Kai Research

📌 One-Line Summary Strong US tech leadership overnight — Nasdaq surged +1.19% — is expected to support another upside attempt by the KOSPI, which broke above the 8,000 level (8,047, +2.55% ) in the prior session. However, the high won/dollar rate above 1,500 and profit-taking appetite after the sharp run-up may keep the market in a consolidation mode. 🌙 Overnight Markets US equities extended a tech-led rally overnight. The Nasdaq Composite climbed to around 26,656, reaffirming optimism toward AI and semiconductor demand, while the S&P 500 also closed higher. The Dow, however, slipped modestly, highlighting a divergence between large-cap value and growth names. Index Close Change S&P 500 7,519.12 +0.61% Nasdaq 26,656.18 +1.19% Dow Jones 50,461.68 -0.23% The AI- and semiconductor-driven risk-on mood creates a favorable backdrop for Korea's large-cap chip and tech names. Since the KOSPI opened the "8,000 era" at 8,047 ( +2.55% ) in the prior session — ...

📌 One-Line Summary With Samsung Electronics' labor agreement, a broad-based US rally, and rising expectations for a US-Iran ceasefire converging, the KOSPI is expected to open strong and attempt to settle above the 8,000 level on the first trading session after the holiday. However, the elevated USD/KRW around 1,517 and 11 straight sessions of foreign net selling remain key variables to watch. Welcome to the Korea Stock Market morning preview for Tuesday, May 26, 2026. Yesterday (5/25) was a substitute public holiday for Buddha's Birthday, so the domestic market was closed, and today marks the first trading session after the break. On the prior trading day, last Friday (5/22), the KOSPI closed at 7,847.71 ( +0.41% ) and the KOSDAQ at 1,161.13 ( +4.99% ), both finishing firmly higher. With US markets also setting fresh record highs during the holiday, positive catalysts have accumulated. The question is whether the Korean market can carry this momentum forward today. 🌙 Overnig...

📌 Next Week Outlook Summary After a sharp sell-off followed by a dramatic V-shaped rebound, the KOSPI is set to attempt reclaiming and holding the 8,000 level next week (May 25–29). The US Core PCE price index and preliminary GDP due on May 28, along with the possibility of a Samsung Electronics strike, are flagged as the key variables that will determine market direction. Last week, Korean equities delivered a roller-coaster ride before closing the week with strong upward momentum. The KOSPI was pushed down to the 7,053 area early in the week amid a sharp correction, but staged a stunning V-shaped rebound — surging +8.42% in a single session on May 21. With a supportive overseas backdrop, investor attention next week will center on whether the KOSPI can firmly settle above the 8,000 mark. In this weekly preview, we review last week's market action, global trends, themes to watch, and the upcoming economic calendar. 📊 Last Week Market Summary (May 18–22) Both the KOSPI and KOSDAQ...

📌 One-Line Summary Following yesterday's KOSPI +8.42% surge, today's session is expected to see a tug-of-war between profit-taking and chase-buying. Market participants are watching whether Nvidia-driven AI semiconductor momentum can persist despite lingering pressure from the won/dollar exchange rate above 1,500. 🌙 Overnight Markets U.S. markets closed mixed-to-firm overnight, with all three major indices posting modest gains as risk-on sentiment persisted. AI semiconductor names attracted buying flows after Nvidia's strong earnings report, while progress on U.S.-Iran ceasefire negotiations continued to support risk assets. However, given that Korean equities already staged a near 8% rally in the prior session, the muted close on Wall Street may provide only limited additional upside momentum for KOSPI today. Index Close Change S&P 500 7,445.72 +0.17% NASDAQ 26,293.10 +0.09% Dow Jones 50,285.66 +0.55% The Dow led with a relatively firm +0.55% gain, while the tech-h...

📌 One-Line Summary Overnight rally in the three major US indices and renewed buying in AI semiconductors are expected to support a technical rebound attempt in both KOSPI and KOSDAQ today. However, with USD/KRW hovering near 1,496 won and traders waiting for Nvidia's after-hours earnings, upside may be capped — making foreign flows and FX direction the key variables to watch. 🌙 Overnight Markets On Wednesday (May 20 local time), the three major US indices closed broadly higher, led by aggressive buying in AI semiconductor names. A pullback in the 10-year Treasury yield supported risk appetite, while anticipation around Nvidia's earnings release after today's KR session further fueled the bid. Index Close Change S&P 500 7,432.97 +1.08% NASDAQ 26,270.36 +1.54% DOW 50,009.35 +1.31% The NASDAQ's outperformance underscores that the AI/semiconductor concentration trade is still very much alive. Nvidia-led chip buying reversed the prior session's weakness — which had...

📌 One-Line Summary With US three major indices closing lower overnight and the USD/KRW exchange rate entrenched above the 1,500 level, KOSPI's defense of the 7,200 support and foreign investor flows are expected to be today's pivotal variables. 🌙 Overnight Markets US equities closed broadly lower overnight, with risk-off sentiment intensifying across the three major indices. The Nasdaq led the declines, weighed down by selling pressure in semiconductor and technology shares. Comments from Seagate's CEO raising concerns about whether the memory supply chain can keep pace with demand pressured global memory sentiment, while NVIDIA and other AI-focused chip names continued to attract buying flows — a clear sign of ongoing differentiation within the semiconductor complex. Index Close Change S&P 500 7,353.61 -0.67% NASDAQ 25,870.71 -0.84% Dow Jones 49,363.88 -0.65% The previous Korean session saw KOSPI plunge -3.25% to close at 7,271.66 with the 7,300 level decisively bre...

📌 One-Line Summary With the USD/KRW exchange rate at 1,488 and US big tech weakness adding pressure, alongside the previous session's KOSDAQ -1.66% plunge, the Korean stock market is expected to trade in a tight range with KOSPI's defense of the 7,500 level as the key focus. Investors should watch for sector divergence between FX-beneficiary names (autos, defense) and semiconductor large caps. 🌙 Overnight Markets The New York markets closed mixed overnight, with the Dow posting modest gains while the S&P 500 and Nasdaq finished in negative territory. Renewed concerns over rising oil prices and US 10-year Treasury yields topping 4.5% reignited pressure on the big tech and semiconductor concentration trade. While buying interest in Nvidia held up, memory chip names such as Micron and SanDisk closed weaker, dampening the broader index momentum. Index Close Change Dow Jones 49,686.12 +0.32% S&P 500 7,403.05 -0.07% NASDAQ 26,090.73 -0.51% The Dow's relative strength i...

📌 One-Line Summary After Friday's historic 8,000-point breach and subsequent 6%+ plunge, KOSPI faces a double headwind today as US indices tumbled overnight and the USD/KRW rate approaches the critical 1,500 won mark, suggesting heightened volatility ahead. 🌙 Overnight Markets US equities slid sharply on Friday as risk-off sentiment swept through Wall Street. All three major indices declined, with tech-heavy Nasdaq leading the drop and the Dow once again testing the 50,000 support level. The sell-off was driven by a continued rise in the US 10-year Treasury yield and receding expectations of Fed rate cuts. Heavyweights such as Nvidia and Tesla wobbled, raising concerns that the weakness will spill over to Korean semiconductor majors like Samsung Electronics and SK Hynix at today's open. Index Close Change S&P 500 7,408.50 -1.24% Nasdaq 26,225.14 -1.54% Dow Jones 49,526.17 -1.07% Memory chip names such as Micron and SanDisk underperformed on Friday, which is likely to weig...

📌 Next Week Outlook Summary Wednesday, May 20 looms as the pivot of next week for the Korean stock market: NVIDIA's Q1 earnings release and the April FOMC Meeting Minutes are scheduled on the very same day, framing whether the KOSPI re-tests the historic 8,000 line or extends the sharp Friday pullback. The USD/KRW battle around the 1,500 threshold and the Samsung Electronics labor union strike negotiations are set to drive foreign investor flows. 📊 Last Week Market Summary The Korean market made history last week by briefly touching the 8,000 level on the KOSPI for the first time ever, only to be hit by a Friday (May 15) profit-taking tsunami that erased the entire weekly gain in a single session, sending the index down -6.12% that day. The KOSDAQ saw an even sharper weekly drop of -6.85% , and whether the index can defend the 1,100 line will be a key swing factor for next week. Profit-taking near all-time highs is natural, but the fact that a single session wiped out the week...

📌 One-Line Summary U.S. equities rallied across the board on AI-chip momentum, setting the stage for KOSPI to attempt a foothold above 8,000, though a sticky USD/KRW in the 1,490s and elevated oil prices remain key headwinds. 🌙 Overnight Markets On the previous U.S. session (May 14 local time), the three major Wall Street indices closed broadly higher. Concentrated buying in NVIDIA and AI-semiconductor ETFs continued to drive tech-sector strength, creating a constructive backdrop for Korean semiconductor and AI-related names heading into Friday's Seoul session. Index Close Change S&P 500 7,501.24 +0.77% NASDAQ 26,635.22 +0.88% DOW 50,063.46 +0.75% The NASDAQ led with a +0.88% gain, confirming that the AI-led rally remains intact. That said, last week's hotter-than-expected U.S. April CPI print and lingering volatility in the Philadelphia Semiconductor Index suggest that name-by-name differentiation is likely to persist in Seoul today. 💱 FX & Commodities The Korean w...

📌 One-Line Summary After KOSPI set a fresh all-time high of 7,844 in the previous session, the NASDAQ's +1.20% overnight gain keeps the AI/semiconductor momentum alive, yet a USD/KRW pushing near 1,490 and looming U.S. PPI & retail sales prints are expected to drive a choppy, range-bound session in Seoul. 🌙 Overnight Markets U.S. equities closed mixed on May 13 (local time) as tech leadership reasserted itself while cyclicals took a breather. The NASDAQ jumped more than one percent on renewed AI enthusiasm, while the Dow slipped on profit-taking in economically sensitive names. Both the S&P 500 and the NASDAQ continued to display upward bias, suggesting risk appetite is still intact going into Asian trading hours. Index Close Change S&P 500 7,444.25 +0.58% NASDAQ 26,402.34 +1.20% Dow Jones 49,693.20 -0.14% The NASDAQ's +1.20% advance is a clear signal that buying interest in AI and semiconductor names is still in place, even after the previous day's pullback...