KOSPI rises 2.24% to 5,859.08 points on institutional buying
Key Facts
South Korea’s KOSPI ended the November 2 session up 128.34 points, or 2.24%, at 5,859.08 points after opening down more than 1%, according to a Chosun Biz report. The index quickly pared its losses and then turned higher, briefly topping 5,900 points after gains exceeded 3% during trading. The rebound followed a 3.48% decline on October 30, when it closed at 5,730.74 points, according to Korea Exchange data cited by Aju Press. Institutional buying and share buybacks helped support the market, while foreign investors remained net sellers. The breadth of the advance showed that the recovery extended to the main board, where 653 stocks rose and 230 fell.
Institutions recorded net purchases of 1.4735 trillion won on the KOSPI market during the November 2 session, according to Chosun Biz. Net purchases by pension funds totaled 327.4 billion won, while funds linked to brokerage firms recorded net purchases of 766.0 billion won. Other companies were net buyers of shares worth 537.7 billion won. In the October 30 session, institutions were also net buyers, with net purchases of 742.6 billion won, while foreign investors were net sellers of 1.6173 trillion won and individuals were net buyers of 621 billion won, according to Aju Press. On November 2, foreigners remained net sellers, but the report described the volume of selling as limited and did not give a figure for individuals’ net trading on the KOSPI market.
Samsung Electronics and SK Hynix shares rose 1.78% and 3.81%, respectively, in the November 2 session, according to Chosun Biz. The gains came after a sell-off in U.S. technology stocks: the Nasdaq Composite fell 2.9% on October 30, and Intel shares dropped about 29% in their worst session since 1974, according to The Associated Press. An analyst at Daishin Securities said the KOSPI’s partial pricing-in of the shock from declines in U.S. chip stocks limited additional selling pressure. He added that Intel’s weak results were interpreted as a strain on computer manufacturing costs due to higher memory prices, not as a sign of collapsing demand for computers.
The KOSPI’s decline on October 30 was part of a broader sell-off in the South Korean market, with the index losing 206.92 points, or 3.48%, to close at 5,730.74 points, according to Aju Press, citing the Korea Exchange. In that session, foreign investors were net sellers of 1.6173 trillion won, while individuals recorded net purchases of 621 billion won and institutions net purchases of 742.6 billion won. Before the decline session, foreigners had been net sellers of 1.8262 trillion won on October 30, while individuals and institutions were net buyers of 871.3 billion won and 717 billion won, respectively, according to a Chosun Biz report. The report noted that some negative news had been priced in during the previous week. The index was also supported by flows believed to be from pension funds and share buybacks.
Han Ji-young, an analyst at Kiwoom Securities, said Friday’s decline was excessive and investors should prepare for further volatility amid important U.S. events in the middle of the week, according to Chosun. A Daishin analyst warned that continued foreign net selling remained a burden on the market. He said confirming a change in trend would require foreigners to turn to net buying semiconductor shares, and the KOSPI to regain its October 29 closing level of 5,938 points, followed by the 6,000-point level it recorded at the close on October 28. The U.S. Job Openings and Labor Turnover Survey report for September was scheduled for release on November 3, 2026, at 10:00 a.m. Eastern Time, according to the U.S. Bureau of Labor Statistics. The report is among the U.S. events Han cited as a factor that could keep volatility elevated during the week.