Samsung Electronics and SK hynix Slide Together, Dragging KOSPI Down Over 1% to the 5,550 Level [FN Morning Market Briefing]

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[The Financial News] The Korea Composite Stock Price Index (KOSPI) extended its losses on the morning of the 26th as foreign investors carried out large-scale net selling, pushing the index down to the 5,550 range. Samsung Electronics and SK hynix are falling 3–4%, adding downward pressure on the benchmark.
As of 10:30 a.m. that day, the KOSPI was at 5,553.22, down 1.58% from the previous session. The index opened at 5,594.06, 0.85% lower than the previous close, and has since deepened its decline.
By investor type, foreign investors are net sellers of around 1.3 trillion won in the Stock Market Division of the Korea Exchange, weighing on the index. Retail investors and institutions are net buyers of about 1.1 trillion won and 13.6 billion won, respectively, attempting to support the market.
Overnight, the U.S. New York stock market finished higher across the board. On expectations of negotiations between the United States of America (U.S.) and the Islamic Republic of Iran, the Dow Jones Industrial Average (DJIA) rose 0.66% to close at 46,429.49. The Standard & Poor's 500 Index (S&P 500) and the NASDAQ Composite Index also gained 0.54% and 0.77%, ending the session at 6,591.90 and 21,929.83, respectively.
Major large-cap stocks in the domestic market are broadly weaker. Samsung Electronics (-3.17%) and SK hynix (-3.92%) are sliding together, while Hyundai Motor Company (-1.20%), LG Energy Solution (-1.90%) and SK Square (-5.29%) are also extending losses. In contrast, Hanwha Ocean (2.97%), KB Financial Group (1.67%) and Shinhan Financial Group (1.63%) are trading higher.
By sector, paper and wood (3.42%), telecommunications (1.45%), and entertainment and culture (1.20%) are showing strength. Insurance (-3.56%), electrical and electronics (-2.99%), and construction (-2.63%), however, are under pressure.
At the same time, KOSDAQ (Korea Securities Dealers Automated Quotations) was at 1,161.73, up 0.19% from the previous session. KOSDAQ opened 0.01% higher at 1,159.61 and remains slightly firmer. In the KOSDAQ market, foreign investors and institutions are net sellers of 154 billion won and 56.8 billion won, respectively, while retail investors are net buyers of 255.4 billion won. Among KOSDAQ large caps, Samchundang Pharm and Alteogen are both strong, rising about 4% and 8%, respectively.
elikim@fnnews.com Kim Mi-hee Reporter