US Market Analysis & Korean Market Daily Briefing — 2026-11-04

Overnight US Market Summary

A recap of major index movements, key economic indicators, and top-performing/losing sectors from the US market.

• Nasdaq Bounces Back on Resurgent AI Trades: On Tuesday, November 3, the Nasdaq Composite closed higher as investor sentiment toward major tech stocks recovered following recent sell-offs.
• Plunging Oil Prices & Easing Geopolitical Risks: Crude oil prices plummeted by about 7% as hopes for a diplomatic solution between the US and Iran raised expectations of a Middle East ceasefire, acting as a catalyst for risk-on sentiment across the market.
• Continued Mixed Performance in Major Indices: On Monday, November 2, tech sell-offs persisted, pushing the S&P 500 down 0.5% and the Nasdaq down 1.1%, while the Dow Jones Industrial Average gained 0.4% in a mixed trading session.
• Caution Ahead of US Midterm Election Results: Investors remained on the sidelines ahead of the US midterm election results, with bond yields rising and the US dollar strengthening on election day, November 3.

Key Themes and Issues in the Korean Market

Three main themes to watch in today's trading session.

• Semiconductor and AI Momentum: A rebound in the semiconductor sector is expected as the revival of US AI trades aligns with expectations of increased Korean semiconductor exports. In particular, the strength of US tech stocks is likely to positively impact domestic semiconductor blue chips.
• Value-Up and Share Buyback Theme: Highlighting that the KOSPI's price-to-earnings ratio (PER) sits around 5.4x, making it undervalued compared to major countries. Large-scale institutional buying and corporate share buybacks are acting as key drivers for the index rebound.
• Commodity and Interest Rate Volatility: Gold hitting extreme downward momentum (entering an RSI oversold zone) and rising US Treasury yields could trigger volatility in domestic commodity-related and financial sectors.

Featured Stocks to Watch Today

Key stocks related to the themes discussed above.

• SK hynix: A core stock leading the KOSPI rebound, driven by heavy institutional buying and corporate share buybacks. It is expected to benefit from improving semiconductor industry conditions and value-up policies.

• Apple (AAPL): Although its share price fell after confirming slowing growth in its earnings report yesterday, it is a stock expected to see a technical rebound driven by perceptions of an overdone drop if a recovery flow enters global tech stocks overall.

• Lumentum (LITE): A stock that moved alongside inflows into US tech stocks, representing an optical communication and semiconductor-related company benefiting from the revival of AI trades.

• Note: This briefing is for reference only, and investors are solely responsible for their investment decisions.