KOSPI Extends the 6.63% Rally, Why Did KOSDAQ Fall Alone?

KOSPI rose 6.63% yesterday and climbed another notch to around 6,070 today.

This is the day after it closed above 6,000.

This data is as of October 29, 2026 14:30, and intraday figures are the values at the time of the headline reports.

Retail investors are sighing.

"KOSPI is rising again, so why is my KOSDAQ stock in the red?"

That was exactly the scene this morning.

KOSPI is climbing, while KOSDAQ is taking a breather.

Where KOSPI Stands Intraday

Oct 28 KOSPI close: 6,012.44 (+6.63%)

Oct 28 KOSDAQ close: 771.28 (+3.69%)

09:05 open: KOSPI flat-to-slightly-up around 6,010

09:40 intraday: KOSPI up over 1%, near 6,070

Foreigners: 160 billion won net bought at the open (09:05 report)

It is the day after a jump of more than 6%.

A pause would not be strange here.

Yet it pushed one more notch higher in the morning.

Net buying means more money came in than went out.

Why KOSPI and KOSDAQ Split Today

KOSPI is the market of large caps like Samsung Electronics and SK hynix.

KOSDAQ is the market with many small and mid-sized growth stocks.

The split comes down to where the money is flowing.

The 09:40 headline gives a clue.

"KOSPI rises on US chip strength, KOSDAQ dips slightly"

The 09:46 report is more specific.

SK hynix rose, while equipment stocks were mixed.

Even within the HBM theme, the temperature differs.

The leader is moving while the rest hesitate.

What Rose in the US?

IT and semiconductors: +1.70%

Consumer discretionary: +1.04%

Materials: +0.78%

Real estate: -0.84%

Consumer staples: -0.92%

Energy: -2.05%

Semiconductors led in the US too.

That warmth reached large domestic chip names first.

The 08:28 morning brief was titled "US rose, but profit-taking worries."

Rising does not feel entirely comfortable.

KOSPI Outlook: Why Everyone Watches Samsung Earnings and US Inflation

The 07:34 headline read "Samsung earnings and US inflation will decide KOSPI's direction."

The reason is simple.

Samsung earnings are the report card of KOSPI's flagship names.

US inflation is the number that signals the direction of interest rates.

Take a look at rates too.

FOMC held rates steady (08:12 report), and on the Polymarket prediction market, 80% sits on "no hold" after the December meeting.

Money leans toward rates being different from today in December.

You can check the schedule on the market calendar.

Up or Down, Where Things Stand

Pressing down

• Profit-taking worries: +6.63% yesterday, burden the day after a surge
• KOSDAQ: slight dip at 09:40, warmth not spreading
• HBM equipment stocks: mixed flow, temperature gap within the theme

Holding up

• Foreigners: 160 billion won net bought, buying edge at the open
• US IT and semis: +1.70%, chip warmth carried over
• Polymarket: 80% "no" on a December hold, policy change expected

I am checking whether KOSDAQ catches up with KOSPI this afternoon.

The key to KOSPI's direction comes down to Samsung earnings and US inflation.

Just treat this as reference.

PickStock 💡

※ Investment decisions and responsibility rest with the investor.
※ Figures are as of the time of writing and may change.
※ This article is for information only and is not investment advice.