Daily Briefing on Domestic Stock Market — 2026-04-27

Current Index Status

Note: These figures are based on intraday data as of 10:12 AM on April 27 and may differ from final closing prices. Please verify the final closing figures on the exchange’s official website.

Driven by strong early buying, the KOSPI climbed 1.79% to 6,591.41 by 10:12 AM, reaching a record high of 6,603.01. The combined market capitalization of the Korean stock market (KOSPI + KOSDAQ) reached a historic milestone of 6 quadrillion won. Alongside Japan's Nikkei 225, the rally was spearheaded by the AI and semiconductor sectors.

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digitaltoday.co.kr

digitaltoday.co.kr

Supply and Demand by Investor Type

• Foreigners: Continued buying has propelled the KOSPI. Foreign investors are heavily purchasing large-cap AI and semiconductor stocks, buoyed by hopes that Middle East geopolitical risks (U.S.-Iran negotiations) will ease.
• Institutions: Funds are flowing into semiconductors and large-cap tech stocks, particularly those linked to the AI value chain.
• Retail Investors (Ants): After selling 231.1 billion won worth of KOSDAQ 150 ETFs last week, capital is shifting toward KOSPI 200-related products. There is also profit-taking and hedging, with about $317 million (approx. 440 billion won) bet on semiconductor inverse ETFs.

Major Stocks Today

Top 3 Gainers

Large-cap AI/Semiconductor Stocks (Samsung Electronics, SK Hynix, etc.) The core engine of today's KOSPI rally is the surge across the AI and semiconductor value chain. Expected spikes in HBM and server memory demand due to global AI expansion are fueling the share prices.

Defense & Shipbuilding Following strong demand during the Middle East tensions on April 24 (Fri), these sectors remain robust. The stalemate in U.S.-Iran negotiations acts as a factor maintaining defense demand.

AI Software & Platform Stocks Reflecting the need for AI infrastructure, domestic AI software and platform stocks are rallying, spreading the momentum from the semiconductor sector across the entire AI ecosystem.

Top 3 Losers

Semiconductor Inverse ETF-related Concerns As retail investors poured money into semiconductor inverse ETFs, some stocks perceived as "overheated" are seeing profit-taking.

KOSDAQ 150 ETF (Net retail selling) Small-to-mid-cap KOSDAQ stocks tied to the KODEX KOSDAQ150 ETF are seeing relative weakness due to the capital flight seen last week.

Sectors sensitive to Middle East geopolitics With U.S.-Iran talks at a standstill, some sectors heavily reliant on oil and energy are facing re-evaluations of risk.

Sector Trends

Bullish Sectors:

• Semiconductor/IT: The main driver of today's record-breaking KOSPI. Samsung Electronics and SK Hynix lead the charge.
• Defense/Shipbuilding: Driven by expectations of defense demand and the global trend of naval expansion.

Bearish Sectors:

• KOSDAQ Small/Mid-cap IT & Bio: Suffering from capital shifting toward KOSPI large-caps.
• Energy/Raw Materials: Sentiments are dampened by the lingering uncertainty of oil supplies due to the U.S.-Iran deadlock.

Key Issues & Drivers

1. KOSPI surpasses 6,600 and Market Cap hits 6 quadrillion won

• Details: KOSPI reached 6,591.41 by 10:12 AM, with an intraday high of 6,603.01. The combined market cap hit 6 quadrillion won (approx. $4.1 trillion).
• Impact: Foreign and institutional buying focused on large semiconductors has elevated overall market valuations.

2. Japan and Korea hit record highs despite U.S.-Iran impasse

• Details: Both the Nikkei 225 and KOSPI hit record highs today. Investors are ignoring the nuclear negotiation deadlock, prioritizing AI and semiconductor fundamentals.
• Impact: Global capital is concentrating in Asian tech hubs, valuing fundamental growth over geopolitical risks.

3. KOSPI Outlook: Semiconductor earnings and geopolitical variables

• Details: Maeil Business Newspaper (MK) suggests the focus this week is whether the rally can be sustained by semiconductor earnings and the cooling of geopolitical risks.

4. Retail investors shift from KOSDAQ to KOSPI and U.S. stocks

• Details: Seoul Economic Daily reported that retail investors net-sold 231.1 billion won of KODEX KOSDAQ150 ETFs, moving funds to KOSPI 200 products and betting $317 million on inverse semiconductor ETFs.

5. Korea remains top foreign buyer of U.S. stocks

• Details: CNBC reports that Korean retail investors maintained their status as the largest foreign buyers of U.S. stocks from Jan-Nov 2025, a trend that persists despite domestic gains.

Macro & External Variables

• KRW/USD Exchange Rate: While specific figures are unavailable, the KOSPI rally and foreign net buying are exerting pressure for a stronger Won.
• Asian Markets: Nikkei 225 and KOSPI are rising in tandem, reflecting strong risk-on sentiment across Asia.
• U.S.-Iran Negotiations: Stalled, but the market is currently shrugging it off.
• Global AI/Semiconductor Cycle: Strong Capex plans by Big Tech continue to fuel demand for HBM and server memory.
• KOSPI Valuation: Reuters notes that despite a 40% rally, the 12-month forward PER has actually dropped by 28%, indicating rational pricing.

Checkpoints for Tomorrow

• KOSPI 6,600 stability: Whether the index can hold above 6,600 at the close.
• Semiconductor/AI earnings: Key for determining market direction.
• U.S.-Iran talks: Developments will impact defense and energy stocks.
• Foreign capital flows: Monitoring for continued net buying or profit-taking.

Investment Guidelines

• Short-term: AI and semiconductors remain promising if 6,600 holds. Consider staggered positioning to prepare for potential profit-taking.
• Medium/Long-term: With forward PER low relative to fundamentals, the upside remains attractive. Keep an eye on defense and shipbuilding cycles.
• Risks: 1) Resurgence of Middle East risk, 2) Downward adjustment of Big Tech Capex, 3) Increased volatility from retail bets on inverse ETFs.

Expert Comments

Reuters analysis: "Despite a 40% rally since late October, KOSPI’s 12-month forward PER has fallen 28%, suggesting earnings growth is outpacing stock prices."

Bloomberg: "After outperforming global markets in 2025, Korean stocks continue to attract investment due to attractive valuations and strong support for tech and the market."

Maeil Business (MK): "The market must balance semiconductor earnings optimism with ongoing geopolitical variables."

This briefing is based on public information as of the morning of April 27, 2026. Intraday figures may differ from final closing data; please consult official exchange data before making investment decisions.