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KOSPI Defends 7,000 Despite KRW 2.48 Trillion of Foreign Selling

작성자:K jumma 마지막 수정일:

KOSPI fell as low as 6,898.45 but recovered to close at 7,033.92, down just 0.25%. The modest headline decline concealed a forceful change in positioning. Foreign investors sold KRW 2.482 trillion of KOSPI cash equities and KRW 1.947 trillion of KOSPI 200 futures. Other corporations bought KRW 1.667 trillion, while institutions and individuals absorbed KRW 433.4 billion and KRW 380.1 billion. The 7,000 floor was defended mainly by corporate demand, including buybacks, rather than a return of global risk appetite.

KOSDAQ’s rebound was institution-driven

KOSDAQ closed at 836.92, up 0.79%, after reversing from 813.66. Domestic institutions purchased KRW 1.349 trillion, offsetting foreign selling of KRW 1.076 trillion and individual selling of KRW 269.8 billion. JUSUNG Engineering rose 7.02% and EcoPro BM gained 3.31%, but Wonik IPS fell 1.08% and EO Technics dropped 3.19%. This was not a uniform re-rating of high-beta shares.

Breadth confirms the distinction. KOSPI had 419 advancers and 443 decliners. KOSDAQ’s 827 advancers narrowly exceeded 796 decliners. Strength was selective and concentrated around institutional flows, index events and company-specific catalysts.

TSMC’s record month met a Korean index rebalance

TSMC reported August revenue of TWD 514.806 billion, up 53.3% year over year and a new monthly record. Korean equipment shares also benefited from the scheduled KRX semiconductor-index rebalance. Reduced weights for Samsung Electronics and SK hynix created the opposite flow into Hanmi Semiconductor and JUSUNG Engineering.

Samsung Electronics and SK hynix still closed 0.19% and 0.16% lower, although both erased most of intraday declines of more than 2%. The cleaner test comes after the one-off rebalance flow disappears.

Oil above $100 created winners and a macro cost

Brent settled at $101.21 a barrel, up 3.36%, as renewed U.S.-Iran conflict raised concern about supply through the Strait of Hormuz. HeungGu Oil, Korea Petroleum Industries and Joong Ang Enervis rallied sharply. Yet their leadership was a hedge against a macro shock. Higher energy costs pressure transport, chemicals and consumers, while USD/KRW rose 3.1 won to 1,339.2.

Sempio showed the value of executed capital returns

Sempio hit the daily limit after approving the cancellation of 860,332 treasury shares, equal to 29.92% of shares outstanding. Sempio Foods also closed at the limit. Unlike a narrative-only rally, the catalyst changes the denominator for each remaining share. The move echoed the broader support from other-corporate KOSPI purchases.

Insurance rose 1.64%, with Samsung Life up 1.98%. Well-capitalized, low-PBR insurers served as a defensive pocket as oil and global yields increased. Investors paired selective semiconductor exposure with balance-sheet and shareholder-return protection.

KSI view: the floor held, but foreigners have not returned

The closing picture looks resilient, but foreign selling in KOSPI cash, futures and non-arbitrage program trading all pointed in the same direction. Corporate buybacks and institutional demand prevented a larger index loss. That structure can strengthen the downside floor, but strong upside momentum is unlikely without a turn in foreign positioning.

The next session should be judged by U.S. August CPI’s effect on Treasury yields and the dollar, whether Brent holds above $100, and whether semiconductor-equipment buying survives the KRX rebalance. If institutional KOSDAQ demand broadens into earnings-backed names while foreign futures selling fades, today’s rebound can extend. If oil and yields rise together, KOSPI 7,000 will face another test with corporate buying carrying most of the burden.

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