Seoul Stocks: KOSPI and KOSDAQ Daily — 2026-09-26
Seoul's benchmark fought to hold the 7,000 mark into the Chuseok holiday, with chip heavyweights carrying the index while foreign investors largely stayed on the sidelines. Samsung Electronics surged on record chip export data, and institutions accumulated 4.71 trillion won of KOSPI shares ahead of the four-day break. Attention now shifts to the U.S. PCE print and Micron's outlook as catalysts for the post-holiday session.
Seoul Stocks: KOSPI and KOSDAQ Daily — 2026-09-26
Top developments
KOSPI defends 7,000 into Chuseok after Monday's reclaim
The KOSPI regained 7,000 on Monday (September 21) for the first time in seven sessions, driven by a sharp jump in Samsung Electronics shares on record chip export data. On Wednesday, the index narrowly defended 7,000 as gains in Samsung Electronics and SK hynix offset heavy retail and foreign selling. The bar keeps being tested: a 2% jump evaporated within the week, showing how contested the 7,000 level remains.
Before the holiday close: 7,080.92, Samsung up over 3%
The KOSPI closed at 7,080.92, up 0.90%, its fourth straight gain, led by Samsung Electronics (up over 3%) and SK hynix before the four-day Chuseok break. Institutions led the buying, though retail and foreign selling created sharp divergence across individual stocks. KOSDAQ rose 1.21% the same day.
Institutions bought 4.71 trillion won of KOSPI before Chuseok
Institutions net-bought 4.71 trillion won of KOSPI shares over six sessions ahead of the holiday, concentrated in Samsung Electronics and SK hynix — the buying that cushioned the market through a choppy stretch. Foreigners, by contrast, had turned net sellers in several sessions, trimming AI-fueled gains even as foreigners bought into Monday's rally.
Buyback support fades as Samsung and SK hynix programs wind down
Samsung Electronics and SK hynix are in the final stages of their own share buybacks, raising concerns about a liquidity gap in the KOSPI, Chosun Ilbo reported. Other-corporate buying had defended the market so far, but after the programs end, foreign investors become the key variable for supply. This matters directly for the index's ability to stay above 7,000 once holiday trading resumes.
Retail money rotates into U.S. short-term bond ETFs
With the KOSPI hovering around 7,000, Korean investors' top overseas net buy in September was the U.S. ultra-short Treasury ETF SGOV, at $241.86 million — a defensive signal from retail. A stronger won is also splitting Q3 earnings expectations, benefiting import-dependent sectors while headwinds hit exporters outside chips.
Local view
Korean-language media are focused on the post-Chuseok outlook. Seoul Shinmun highlighted the four-day winning streak to 7,080.92 anchored by Samsung's 3%-plus strength but flagged divergence under retail/foreign selling. Chosun Ilbo is sounding caution about the buyback hole in KOSPI supply once Samsung and SK hynix programs end. ChosunBiz sees the U.S. PCE print and Micron's outlook as the next steering factors for semiconductors and foreign flows.
Context & numbers
- KOSPI close before the holiday: 7,080.92 (+0.90%), fourth straight gain
- KOSDAQ on the same day: +1.21%
- Institutional pre-holiday net buying: 4.71 trillion won over six sessions, led by Samsung Electronics and SK hynix
- Samsung Electronics closed at 286,500 won ahead of the holiday, per Daishin Securities data cited by Seoul Economic Daily
- SGOV topped Korean investors' September overseas net buying at $241.86 million
On the radar
- U.S. PCE data and Micron's outlook are the immediate catalysts analysts expect to steer chips and foreign flows into the post-holiday session.
- History favors the bulls after Chuseok: the KOSPI rose after 15 of 22 holidays since 2004 (Daishin Securities), and Samsung's 300,000-won round-number level is being watched.
- Chuseok's geopolitical backdrop could keep the market choppy even if the seasonal pattern holds.
- End of Samsung and SK hynix buyback programs leaves foreign investor behavior as the key supply variable.
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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