Market Briefing — 2026-06-10
Following the "Black Monday" on the 8th where the KOSPI plunged over 8% to the 7,400 level, the market saw a 3-4% rebound on the 9th, yet intense volatility persists. Foreign capital flight, driven by the impending SpaceX IPO, remains a major weight on the domestic market.
Market Briefing — 2026-06-10
Key Market Issues
1. Foreign selling intensifies ahead of SpaceX IPO With the SpaceX IPO—touted as the largest in history—set to hit the Nasdaq in one day, foreign investors are aggressively selling domestic stocks to secure liquidity. This marks 22 consecutive trading days of net selling by foreigners, placing heavy pressure on the local market.
2. High volatility continues after "Black Monday" On the 8th, the KOSPI plummeted 8.29% to 7,484.41, triggering a circuit breaker. While there was a 3-4% sharp rebound on the 9th, the market remains shaky. Both sell-side and buy-side sidecars have been triggered during intraday trading as volatility spikes.
3. Semiconductor drop and global uncertainty The slump in U.S. semiconductor stocks (e.g., Broadcom) has spilled over into the local market. Daishin Securities noted that multiple factors, including U.S. May CPI, Oracle’s earnings, and the domestic futures and options expiration date, are fueling market uncertainty.
Trending Sectors and Notable Stocks
1. Focus on KOSPI 7,500 defense The market is watching the 7,500 level as a critical support line. Kiwoom Securities analysts suggest that after the initial shock from the U.S. market’s Friday plunge, investors should monitor for a potential recovery in late June.
2. Few stocks showing gains Only 42 out of 948 KOSPI-listed stocks closed in the green. While some large-caps like Samsung Electronics and Nix rose by 3-6%, the broader market, especially tech and semiconductors, saw heavy losses.
3. Retail investors acting as the sole buyers Amid constant foreign selling, retail investors are single-handedly supporting the market. Their buying power is acting as a pillar of support while institutions and foreigners continue to dump shares.
4. VIX at record highs The volatility index (VIX) has surged to historic levels since "Black Monday," reflecting extreme investor anxiety and heightened market caution.
Macro Context
1. Surge in KRW/USD exchange rate The dollar is strengthening due to expectations of U.S. rate hikes and uncertainty surrounding the end of the Middle East conflict. This surge is increasing cost burdens for import-related companies.
2. Fear of U.S. rate hikes The market is reacting sensitively to signals of U.S. rate hikes. Changes in the global interest rate environment are acting as a primary drag on the domestic market, keeping fears alive.
3. President Lee Jae-myung’s positive market outlook In his one-year anniversary press conference, President Lee Jae-myung cited the KOSPI crossing the 8,000 mark last year as a key achievement, stating that the market is "still undervalued" and its fundamentals remain healthy. Nevertheless, the market remains highly sensitive to global instability.
This report is based on research data; all investment decisions remain the responsibility of the individual investor.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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