Ask Warren

Monthly wrap · June 2026 · 21 trading days

KOSPI ends June flat at 8,476.5 after circuit breakers; KOSDAQ falls 14.7%, won weakest in 17 years

KOSPI0.0%KOSDAQ−14.7%KOSPI 200+2.1%

June was a month of violent swings for Korean stocks. The KOSPI ended at 8,476.5, a change of -0.0% from the prior month end, but the path included three circuit breakers. Sources point to a Nasdaq drop on June 4 after weak Broadcom AI chip guidance, MSCI again leaving South Korea off its Developed Markets watchlist, and heavy foreign selling. One analyst described the fall as an unwinding of crowded chip positions rather than a new major negative. On the worst day the KOSPI closed at 8,203 (-9.99%) and the KOSDAQ at 891 (-7.94%). The chip rebound followed: Micron's stronger results helped lift the KOSPI 5.4% on June 25, and the index later passed 9,000 before ending the month lower.

The damage was uneven. Samsung Electronics rose 5.4% and SK hynix 13.6%, but most themed groups fell sharply: space and aerospace -30.7%, foundry and chip design -28.4%, robots and humanoids -26.2%, AI software -25.1%, K-defense -24.9% and EV batteries -24.1%. The KOSDAQ lost 14.7%. Late in the month the government announced its 'Great Leap Forward' mega-projects on June 29, including a southwest chip belt, and construction and chip-equipment names jumped, with KUMHO Engineering & Construction up 174.9% and Kctech up 83.8%. Sources said the Kumho rally was thematic and the contract was not confirmed.

Why the market moved

The KOSPI swung on an AI chip sell-off after Nasdaq falls, MSCI's exclusion decision and foreign selling, then rebounded on chip results and AI demand. The won hit a 17-year low after a hawkish Fed.1234567

Top themes

Semiconductor equipment

Government chip plan and capex hopes lift suppliers1234

  • PSK, Benefits from chipmaker capex growth+99.10%
  • VM, Key customer SK hynix; target raised+85.56%
  • Kctech, Gained on government chip investment plan+83.85%

The big stories

KOSPI swings on AI chip sell-off and rebound

The KOSPI fell sharply in June on AI chip concerns and foreign selling, triggering circuit breakers, after MSCI again left South Korea off its Developed Markets watchlist. Samsung Electronics closed up 5.37% and SK hynix up 13.62% in the latest sessions, as chipmakers drove the index.1234567

Directly affected

Next in line

Further out

Government mega-projects spark rally in Honam chip-cluster plays

After the government announced its 'Great Leap Forward' mega-projects on June 29, including a southwest chip belt, stocks such as KUMHO Engineering & Construction and Tongyang Pile surged, with KUMHO up 174.91% and Tongyang Pile up 151.57% on the close. The reports note these rallies were thematic, and the KUMHO contract filing remained unconfirmed.12345

Directly affected

Next in line

Further out

Won hits 17-year low as foreigners sell and Fed turns hawkish

Foreign investors sold heavily, sparking a 'Black Friday' Kospi sell-off as funds moved to US listings such as SpaceX, and the won fell to a 17-year low. The Fed under Warsh held rates at 3.50-3.75% but signaled possible hikes this year, and the won-dollar rate closed at 1,527.1 won.123

Directly affected

  • weak-won—won weakness lifted the exchange rate to a 17-year low

Next in line

Further out

Department store stocks surge on weak won and foreign tourists

Hyundai Department Store rose to new highs as the weak won drew foreign tourists into luxury shopping, and it closed up 76.41%. Brokers raised target prices, though the exchange flagged the stock as an investment-caution name after a 94% rise in 15 days.1234

Directly affected

Next in line

  • weak-won—weak won cut prices for foreign visitors

Further out

SpaceX IPO allocation fallout hits venture investors

Mirae Asset Venture Investment, AJU IB Investment and Cosmo Robotics fell sharply after failing to secure SpaceX IPO shares or after investment-related news, with Mirae Asset Venture closing down 60.39%. The Financial Supervisory Service began an on-site inspection of the allocation.12345

Directly affected

Next in line

The market

The KOSPI closed June at 8,476.5, essentially unchanged (-0.0%), the KOSDAQ at 916.2 (-14.7%) and the KOSPI 200 at 1,370.7 (+2.1%). Breadth was weak: 981 stocks rose, 1,597 fell and 192 were flat. Trading value for the period was about ₩50.1 trillion against an average of about ₩59.0 trillion. Foreigners were net sellers of about ₩48.6 trillion on the KOSPI and net buyers of about ₩1.6 trillion on the KOSDAQ. The won weakened 2.4% to 1,541.5 per dollar; sources cited a 17-year low and a hawkish Fed under Warsh, which held rates at 3.50-3.75% with half of members seeing at least one hike this year. The 3-year KTB yield was 3.703%, down 2.8 basis points. On Nasdaq, sources reported falls of 4.18% on June 4 and 2.2% on another session.

KOSPIDaily closes · shaded: this wrap8,476.48
4,0006,0008,000
Nov 24Feb 3Apr 17Jun 30
KOSDAQDaily closes · shaded: this wrap916.18
9001,0001,1001,200
Nov 24Feb 3Apr 17Jun 30

981 stocks rose, 1,597 fell · trading value ₩50T

USD/KRW1,541.5+2.4%
KTB 3y3.7-3bp

Themes investors follow

Among the themes tracked, only sports and leisure (+3.9%) and insurance (+2.4%) rose. Banks fell 0.2% and construction and Middle East projects 0.1%, the latter lifted by KUMHO Engineering & Construction (+174.9%) and Nam Hwa Construction (+109.9%). HBM and AI chips fell 8.3% as a group despite SK hynix and Samsung Electronics gains; HVM fell 47.3% and Hanmi Semiconductor 9.1%. Semiconductor equipment and materials fell 10.1% overall, yet PSK rose 99.1%, Kctech 83.8%, Foosung 74.8% and Wonik IPS 58.6%; sources link several to capex expectations and the government chip-investment plan. Power grid fell 16.7% (Gaon Cable +30.5%), shipbuilding 17.7%, biotech 19.0%, hydrogen 27.5%, and K-beauty 8.4%. K-defense fell 24.9%: LIG Defense&Aerospace -10.2%, Korea Aerospace Industries -13.0%, Hanwha Aerospace -15.2%. Retail and duty-free was down 0.5% but Hyundai Department Store rose 76.4% and Shinsegae 46.6%.

Popular themes

Best themes

  • Sports & leisure+3.9%Namhwa Industrial +58.4% · Golfzon Holdings +47.5% · Golfzon −7.6%
  • Insurance+2.4%Mirae Asset Life Insurance +42.9% · Samsung Fire & Marine Insurance +8.6% · Lotte Non-Life Insurance +8.1%
  • Construction & Middle East projects−0.1%KUMHO Engineering & Construction +174.9% · KUMHO Engineering & Construction Pref. +141.6% · Nam Hwa Construction +109.9%
  • Aesthetics & botox−0.1%PharmaResearch +23.1% · HuM&C +10.4% · Hugel +6.2%
  • Banks−0.2%KB Financial Group +5.6% · JB Financial Group +3.8% · Shinhan Financial Group +2.4%
  • Chip testing & packaging−2.9%Mirae +63.0% · Simmtech +25.9% · Hana Micron +23.2%

Worst themes

  • Self-driving−32.7%Nextchip −42.2% · Hyundai Mobis −34.9% · HL Mando −21.1%
  • Space & aerospace−30.7%Kencoa Aerospace −54.3% · Nara Space Technology −46.5% · Asia Pacific Satellite lnc −39.8%
  • Foundry & chip design−28.4%Korchip −44.3% · SemiFive −44.1% · Sigetronics −43.5%
  • Hydrogen−27.5%Doosan Fuel Cell −38.7% · Doosan Fuel Cell Pref. −31.0% · Bumhan Fuel Cell −26.0%
  • Robots & humanoids−26.2%Cosmo Robotics −59.5% · Raon Robotics −44.9% · Zenix Robotics −44.3%
  • AI software & services−25.1%MakinaRocks −55.8% · Iteyes −47.1% · Nota −46.2%

The biggest companies

Samsung Electronics rose 5.4% and SK hynix 13.6%; SK Square gained 37.6%. Sources tie the chip moves to AI chip sentiment, Micron's results, and a report that Apple raised some prices amid memory shortage. SK hynix also filed on a depositary receipt issue and an overseas listing decision. Samsung Electro-Mechanics rose 2.7%, Samsung Life Insurance 3.2%, Samsung C&T 8.3%, Samsung Biologics 2.1%, KB Financial Group 5.6% and SK 23.4%. Decliners were Hyundai Motor -31.5%, LG Energy Solution -21.0%, HD Hyundai Heavy Industries -14.9%, Doosan Enerbility -17.8%, KIA -18.5% and Hanwha Aerospace -15.2%. No clear reason was reported for the auto and battery declines.

Who was buying and selling

Foreigners sold Samsung Electronics (about ₩20.8 trillion), SK hynix (about ₩19.7 trillion) and SK Square (about ₩5.2 trillion), plus LG Electronics, Hyundai Motor and Hyundai Mobis. Sources say funds moved toward US listings such as SpaceX. Their top buys were Samsung Electro-Mechanics (about ₩2.4 trillion), Leeno Industrial and Doosan. Institutions bought SK hynix (about ₩3.7 trillion), Samsung Electronics (about ₩3.3 trillion) and SK Square (about ₩2.8 trillion), and sold Hyundai Motor and Samsung Electro-Mechanics. Retail investors bought Samsung Electronics (about ₩17.1 trillion), SK hynix (about ₩15.6 trillion), Hyundai Motor (about ₩2.5 trillion) and SK Square, and sold Samsung Electro-Mechanics and Leeno Industrial.

Foreign investors

Net bought

  1. 1Samsung Electro-Mechanics+₩2.4T+2.7%
  2. 2Leeno Industrial+₩494B−13.7%
  3. 3Doosan+₩385B−24.6%
  4. 4LG Energy Solution+₩330B−21.0%
  5. 5Fadu+₩272B−21.9%
  6. 6Hyundai-Rotem+₩271B−13.7%
  7. 7Hanmi Semiconductor+₩245B−9.1%
  8. 8Mirae Asset Securities+₩239B−30.4%
  9. 9LIG Defense&Aerospace+₩236B−10.2%
  10. 10Korean Air Lines+₩215B+2.8%
  11. 11Samsung Biologics+₩206B+2.1%
  12. 12KIA+₩201B−18.5%
  13. 13LG Chem+₩199B−23.7%
  14. 14LS Electric+₩192B−1.5%
  15. 15POSCO Holdings+₩177B−25.2%

Net sold

  1. 1Samsung Electronics−₩21T+5.4%
  2. 2SK hynix−₩20T+13.6%
  3. 3SK Square−₩5.2T+37.6%
  4. 4LG Electronics−₩2T−30.7%
  5. 5Samsung Electronics Pref.−₩1.8T+4.7%
  6. 6Hyundai Motor−₩1.5T−31.5%
  7. 7Hyundai Mobis−₩748B−34.9%
  8. 8NAVER−₩690B−15.0%
  9. 9LG Innotek−₩555B−32.7%
  10. 10HD Hyundai Electric−₩445B−7.7%
  11. 11Samsung C&T−₩422B+8.3%
  12. 12Doosan Enerbility−₩404B−17.8%
  13. 13SK Telecom−₩367B−12.1%
  14. 14Samsung Heavy Industries−₩307B−16.6%
  15. 15Jeju Semiconductor−₩227B+6.3%

Institutions

Net bought

  1. 1SK hynix+₩3.7T+13.6%
  2. 2Samsung Electronics+₩3.3T+5.4%
  3. 3SK Square+₩2.8T+37.6%
  4. 4NAVER+₩685B−15.0%
  5. 5HD Hyundai Electric+₩417B−7.7%
  6. 6DB HiTek+₩245B−22.3%
  7. 7Simmtech+₩241B+25.9%
  8. 8VM+₩240B+85.6%
  9. 9Alteogen+₩202B−2.2%
  10. 10Samsung C&T+₩193B+8.3%
  11. 11HPSP+₩191B+11.0%
  12. 12Wonik IPS+₩187B+58.6%
  13. 13Isupetasys+₩168B−10.7%
  14. 14Korea Aerospace Industries+₩166B−13.0%
  15. 15PSK+₩166B+99.1%

Net sold

  1. 1Hyundai Motor−₩1.1T−31.5%
  2. 2Samsung Electro-Mechanics−₩906B+2.7%
  3. 3Hanmi Semiconductor−₩684B−9.1%
  4. 4Doosan−₩468B−24.6%
  5. 5LG Electronics−₩375B−30.7%
  6. 6Samsung SDI−₩369B−29.2%
  7. 7POSCO Holdings−₩303B−25.2%
  8. 8LS Electric−₩261B−1.5%
  9. 9LG−₩223B−33.6%
  10. 10LG Energy Solution−₩199B−21.0%
  11. 11Gaon Cable−₩196B+30.5%
  12. 12Doosan Robotics−₩190B−15.2%
  13. 13LG Innotek−₩188B−32.7%
  14. 14Mirae Asset Securities−₩167B−30.4%
  15. 15EO Technics−₩162B+3.9%

Retail investors

Net bought

  1. 1Samsung Electronics+₩17T+5.4%
  2. 2SK hynix+₩16T+13.6%
  3. 3Hyundai Motor+₩2.5T−31.5%
  4. 4SK Square+₩2.3T+37.6%
  5. 5LG Electronics+₩2.2T−30.7%
  6. 6Samsung Electronics Pref.+₩1.5T+4.7%
  7. 7LG Innotek+₩729B−32.7%
  8. 8Hyundai Mobis+₩570B−34.9%
  9. 9Doosan Enerbility+₩524B−17.8%
  10. 10SK Telecom+₩490B−12.1%
  11. 11Samsung SDI+₩441B−29.2%
  12. 12Hanmi Semiconductor+₩436B−9.1%
  13. 13Hanwha Ocean+₩350B−18.7%
  14. 14Samsung Heavy Industries+₩275B−16.6%
  15. 15Taihan Cable & Solution+₩257B−25.4%

Net sold

  1. 1Samsung Electro-Mechanics−₩1.4T+2.7%
  2. 2Leeno Industrial−₩530B−13.7%
  3. 3Korean Air Lines−₩364B+2.8%
  4. 4LIG Defense&Aerospace−₩318B−10.2%
  5. 5Celltrion−₩214B−5.7%
  6. 6Alteogen−₩208B−2.2%
  7. 7Hyundai-Rotem−₩185B−13.7%
  8. 8Foosung−₩173B+74.8%
  9. 9HD Hyundai Marine Solution−₩150B+0.2%
  10. 10Samsung Life Insurance−₩137B+3.2%
  11. 11D&D Pharmatech−₩120B−7.5%
  12. 12Fadu−₩114B−21.9%
  13. 13DB HiTek−₩110B−22.3%
  14. 14Isupetasys−₩109B−10.7%
  15. 15Kbank−₩109B−1.9%

ETFs

The best ETFs were semiconductor funds: TIGER China Semiconductor FACTSET +40.8%, HANARO Semiconductor Core Process Leaders +32.2%, TIGER China STAR50 (Synthetic) +28.8% and KODEX China AI Semiconductor TOP10 +28.7%. HBM and memory funds also rose, including PLUS Global HBM Semiconductor +21.4%. The worst were TIGER US Space Tech -40.2%, RISE Hyundai Motor Fixed Physical AI -31.2%, PLUS Aerospace -30.4% and TIGER LG Group Plus -29.8%, with humanoid, battery, AI software and defense funds down 27% to 29%.

Best ETFs

Worst ETFs

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

How our signals did

No Squeeze! setups were recorded in the period. Of 39 technical events, 18 worked. Hanwha Ocean's dead-cross signal on June 22 worked (-50.9%) and KIA's breakdown on June 23 worked (-20.8%). Samkee Energy Solutions' 200-day reclaim on June 25 gained 24.0% and Lotte Non-Life Insurance's on June 29 gained 11.6%. Failures included Kangdong C&L (golden cross, -45.5%), HL Mando (breakout, -46.1%), Ecopro (200-day reclaim, -34.6%) and Korean Air Lines (breakout, -11.8%). No pair trades were flagged. Short squeeze scores were 60 for Meritz Financial Group, Hanssem and ISU Specialty Chemical, 58 for SM Entertainment and KMW.

Notable technical signals

39 notable signals: 18 moved the way they pointed so far.

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. Index and stock moves are the daily moves compounded over the period. Reasons come only from the linked daily wraps, news, filings and broker reports; when none gives a reason, we say so. Not financial advice.

All monthly wraps →