Kospi Opens Lower Under Pressure as Samsung Electronics Drops Over 1%; SK Hynix Surges More Than 2% as Kioxia and SoftBank Follow
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On October 26 Asian time, Japanese and South Korean stock markets opened lower under mounting pressure. The KOSPI declined 0.9%, featuring divergence in chip stocks as Samsung dropped 1.16% while SK Hynix surged 2.58%. Meanwhile, the Nikkei 225 recovered to a 0.2% gain, supported by increases in Kioxia and SoftBank. Market caution stems from upcoming U.S. big tech earnings and the Federal Reserve's October FOMC rate decision. Anticipation of hawkish monetary policy and heavyweight earnings releases has prompted capital to reduce leverage, resulting in widespread de-risking and capital outflows across global risk assets.
TradingKey - KOSPI comes under pressure to open and trade lower; Samsung drops over 1%, SK Hynix surges over 2%, while Kioxia and SoftBank follow the gains.
On October 26 Asian time, both Japanese and South Korean stock markets came under pressure and opened lower in early trading. The KOSPI opened 0.9% lower, temporarily trading at 7,163.48 points; the two core tech chip stocks diverged, with Samsung Electronics opening significantly lower, dropping 1.16% to 213,000 KRW, while SK Hynix rose 2.58% to 1,310,000 KRW.
KOSPI index chart, source: TradingView
The Nikkei 225 index also opened lower and moved lower, but subsequently strengthened to turn from a loss to a 0.2% gain, temporarily standing at 62,817.34; Kioxia rose 1.2% to 12,895 JPY, and SoftBank gained 1.22% to 4,328 JPY.
This week (October 26–30) is big tech earnings week for U.S. stocks, with giants such as Google (GOOG), Microsoft (MSFT), and Amazon (AMZN) releasing financial results in dense succession. Capital has chosen to scale back leverage and wait on the sidelines before these heavyweight earnings land. In addition, the Federal Reserve's October FOMC interest rate decision meeting is coming up this week. Under hawkish rate prospects, global risk assets generally face capital outflows and de-risking pressure.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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