Domestic Market Closing Brief and AI Investment Ideas — 2026-06-24

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Market Closing Status

• KOSPI Index: Closed at the 8,200 level, down 910.71 points (9.99%).
• Key Features:
  • Massive profit-taking in semiconductor stocks led to net selling of over 11 trillion won by foreigners and institutions.
  • Market volatility has intensified, with this marking the fourth circuit breaker of the year.
  • Simultaneous liquidation by institutional and foreign investors was confirmed in the 23rd's spot market trading data.

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Today's Market Movers and Major Issues

SK Hynix Claims Top Market Cap Spot For the first time in 24 years, SK Hynix has overtaken Samsung Electronics as the number one stock by market capitalization on the KOSPI. This is attributed to improved semiconductor market conditions driven by expanding demand for AI memory.

Deepening Structural Weakness of KOSDAQ Approaching its 30th anniversary, the KOSDAQ has slipped back below the 1,000-point mark, and its share of the domestic stock market's total capitalization is rapidly shrinking. Improvement measures, such as the "promotion/relegation" system, are expected to be delayed until autumn.

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AI-Driven Investment Ideas

Continued Market Structure Focused on AI/Semiconductors The domestic market is currently in a bull run led by AI semiconductors, which continue to drive market gains. Despite profit-taking, the long-term structural strength is expected to persist.

Optimism for the Second Half According to a survey by Shinhan Securities, one in two investors expects the KOSPI to reach the 10,000-point era this year, with positive sentiment dominating the outlook for the second half of the year.

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Investment Cautions and Macro Context

Simultaneous Liquidation by Foreigners and Institutions The sharp drop on the 23rd saw foreign and institutional investors sell over 11 trillion won, which is being analyzed as reflecting concerns over a bubble in semiconductors and AI, going beyond simple profit-taking.

Continued Strong Performance of Asset Managers In Q1 2026, domestic asset managers recorded a net profit of 1.4664 trillion won, the highest quarterly figure in about three years. However, polarization is being observed as the performance gap between firms widens and the share of loss-making companies increases.

Failed MSCI Inclusion Again The Korean stock market has once again failed to be included in the MSCI Developed Markets Index, leaving the resolution of issues like restrictions on offshore won trading as an ongoing challenge.