KOSPI +0.10%, KOSDAQ -0.76% — Broad-Based Rally — Dongchun Korea Close 26/04/22

Hey, Dongchun here.

Here is how the Korean market closed today.

Today in 3 Lines
  • > 참고: KOSPI 종가는 복수 매체의 소폭 강보합(slightly higher) 보도 기반 추정치임. K
  • 외국인은 KOSPI가 6,400을 돌파하자마자 차익실현에 나섰다. 4월 전체 누적으로는 약 5.4조원 순매수
  • 주목 변수:

Previous post: Read it →

1. Korea Market Close

South Korea's KOSPI made history today, briefly touching 6,404.04 — an all-time intraday high — for the first time ever, before reversing course to close slightly above the previous day's record closing high of 6,388.47. The reversal was triggered by news that second-round U.S.-Iran ceasefire negotiations were delayed, prompting foreign investors and institutions to lock in gains at the 6,400 milestone. The KOSDAQ underperformed, falling roughly 0.76% to around 1,170, as tech and internet names saw profit-taking. Market breadth was mixed: 2nd-battery and defense/energy stocks outperformed on Iran-driven oil spike, while semiconductors and autos lagged. Samsung Electronics' record Q1 earnings of 57.2T won operating profit — a 755% year-over-year surge — were already priced in, with the stock finishing -0.68%. The close reinforces the ongoing bull trend but signals near-term consolidation around the historic 6,400 ceiling.

IndexCloseChangeVolume
KOSPI~6,395 (est.)~+0.10%Avg
KOSDAQ~1,170 (est.)~-0.76%Below avg

2. Foreign Flow Analysis

Foreign investors turned net sellers today, offloading approximately 247.2 billion KRW on the KOSPI — their first meaningful single-day sell in April after accumulating a net ~5.4 trillion KRW of Korean equities this month. The selling was concentrated in large-cap semiconductors (Samsung, SK Hynix) and autos (Hyundai), consistent with classic profit-taking at technical resistance. Institutions followed foreigners into the selling camp. Retail investors absorbed the selling, buying the dip in semiconductors ahead of SK Hynix's earnings tomorrow. Despite today's outflow, the April foreign buying trend remains intact, with foreigners concentrating 5.6T KRW in the electrical/electronics sector alone. U.S. overnight futures are modestly negative (-0.22% S&P, -0.31% Nasdaq), which may add slight pressure to Korea's open but is unlikely to derail the structural bull.

InvestorNet FlowKey Stocks
Foreigners~-247B KRWSold Samsung, SK Hynix, Hyundai
InstitutionsNet selling (est.)Took profits at 6,400
RetailNet buyingBought semiconductor dips

3. Sector Breakdown

The 2nd-battery sector led on Monday, with LG Energy Solution (+1.36%) benefiting from stable raw material costs and steady EV demand. Defense and energy-related names surged as Iran's closure of the Strait of Hormuz spiked crude oil, creating a risk-premium trade. Internet was flat-to-negative — NAVER held flat while Kakao slipped -1.02% in mild profit-taking. Semiconductors were the notable laggard despite Samsung's blockbuster earnings, with both Samsung (-0.68%) and SK Hynix (-0.08%) drifting lower on a "sell the news" dynamic ahead of SK Hynix's April 23 report. Auto names (Hyundai -0.92%) saw selling on concerns over Middle East supply chain risks.

SectorDirectionKey StockReason
2nd Battery▲ StrongLG Energy Solution +1.36%Stable materials, EV demand
Defense/Energy▲ StrongDefense namesIran Hormuz closure, oil spike
Semiconductors▼ WeakSamsung -0.68%Earnings already priced in
Autos▼ WeakHyundai -0.92%Iran supply chain concern
Internet▼ Slightly weakKakao -1.02%Mild profit-taking

4. Stocks on My Radar

My U.S. portfolio tickers today — prices confirmed from yfinance real-time data:

TickerPriceSession %Key Event
BMNR$21.71-3.64%ETH holdings at 4.8M tokens ($11.4B) announced; profit-taking followed
NVO$39.42-2.57%HIBISCUS Phase 3 success (Apr 20) digested; regulatory filing H2 2026
ZETA$17.81-1.87%Q1 2026 earnings due April 30; pre-result position lightening
ORCL$181.17+2.02%AI infrastructure demand narrative remains strong; Guggenheim reiterates Best Idea
SMR$11.67-8.76%Energy sector rotation to traditional energy on Iran oil spike; prior EPS miss
COIN$195.95-7.41%Risk-off on geopolitics; global regulatory headwinds (Philippines, Argentina)
LAES$2.96+0.68%Q1 revenue +200% YoY; post-quantum cryptography momentum intact
ASTS$80.01-1.22%BlueBird 7 de-orbit shock (Apr 20) being absorbed; selling pressure easing

ORCL was the standout gainer — Oracle's AI cloud narrative continues to drive multiple expansion. SMR and COIN were the biggest losers, both hit by today's geopolitical risk-off wave triggered by Iran's Hormuz closure. ASTS has stabilized somewhat after the BlueBird 7 shock on April 20. NVO's HIBISCUS Phase 3 data (27% VOC reduction, 48.7% vs 7.2% Hb response) was genuinely strong and positions etavopivat for H2 2026 regulatory submission — the stock is digesting the catalyst.

5. Tomorrow's Korea Open

U.S. futures are mildly negative tonight — S&P futures -0.22% and Nasdaq futures -0.31% — suggesting Korea may open flat to slightly lower tomorrow. However, the single most important variable is SK Hynix's Q1 2026 earnings release at 3:00 PM KST on April 23, with consensus at 34.9T won and some banks forecasting 40T+ won, which would represent an operating margin above 70% — higher than TSMC — a historic milestone. ServiceNow (NOW) reports after U.S. close tonight; a beat would reinforce AI infrastructure demand that benefits Samsung and SK Hynix. Iran ceasefire talks are the macro wildcard — renewed progress would compress the oil risk premium and boost tech/auto sentiment, while prolonged stalemate would sustain today's defensive rotation. VIX at 18.87 confirms this is not a panic environment. Bull scenario: SK Hynix 40T+ surprise + Iran talks progress → KOSPI pushes above 6,404 toward 6,430+. Bear scenario: SK Hynix misses or guides cautiously + Iran escalation → KOSPI tests 6,340 support. The single most important variable to watch before Korea's open is the ServiceNow after-hours result and any late-night Iran diplomacy headline.

IndicatorLevelSignal
Nasdaq Futures-0.31%Mildly bearish
S&P Futures-0.22%Mildly bearish
VIX18.87Stable (not panic)
ServiceNow (NOW)After-hoursAI demand bellwether
Iran Strait of HormuzClosedKey geopolitical risk
SK Hynix EarningsApr 23 3PM KSTDominant local catalyst

Base case: Korea opens marginally lower (-0.1% to -0.3%) on US futures drag, then pivots on SK Hynix earnings. If SK Hynix delivers a beat, expect a sharp afternoon rally. For new investors seeking Korea exposure, EWY (iShares MSCI South Korea ETF) or Samsung Electronics GDR (KRX: 005930) are the benchmark instruments to watch.

Bottom line: Watch US futures and overnight macro for the Korea open signal tomorrow.

That's the PM breakdown for April 22. Trade safe.

Sources

Comments

Post a Comment

Popular posts from this blog

KOSPI -0.55%, KOSDAQ +0.61% — KOSDAQ Holds, KOSPI Slips — Dongchun Korea Close 26/04/20

Hey, Dongchun here. Here is how the Korean market closed today. Today in 3 Lines KOSPI fell 0.55% as foreigners dumped 2.2 trillion KRW in heavy selling Iran reversed Hormuz reopening; risk-off reignited mid-session Futures down 0.6%; SK Hynix earnings April 23 is the week's key catalyst Previous post: Read it → 1. Korea Market Close KOSPI closed at 6,196.92, down 34.13 points (-0.55%) on Monday April 20, breaking below the psychologically important 6,200 level. The index opened at 6,213.92 (+0.36%) and briefly surged to an intraday high near 6,228, before foreign selling pressure drove the index lower in afternoon trading. KOSDAQ bucked the trend, closing at 1,170.04, up 7.07 points (+0.61%), supported by domestic retail and institutional buying. The divergence between KOSPI and KOSDAQ suggests that foreign selling was concentrated in large-cap KOSPI names rather than the broader market. Today's close compares to the previous Friday (April 18) close of approximately 6,2...
Read more

KOSPI Up, KOSDAQ Lags: KOSPI +4.32%, KOSDAQ -0.03% — Korea Close & Tomorrow Outlook 26/05/11

Hey, Dongchun here. Here is how the Korean market closed today. DONGCHUN'S TAKE The only thing that matters today is that KOSPI printed a new record at 7,822 even as foreigners dumped roughly 3 trillion KRW. Retail and institutions absorbed the entire foreign block, with all the upside concentrated in two semiconductor names while KOSDAQ went nowhere. Watch tonight's US tape — if Nasdaq futures stay flat or red, expect profit-taking pressure at the open, and the SK Hynix/Samsung response will tell you whether the rally still has fuel. Previous post: Read it → 1. Korea Market Close KOSPI closed at 7,822.24, up +4.32% (+324.24pt), printing the first-ever close above 7,800 and a fresh all-time high. KOSDAQ finished flat at 1,207.34 ( -0.03% ), a striking divergence that signals this rally was a mega-cap event, not breadth. The single biggest driver was the spillover from a +5.51% SOX move overnight, which detonated Samsung Electronics ( +6.33% ) and SK Hynix ( +11.51% )....
Read more

[Dongchun Weekly] April Week 3 — Hormuz Opened, Nasdaq Logged 13 Straight, Then the Weekend Talks Collapsed

[Dongchun Weekly] April Week 3 — Hormuz, Nasdaq 13-Day Streak, and a Weekend Cliffhanger Hey, Dongchun here. Here is how the week went. 1. The Week in Numbers This week was as close to a perfect risk-on environment as markets get. Nasdaq posted 13 consecutive gains — its longest winning streak since 1992 — while the S&P 500 crossed 7,100 for the first time in history and closed at 7,117. The single biggest driver was Iran declaring the Strait of Hormuz open to all commercial vessels on Thursday April 17, sending WTI crude crashing -14.5% for the week and triggering simultaneous new all-time highs across every major US index. The breadth was genuinely healthy: Russell 2000 small-caps rallied +4.0% to a new all-time high, which confirms this was market-wide participation rather than a mega-cap concentration trade. Korea outperformed the US by a wide margin — KOSPI +6.6% vs S&P +3.4% — reflecting cheap valuation after March's heavy foreign selloff combined with...
Read more