Samsung and SK Hynix Carry KOSPI to a 3.57% Rally, KOSDAQ Sits It Out

KOSPI put on a real show today, jumping 3.57%. News that Apple's memory supply hit a snag sent expectations flying that Samsung and SK Hynix would pick up the slack, and foreign investors (+53.5bn won) and institutions (+21.2bn won) both backed that story with real money. KOSDAQ, meanwhile, barely budged at +0.07% — foreigners dumped 356.2bn won and institutions another 95.4bn won, so it's clear where the big money wanted to be today: large-cap chips, not small caps. The bond market's nervous side-eye at Nvidia's AI-infrastructure buildout probably made growth names a little jumpy across the board, yet cloud stocks still rallied through it, which told me the market was being selective rather than running scared. Throw in the news that the KF-21 Boramae fighter jet gets its first Air Force delivery in September, and against a backdrop of exports and jobs holding the real economy steady, today's surge felt less like noise and more like a continuation of where things are already heading. I didn't add a single position today — just watched it play out.