KOSPI falls on Oct 26, rebounds 3.09% and 6.63%, then slips 1.24% to 5,937.66 on Oct 29
In short
South Korea's KOSPI closed at 5,469.47 on Oct 26, down 1.46%, then rose 3.09% to 5,638.34 on Oct 27 and 6.63% to 6,012.44 on Oct 28. On Oct 29 it fell 1.24% to 5,937.66. Outlets linked the Oct 27 rebound to Anthropic's IPO filing and gains in chip stocks.
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South Korea's KOSPI closed at 5,469.47 on Oct 26, down 80.83 points or 1.46%, according to Yonhap and Asia Economy. Yonhap added that the KOSDAQ fell 3.26%. [ 1 , 2 , 3 ]
Maeil Business's automatically generated market report said no sector rose on Oct 26. Metals fell 3.51%, machinery and equipment 3.16%, textiles and apparel 3.01%, transport equipment and parts 2.96% and construction 2.74%. Among top stocks by market value, Samsung C&T rose 1.39% and Samsung Life 0.61%, while KB Financial fell 3.79%, Hyundai Motor 2.54%, LG Energy Solution 2.09% and Samsung Electronics 1.16%. In the KOSPI market 489 stocks rose and 1,840 fell. [ 4 ]
On Oct 27 the index rebounded 3.09%, or 168.87 points, to 5,638.34, and the KOSDAQ rose 2.29% to 743.83. Asia Economy's text gives the point gain as 191.18, a figure that differs from the other outlets. CBS NoCut News said the KOSPI opened at 5,658.65, up 3.46%, and Asia Economy said it touched 5,737.61 during the session. A buy sidecar, which suspends program buy orders for five minutes, was triggered at 10:13. [ 5 , 6 , 8 , 10 , 11 , 13 ]
Electronic Times and Dong-A Ilbo attributed the rise to Anthropic's IPO registration filing, which said second-quarter operating profit was 970 million dollars, a turn to profit. Electronic Times said this eased concern about the cost of large AI investment and drew buying into chip stocks. Daishin Securities' Lee Kyung-min said the filing changed the market mood. CBS NoCut News said US stocks rose on the filing news the previous day and that the Philadelphia Semiconductor Index gained 2.82%. [ 11 , 12 , 13 ]
Samsung Electronics rose 4.23% to 222,000 won and SK Hynix rose 5.18% to 1,341,000 won. Foreign investors and institutions were net buyers on the KOSPI, with reported foreign net purchases ranging from 591.1 billion to 593.3 billion won across outlets, and individuals were net sellers of about 949 billion won. KB Securities' Lim Jung-eun said the indexes gave up some of their gains in the afternoon. [ 8 , 10 , 11 , 13 ]
On Oct 28 the KOSPI closed at 6,012.44, up 374.10 points or 6.63%, according to Yonhap, Asia Economy and Seoul Economic Daily. On Oct 29 it closed at 5,937.66, down 74.78 points or 1.24%, according to Yonhap and Asia Economy. The documents for those two days contain closing figures only and give no reasons. Earlier reports said SK Hynix would report third-quarter results on Oct 28 and Samsung Electronics on Oct 29, with a US Federal Open Market Committee decision due on Oct 28 US time. [ 11 , 12 , 15 , 16 , 17 , 18 , 19 ]
Why it matters
The index moved sharply in both directions over four sessions, and outlets tied the Oct 27 jump to news about an AI company's profitability and to large chip stocks. The documents give no reason for the Oct 28 gain or the Oct 29 decline.
Key facts
- On Oct 26 the KOSPI closed at 5,469.47, down 80.83 points (1.46%); the KOSDAQ fell 3.26%. [ 1 , 2 , 3 ]
- On Oct 27 the KOSPI closed at 5,638.34, up 168.87 points (3.09%), and the KOSDAQ rose 2.29% to 743.83. [ 5 , 6 , 10 , 11 , 13 ]
- On Oct 28 the KOSPI closed at 6,012.44, up 374.10 points (6.63%). [ 15 , 16 , 17 ]
- On Oct 29 the KOSPI closed at 5,937.66, down 74.78 points (1.24%). [ 18 , 19 ]
- On Oct 27 Samsung Electronics rose 4.23% to 222,000 won and SK Hynix rose 5.18% to 1,341,000 won. [ 10 , 11 , 12 , 13 ]
- A buy sidecar, which suspends program buy orders for five minutes, was triggered at 10:13 on Oct 27. [ 8 , 11 , 13 ]
- On Oct 26 no sector rose; of KOSPI-listed stocks, 489 rose and 1,840 fell. [ 4 ]
Confirmed by several sources
- The KOSPI closed at 5,469.47 on Oct 26, down 80.83 points or 1.46%. [ 1 , 2 , 3 , 4 ]
- The KOSPI closed at 5,638.34 on Oct 27, up 3.09%, with the KOSDAQ up 2.29% at 743.83. [ 5 , 6 , 7 , 10 , 11 , 12 , 13 ]
- The KOSPI closed at 6,012.44 on Oct 28, up 374.10 points or 6.63%. [ 15 , 16 , 17 ]
- The KOSPI closed at 5,937.66 on Oct 29, down 74.78 points or 1.24%. [ 18 , 19 ]
- Outlets linked the Oct 27 rebound to Anthropic's IPO filing, which showed second-quarter operating profit of 970 million dollars. [ 11 , 12 , 13 ]
Still unclear
- Why the KOSPI rose 6.63% on Oct 28 and fell 1.24% on Oct 29. The documents for these days give closing figures only and no explanation.
- The point gain on Oct 27. Asia Economy's text gives 191.18 points, while Yonhap, Korea Economic Daily, Electronic Times and CBS NoCut News give 168.87 points for the 3.09% rise.
- The number of sidecars this year. CBS NoCut News called the Oct 27 sidecar the 53rd of the year, while Electronic Times and Dong-A Ilbo called it the 26th buy sidecar of the year.
- Foreign investors' net buying on the KOSPI on Oct 27. Asia Economy gives 591.1 billion won, CBS NoCut News 592.7 billion won and Electronic Times 593.3 billion won.
What local media are saying
Timeline, local time
- Oct 26: Yonhap reports the KOSPI closed at 5,469.47, down 1.46%. [ 1 ]
- Oct 27: a buy sidecar is triggered on the KOSPI. [ 8 , 11 , 13 ]
- Oct 27: Yonhap reports the KOSPI closed at 5,638.34, up 3.09%. [ 5 ]
- Oct 28: Yonhap reports the KOSPI closed at 6,012.44, up 6.63%. [ 15 ]
- Oct 29: Yonhap reports the KOSPI closed at 5,937.66, down 1.24%. [ 18 ]