KOSPI Drops 0.98% After Early Rally Above 5,500 Fades
Published on 11/13/2026 at 22:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKOSPI Gives Back Early Gains
- The KOSPI closed at 5,290.53 on Friday, November 13, down 0.98 percent, or 52.19 points.
- The index opened 2.05 percent higher and reached 5,504.44 before turning lower in the afternoon.
- Foreign selling and concerns about Nvidia leadership weighed on semiconductor shares and the wider market.
- Despite Friday's decline, the KOSPI gained 4.56 percent for the week.
South Korea's KOSPI surrendered its early gains on Friday, November 13, and closed at 5,290.53. The benchmark fell 52.20 points, or 0.98 percent, after opening 2.05 percent higher and reaching 5,504.44. Yonhap News Agency reported that the index moved into negative territory around 12:35 p.m. Seoul time.
Early Semiconductor Rally Reverses
Technology shares weakened as the session progressed. Samsung Electronics lost 0.96 percent and SK hynix fell 3.03 percent, while Samsung Electro-Mechanics declined 3.50 percent. Seoul Economic Daily said foreign investors sold a net 703.4 billion Korean won on the main board, while retail investors bought a net 180.2 billion won. The market's reversal followed an early advance led by semiconductor stocks.
Investor caution also reflected concerns about the potential effect of a leadership change at Nvidia on the artificial-intelligence ecosystem. Yonhap cited uncertainty surrounding the sector as a factor weighing on sentiment, while the Korean won was quoted at 1,336.7 won per US dollar at 3:30 p.m. Seoul time, according to the same report.
Weekly Gain Remains Intact
Friday's decline did not erase the week's recovery. Reuters reported that the KOSPI gained 4.56 percent over the week, recovering part of the 12 percent decline recorded in the previous week. The report also noted that foreign investors remained net buyers of KOSPI spot shares for a fourth consecutive day, highlighting the contrast between the week's overall recovery and the selling pressure seen during Friday's session.
Market Breadth Stays Mixed
Losses were concentrated among several large technology and growth companies. Naver dropped 5.12 percent, while Korea Electric Power fell 9.79 percent. Hyundai Motor rose 1.13 percent and KB Financial Group advanced 4.74 percent, providing support outside the technology complex. The KOSDAQ ended at 699.66, up 0.45 percent, but also gave back much of its intraday advance.
