The KOSPI opened lower on the 27th. With tech stocks weakening as the Nasdaq in the United States fell more than 1% overnight after Nvidia released an "earnings surprise" (results above expectations), and given that the KOSPI has surged 800 points over the past six sessions, the move is seen as profit-taking.
However, as the market undergoes a correction, a large influx of retail funds is narrowing the losses. Foreign investors are net selling more than 1 trillion won in early trading, but individuals are net buying close to 1 trillion won.
On this day, the KOSPI started trading at 6,197.49, down 109.78 points (1.74%). Most of the top-cap stocks are falling. As of 9:15 a.m., the KOSPI's decline had narrowed to around 0.5%. As the drop eases, a rebound looks possible.
U.S. stock losses the previous day slightly dented investor sentiment. The Dow Jones closed marginally higher, but the Nasdaq fell 1.18%, and the S&P 500 also declined.
Nvidia shares, in particular, fell. Although Nvidia's results confirmed a supercycle in the semiconductor industry, some voiced concerns that growth in the artificial intelligence (AI) sector Nvidia has built could slow.
At 26th morning Korea time, Nvidia reported results that beat analysts' expectations. Fourth-quarter (Nov. 2025–Jan. 2026) revenue came in at about 98 trillion won, a record high and above consensus. Adjusted earnings per share (EPS) were $1.62, topping the $1.53 estimate from U.S. investment banks.
Conditions in the U.S. market appear to be providing an excuse for profit-taking in Korea's market. Samsung Electronics and SK hynix, which hit record highs the previous day, are declining. By contrast, nuclear power–related stocks are strong. Korea Electric Power Corporation, Hyundai Engineering & Construction, and Doosan Enerbility are among the gainers. HANMI Semiconductor is also rising sharply.
Foreign selling is continuing on the main board. In early trading, foreigners are already net sellers of more than 1 trillion won. While pension funds are modest net buyers, a large amount of retail money is flowing in.
Although the KOSPI has shown an exceptional rally—after first topping 4,000 last year, it has gone on to break through 5,000 and 6,000 this year—expectations remain high for further gains.
The KOSDAQ also opened lower but is attempting a rebound around the flat line. As of 9:15 a.m., it had reclaimed the 1,190 level.