Global & Korea Equity Market Intelligence — 2026-04-26

Market Snapshot — By the Numbers

⚠️ Please verify exact figures via Yahoo Finance. Some data may be missing due to extraction from screenshots.

Korea Market Deep Dive

KOSPI

• Close: 6,475.81 (Flat, ~0%). Paused after three consecutive sessions of record highs.
• Foreign/Institutional Flows: Foreign investors net sold over 2.1 trillion KRW as investors sidelined themselves due to US-Iran uncertainty.
• Background: After hitting a record high on Wednesday, April 23, the KOSPI traded flat on Thursday, April 24, due to heavy foreign liquidation.

KOSDAQ

• Close: Crossed 1,200 — First time in 25 years since 2000.
• Leadership: Buying focused on small-to-mid-cap growth stocks in materials and IT.
• Background: Observing a shift as some profit-taking funds from KOSPI move into the KOSDAQ.

2 sources

koreatimes.co.kr

koreatimes.co.kr

koreatimes.co.kr

koreatimes.co.kr

Top Movers (Korea)

Gainers

• SK Hynix (000660) (Continued strength): Following record Q1 operating profit, Nomura raised the target price to 2.34 million KRW (+91.5% upside). Major global brokerages are now issuing target prices in the 2 million KRW range.
• Samsung Electronics (005930) (+3.22%, as of 4/23): Reached a 52-week high on earnings momentum, leading the KOSPI rally alongside SK Hynix.
• KOSDAQ Growth Stocks: Materials and IT-focused small-to-mid caps led the push past 1,200.

Losers

• KOSDAQ ETFs (e.g., KODEX KOSDAQ150) (-Net selling pressure): Retail investors net sold 231.1 billion KRW in KOSDAQ150 ETFs last week, rotating capital into KOSPI200 ETFs.
• Semiconductor Inverse ETFs: Retail investors placed 317 billion KRW (~230 million USD) in bets on inverse semiconductor ETFs, suggesting pressure for short-term profit-taking.
• Foreign Net Sell List: Heavy foreign selling of 2.1 trillion KRW exerted short-term downward pressure on large-cap stocks.

Sector Flows

• Semiconductors: Bullish. Samsung Electronics and SK Hynix are near all-time highs. AI memory demand remains the key driver. Intel’s earnings surprise provided a positive signal for the global semiconductor chain.
• Battery & EV: Data currently unavailable — individual stock moves need monitoring. Relatively lower attention compared to the semiconductor rally.
• Bio & Healthcare: Several bio stocks in the growth group that pushed the KOSDAQ to 1,200 are seeing gains.
• ETF Sector Rotation: Retail investors are shifting funds from KOSDAQ leverage ETFs to KOSPI200 ETFs, signaling a clear preference for blue-chip large caps.

Global Drivers Behind Today's Tape

• Intel (INTC) Earnings Surprise: Triggered strong buying across the semiconductor sector, pushing Nasdaq and S&P 500 to record highs.
• US-Iran Peace Negotiation Hopes: Easing tensions in the Strait of Hormuz led to lower oil prices and reduced demand for safe-haven assets.
• DOJ Ends Investigation into Fed Chair Powell: News that the investigation has been dropped eased concerns over Fed independence, acting positively for bonds and stocks.
• Street Sentiment: Charles Schwab noted that most indices hit record highs this week, with semiconductor earnings dominating investor demand.
• SK Hynix Target Price Hikes: Global brokerages, including Nomura at 2.34 million KRW, are targeting the 2 million KRW range, boosting expectations for foreign capital inflows.

Asia Read-Through

With the S&P 500 and Nasdaq hitting record highs, the Asian session is expected to open positively on Monday. The key for the Korean market is whether foreign investors continue their selling streak from last week or re-enter the market. The USD/KRW exchange rate and updates from US-Iran talks are the primary variables to watch, along with whether the KOSPI can reclaim the 6,500 level.

What to Watch Next

• Economic Indicators: US-Iran negotiation headlines (weekend to Monday), Korea’s April export estimates (early May), and US PCE inflation data.
• Earnings Calendar: Detailed Samsung Electronics earnings, ongoing big tech earnings season (Microsoft, Alphabet, etc.).
• Technical Levels: KOSPI's attempt to reclaim 6,500 (resistance), KOSDAQ's ability to hold above 1,200 (support).
• Macro Monitors: USD/KRW direction, WTI oil prices, US 10-year Treasury yields, and SK Hynix ADR trends.

Reader Action Items

• Domestic Retail Investors: Retail investors are moving from KOSDAQ ETFs to KOSPI200, which may be a defensive rotation against volatility. The heavy bet on semiconductor inverse ETFs (317 billion KRW) is a contrarian indicator worth watching for short-term overheating.
• Global Investors with Korea Exposure: The uniform upward revision of SK Hynix targets provides a solid rationale for foreign institutions to re-enter. Evaluate valuation attractiveness after the 2.1 trillion KRW sell-off, and consider the impact of KRW hedging on returns.
• Contrarian View: While the KOSDAQ broke 1,200, retail investors are selling the ETFs. Consensus is buying semiconductor-heavy large caps, but the impact of the semiconductor boom on social sectors—like record-high entrance requirements for semiconductor degree programs at top universities (Yonsei/Korea)—highlights how deeply embedded this cycle is. Watch for when this peak heat begins to cool.