KOSPI Slips 0.98% Amid Foreign Selling in Electrical & Electronic Shares; Construction and Securities Sectors Show Strength
KOSDAQ Rebounds 0.45% to Approach 700 Mark; Selective Strength in Semiconductor and AI-Related Stocks
On November 13, South Korea's benchmark stock indices showed diverging trends. The KOSPI fell below the 5,300 threshold as foreign selling expanded, primarily targeting the electrical and electronics sectors. Conversely, the KOSDAQ rebounded after a single session, supported by institutional buying. Amid sector-specific differentiation, stocks benefiting from strong third-quarter earnings, new orders, and favorable news regarding new business ventures showed notable strength.
According to the Korea Exchange (KRX), the KOSPI closed down 52.20 points (0.98%) at 5,290.53. The KOSDAQ finished 3.13 points (0.45%) higher at 699.66. The won-dollar exchange rate closed daytime trading at 1,336.7 won, up 6.0 won from the previous session.
The KOSPI opened higher despite overnight weakness in overseas markets but turned downward as foreign selling emerged, centered on electrical and electronic shares. The market declined for the second consecutive session, displaying divergence as securities and construction sectors held firm.
By sector, electric and gas utilities dropped 7.7%, electrical and electronics fell 1.8%, metals declined 1.7%, and IT services lost 1.2%. Large-cap stocks fell 1.0% and mid-cap stocks dipped 0.3%, while small-cap issues closed flat.
In supply and demand, foreign investors net sold 547.5 billion won, while institutional and retail investors net bought 2.0 billion won and 17.5 billion won, respectively. Foreigners offloaded 507.3 billion won in electrical and electronics, 62.7 billion won in transport equipment and parts, and 52.7 billion won in electric and gas utilities.
The KOSDAQ rose within a single day as institutional buying flowed mainly into electrical, electronic, and machinery equipment shares. By sector, non-metals gained 5.5%, transport equipment and parts rose 2.1%, and machinery equipment advanced 1.9%. Institutions net bought 126.2 billion won, while foreign and retail investors net sold 75.2 billion won and 56.3 billion won, respectively.
Selective Strength in Semiconductor and AI-Related Shares Driven by New Business Expectations
System semiconductor design stocks rallied on the government's On-Device AI semiconductor promotion plan and expectations of corporate earnings improvements.
Openedges Technology hit the daily upward limit, surging 29.87% following the government's announcement of the 'K-On-Device AI Semiconductor' technology development roadmap.
Telechips rose 5.45% on news of sustaining operating profits for four consecutive quarters.
Alpha Chips climbed 6.08% after posting a record quarterly revenue of 32.1 billion won in the third quarter, up 27.3% year-on-year, while Coasia advanced 11.80% on highlighted profitability improvements at its semiconductor design subsidiary.
ASICland gained 9.40% on growing expectations of benefits from expanding overseas application-specific integrated circuit (ASIC) design orders and the growth of the AI semiconductor market.
ISC rose 5.23% on news of the groundbreaking for its 'Songdo Fab', a next-generation AI semiconductor test socket production facility, and Isu Petasys gained 5.23% on expectations of surging demand for high-layer printed circuit boards (PCBs) used in AI servers and data centers.
FourByFour jumped 22.39% following an announcement previewing a new plugin for its AI video quality enhancement solution, 'AI PIXELL'.
Individual Stocks Rally on Earnings, Orders, and Management Changes
Kumho E&C hit the daily price ceiling, surging 29.90% on strong third-quarter earnings and large-scale new order wins.
Iljin Electric rose 4.42% on solid third-quarter results, and KBI Metal spiked 24.66% after reporting that its cumulative third-quarter earnings surpassed last year's annual figures.
Genians extended gains driven by its strong third-quarter earnings announcement, rising 9.41%, while Lunit climbed 9.48% as revenue growth and cost efficiencies helped narrow its operating losses.
Vibe Company hit the upper limit, surging 29.95% following a management transfer contract involving a change of its largest shareholder and a decision for a third-party allotment capital increase.
Abclon rose 5.03% on news of the European foundational technology patent registration for its blood cancer treatment candidate, 'Nesfecel (AT101)'.
Conversely, Korea Electric Power Corporation (KEPCO) plummeted 9.79% after posting a sharp decline in third-quarter operating profit. Profitability deteriorated due to rising fuel and power purchase costs, falling significantly short of market expectations and weighing heavily on sentiment.
