.9%
  2. 2Samsung Biologics−₩51B+7.7%
  3. 3GS Holdings−₩18B−2.8%
  4. 4Samsung Electronics−₩16B+0.5%
  5. 5Celltrion−₩14B+0.1%
  6. 6Fine M-Tec−₩12B+10.3%
  7. 7LIG Defense&Aerospace−₩11B−1.6%
  8. 8Korea Electric Power−₩9.7B−0.5%
  9. 9Samsung SDS−₩9.4B+3.1%
  10. 10Jusung Engineering−₩9.3B−3.6%
  11. 11LG CNS−₩8.4B−0.1%
  12. 12LG Electronics−₩8.1B−1.8%
  13. 13Vina Tech−₩7.7B+9.9%
  14. 14G2GBIO−₩6.7B+20.6%
  15. 15Samsung Electronics Pref.−₩6.2B+0.5%

ETFs

China-linked ETFs led: KODEX China Humanoid Robot +7.1%, TIGER China Humanoid Robot +6.3%, TIGER China EV +4.2% and TIGER China Semiconductor +3.5%. Construction ETFs rose about 2.1% to 2.4%. The worst were KODEX US AI Optical Communication Network (-5.5%), KODEX US AI Power Core Infrastructure (-5.4%), several secondary battery ETFs (-4.3% to -5.0%) and defense and space ETFs (about -4.0%). Money moved away from batteries, defense and US AI infrastructure products.

Best ETFs

Worst ETFs

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

How our signals did

Of 20 Squeeze! setups since Sept. 23, 6 reached TP1, 7 were stopped and 7 are open. Kukdo Chemical (short) hit TP1 at +6.6% and Yangjisa (long) reached TP2. Samsung E&A's breakout signal showed +7.9%. Of 40 technical events, 13 worked. Eight pair setups were stretched and none had reverted, including Hanwha Ocean / Samsung Heavy Industries. Short squeeze scores were 60 for Meritz Financial Group, Hanssem and ISU Specialty Chemical.

Squeeze! setups

20 setups confirmed: 6 reached a target, 7 stopped out, 7 still open.

Notable technical signals

40 notable signals: 13 moved the way they pointed so far.

Pair trades

8 pairs stretched: 0 came back together since.

Highest short squeeze scores

Signals since Sep 23. 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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