PiCK
Kospi Falls More Than 2% as Chip Stocks Slide; Hyundai Motor, Biotech Shares Gain
Summary
- The Kospi fell more than 2% on a plunge in semiconductor stocks, with Samsung Electronics and SK Hynix posting steep losses.
- Semiconductor-related stocks were weak on concerns over AI infrastructure regulation after U.S. Democrats took control of both chambers of Congress.
- By contrast, buying flowed into large non-chip stocks including Hyundai Motor, biotech and financial shares, while foreign investors were net sellers and institutions and retail investors were net buyers.
Forecast Trend Report by Period
South Korea’s Kospi fell more than 2% in early trading on November 5 as semiconductor shares including Samsung Electronics and SK Hynix tumbled. Hyundai Motor and major biotech and financial stocks rose, underscoring a sharp divide with chipmakers.
As of 9:07 a.m., the Kospi was down 2.27% from the previous session at 5,554.52. Samsung Electronics fell 3.33%, while SK Hynix dropped 5.87%. SK Square also slid 6.34%.
Chip stocks came under pressure on concerns over AI infrastructure regulation after U.S. Democrats took control of both chambers of Congress. Overnight in New York, major indexes surged as election uncertainty eased and Treasury yields and international oil prices fell, but semiconductor-related shares were weak.
By contrast, buying flowed into large South Korean stocks outside the semiconductor sector. Hyundai Motor rose 6.35% and Celltrion gained 7%, while Samsung Biologics and KB Financial climbed 4.48% and 4.69%, respectively.
On the main board, foreigners were net sellers of 247 billion won. Institutions and retail investors were net buyers of 175 billion won and 115 billion won, respectively.
At the same time, the Kosdaq was down 0.45% from the previous session at 711.75.
