KOSPI avoids Asian rout on foreign buying
2026.07.20 09:47
SEOUL, July 20 (AJP) -South Korea's main stock market, home to Samsung Electronics and SK hynix, received a marginal hit Monday as it returned from a holiday, after a broad AI-led selloff Friday across global markets after Chinese startup Moonshot AI unveiled its open-source Kimi K3 model, a release many investors likened to a new "DeepSeek moment."
Returning from a one-day holiday on Friday for Constitution Day, Seoul's market opened less panicky than regional peers as renewed foreign buying helped cushion losses in heavyweight semiconductor stocks.
The benchmark KOSPI, which briefly fell below the 6,750 mark at the open amid the broader Asian retreat, was off 0.5 percent from Thursday's close at 6,786.36.
Foreign investors bought a net 414 billion won ($226 million) worth of shares, while institutions added a net 124 billion won. Retail investors sold a net 547.3 billion won, taking profits after recent gains.
Samsung Electronics was flat at 255,000 won ($169.50), while SK hynix outperformed the broader market, rising 1.2 percent to 1,858,000 won ($1,242.30). The resilience of the two semiconductor bellwethers, which together account for roughly half of the KOSPI's semiconductor market capitalization, helped prevent a steeper decline in the benchmark index.
The tech-heavy KOSDAQ underperformed, falling 2.21 percent to 774.94 as investors trimmed positions in smaller AI- and growth-related stocks.
Elsewhere on the main board, Hyundai Motor fell 4.0 percent to 408,000 won, LG Energy Solution lost 2.5 percent to 325,500 won and Hanwha Aerospace dropped 5.5 percent to 891,000 won.
The won gained further grounds, trading at 1,487.60 per U.S. dollar from Thursday's close of 1,480.40.
Joseph Kwak Reporter joseph@ajunews.com
Returning from a one-day holiday on Friday for Constitution Day, Seoul's market opened less panicky than regional peers as renewed foreign buying helped cushion losses in heavyweight semiconductor stocks.
The benchmark KOSPI, which briefly fell below the 6,750 mark at the open amid the broader Asian retreat, was off 0.5 percent from Thursday's close at 6,786.36.
Foreign investors bought a net 414 billion won ($226 million) worth of shares, while institutions added a net 124 billion won. Retail investors sold a net 547.3 billion won, taking profits after recent gains.
Samsung Electronics was flat at 255,000 won ($169.50), while SK hynix outperformed the broader market, rising 1.2 percent to 1,858,000 won ($1,242.30). The resilience of the two semiconductor bellwethers, which together account for roughly half of the KOSPI's semiconductor market capitalization, helped prevent a steeper decline in the benchmark index.
The tech-heavy KOSDAQ underperformed, falling 2.21 percent to 774.94 as investors trimmed positions in smaller AI- and growth-related stocks.
Elsewhere on the main board, Hyundai Motor fell 4.0 percent to 408,000 won, LG Energy Solution lost 2.5 percent to 325,500 won and Hanwha Aerospace dropped 5.5 percent to 891,000 won.
The won gained further grounds, trading at 1,487.60 per U.S. dollar from Thursday's close of 1,480.40.
Joseph Kwak Reporter joseph@ajunews.com
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