October 22, 2026 Global & Domestic Market Briefing: KOSPI and KOSDAQ Plunge Just a Day After Rebound
The index tumbled 3.52% to close at 5,533.77 amid profit-taking after the prior session's rally and heavy institutional net selling (around 460 billion KRW). Large-cap semiconductor names led the downturn, with Samsung Electronics (-4.03%) and SK Hynix (-5.49%) both seeing sharp declines.
Weighed down by joint net selling from foreign and institutional investors, the index retreated to 764.10 (-3.62%) as top-cap secondary battery and semiconductor materials/parts/equipment names weakened sharply, with declining issues heavily outnumbering gainers.
Overnight, the Nasdaq advanced to 26,702.86 (+1.05%) supported by SpaceX turning profitable and an earnings surprise in its AI segment; however, caution following after-hours guidance from major tech firms prompted mixed sentiment across Asian futures.
In a volatile market marked by sharp swings, additional downside volatility may emerge driven by short-term profit-taking and upcoming global tech earnings, making conservative portfolio sizing more prudent than aggressive dip-buying.