Seoul Stocks: KOSPI and KOSDAQ Daily — 2026-09-04
The KOSPI staged a rebound on Friday, September 4, reclaiming the 6,600 level as easing US Treasury yields and a rally in semiconductor stocks offset recent volatility. This recovery follows a turbulent week where foreign and institutional investors net sold 13.9 trillion won, driving the index down 4% to 6,562.72 earlier in the week. Meanwhile, the Value-up programme continues to gain traction with 756 listed companies disclosing plans.
Seoul Stocks: KOSPI and KOSDAQ Daily — 2026-09-04
Top developments
KOSPI Reclaims 6,600 Level on Semiconductor Rally
On Friday, September 4, the benchmark KOSPI closed higher, reclaiming the 6,600 mark as heavyweight chipmakers Samsung Electronics and SK Hynix led gains. The rise was supported by a pullback in US Treasury yields and a broader rally on Wall Street, which helped ease investor concerns about interest rates. Despite the daily gain, the index remained on track for its third consecutive weekly decline, reflecting the ongoing pressure from elevated global bond yields.
Foreign and Institutional Selling Hits 13.9 Trillion Won
Earlier in the week, on September 2, the KOSPI fell 3.99% to 6,562.72, driven by massive outflows from foreign and institutional investors. Since SK Hynix began share buybacks, these investor groups have net sold 13.9 trillion won, overwhelming the supportive buying from corporate buyback programs. This selling was exacerbated by surging US yields and rising oil prices, which triggered risk-off sentiment across Asian markets.
Value-up Disclosures Cover 87% of KOSPI Market Cap
The Korea Exchange announced that a total of 756 listed companies have filed Value-up plans as of early September. These disclosures cover 87.7% of the total market value of the KOSPI, marking significant progress in the government's initiative to boost corporate valuations. The widespread adoption suggests strong corporate commitment to shareholder return policies, which remains a key structural driver for the local market.
Retail Investors Net Sell 2.5 Trillion Won Amid Volatility
During the intraday swings of the week, retail investors significantly reduced their exposure, net selling approximately 2.5 trillion won in the KOSPI market. This retail exodus occurred even as Samsung Electronics and SK Hynix saw their share prices rise due to buyback expectations. The divergence between retail selling and institutional/corporate buying highlights the cautious sentiment among individual investors amid macroeconomic uncertainty.
Local view
Local financial media, including Financial News (FN News), highlighted the critical role of Samsung Electronics and SK Hynix buybacks in stabilizing the market when foreign investors pulled out. Analysts noted that while macro uncertainties have led investors to reduce stock allocations, the "safety valve" provided by major tech giants' buybacks has prevented more severe declines. The local consensus is that the market is currently trading on technical support levels provided by these corporate actions rather than fundamental bullishness.
Context & numbers
- KOSPI Close (Sep 4): Reclaimed 6,600 level after falling to 6,562.72 on Sep 2.
- Foreign/Institutional Net Selling: 13.9 trillion won since SK Hynix buyback announcement.
- Retail Net Selling: ~2.5 trillion won during the volatile week.
- Value-up Participation: 756 companies, covering 87.7% of KOSPI market cap.
- Won-Dollar Exchange Rate: Traded around 1,380 won in late August/early September, reflecting currency pressure alongside equity volatility.
On the radar
- US Treasury Yields: Continued monitoring of US bond yields is critical, as recent rebounds in the KOSPI were directly linked to yield pullbacks.
- Semiconductor Sector: Watch for continued momentum in Samsung Electronics and SK Hynix, which remain the primary drivers of the KOSPI's direction.
- Weekly Trend: Despite Friday's rebound, the KOSPI is heading for a third consecutive weekly loss, indicating persistent underlying weakness.
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