The KOSPI, which opened higher on the 27th, is down 1% intraday amid heavy foreign selling.
As of 11:20 a.m., the KOSPI was trading at 6,641.23, down 49.39 points, or 0.74%, from the previous session. After opening up nearly 2% at 6,806.27, the index reversed lower intraday and is trading around the 6,600 level.
Foreign investors are dragging the index down with a net sell of 1.68 trillion won. Individuals and institutions are net buying 1.52 trillion won and 122.5 billion won, respectively, but it is not enough.
At the "San Francisco AI Summit" held on the weekend, domestic corporations including Samsung Group, SK Group, Hyundai Motor Group, and Naver, and global AI companies such as Nvidia, OpenAI, Broadcom, and Anthropic announced in succession large-scale investment and supply chain cooperation plans, but investor sentiment has been slow to recover.
Samsung Electronics agreed with Broadcom to pursue semiconductor supply and foundry cooperation worth $200 billion over the next five years, and SK hynix decided to proceed with long-term semiconductor supply cooperation worth $750 billion with global big tech companies including Nvidia.
Naver secured about $10 billion in AI infrastructure investment from Nvidia and Brookfield Asset Management, and SK Telecom signed a memorandum of understanding (MOU) with Anthropic to build an AI data center.
SK hynix(000660) and Samsung Electronics are each down nearly 1%. 네이버, on news of Nvidia's $1 trillion paid-in capital increase, is up 9%.
At the same time, the KOSDAQ was up 2%, breaking above the 760 level. Institutions are lifting the index with a net buy of 170 billion won. Individuals and foreigners are net selling 141.4 billion won and 27.6 billion won, respectively. Most of the top market-cap stocks, including Alteogen(196170), are strong.