KOSDAQ Closes 4.48% Higher at 667.61 Points in Chip-Led Rebound

Key Facts

South Korea’s KOSDAQ closed 4.48% higher at 667.61 points on November 10, adding 28.64 points from the previous session, according to a report published by Chosun Biz that day. The rebound in the Korean market coincided with a 4.39% rise in the benchmark KOSPI to 5,239.13 points. Korean shares turned sharply higher after an earlier wave of selling, with semiconductor companies leading the move. A return of demand for chip stocks helped lift both indexes in a session that reflected improved risk appetite. But gains remained tempered by caution ahead of U.S. inflation data and CoreWeave’s results.

Samsung Electronics and SK Hynix led sector gains, rising 4.74% and 6.69%, respectively, during the session. Chosun Biz attributed part of the rebound to gains in U.S. semiconductor stocks, along with a decline in global oil prices. The report quoted an analyst as saying that buying after a recent drop and easing macroeconomic pressures also contributed to the recovery. The report said, "The rebound is attributable to gains in U.S. semiconductor stocks and falling global oil prices." The gains by the two companies highlight the role of Korean chip stocks in driving domestic indexes during the session. This came as investors renewed their appetite for semiconductor companies after a wave of selling hit the sector.

Trading data in the main market showed that foreign investors were net buyers of stocks worth 632.6 billion won, while institutions recorded net purchases of 745.4 billion won. By contrast, retail investors were net sellers of 1.8289 trillion won as the index rose. Other companies recorded net purchases of 455.5 billion won, the report said. The strong open was accompanied by a temporary curb on algorithmic buy orders: a buy-side trading halt was triggered on the KOSPI at 9:06 a.m., followed by the same measure on the KOSDAQ four minutes later. These flows show diverging investor behavior in the session, with institutions and foreign investors buying while individuals sold.

Asian shares advanced more broadly in trading on November 10, with the MSCI Asia-Pacific Index up about 2%, according to a report by Investing.com. The report said the KOSPI jumped 4.31% to 5,235.14 points, while Japan’s Nikkei 225 rose 2.8% to 60,398 points. Investors returned to chip stocks after Wall Street posted its biggest gain in about seven months, the report said. The Philadelphia Semiconductor Index also jumped nearly 7% in the Monday, November 9, session, as investors bought sector shares after the previous wave of selling. The report linked that selloff in part to concerns that Democratic gains in the U.S. midterm elections could lead to tighter regulation of the AI sector.

The selloff had weighed on Korean markets before the rebound: the KOSPI fell 5.3% on Thursday, November 5, during a global wave of selling in AI company shares, according to an Associated Press report. Against the backdrop of chip demand, Samsung said it expects demand for AI chips to accelerate through 2027, with demand exceeding supply as customers expand AI infrastructure. This underscores the importance of demand forecasts for chipmakers, while stock performance remains sensitive to concerns about the scale of infrastructure investment. Meanwhile, CoreWeave’s statement raised its fiscal 2026 revenue guidance to a range of $13.0–13.3 billion. The company also raised its adjusted operating income forecast to $1.275–1.375 billion and estimated annual capital expenditure at between $37 billion and $39 billion.

Still, U.S. factors capped gains in the Korean session, according to an analyst at Daishin Securities quoted by Chosun Biz. The analyst said U.S. October consumer price index data and CoreWeave’s results kept caution in place. The report added that uncertainty over AI investment and inflation concerns limited the breadth of the advance. The analyst said, "Caution remains in place ahead of the U.S. October consumer price index and CoreWeave’s results." These risks put sustained demand for chip stocks up against investor questions about inflation and AI-related spending.