KOSPI Soars 5% Then Falls, Failing to Recover the 7,000 Level

Buy Sidecar Triggered

Gains Erased in the Afternoon

KOSDAQ Also Ends Slightly Lower After Initial Gains

Despite strong buying by foreign investors, the KOSPI index failed to recover the 7,000 level. The KOSDAQ index also started higher but continued to decline throughout the session, closing slightly lower.

On July 22, the KOSPI index closed at 6,797.7, up 49.75 points (0.74%) from the previous trading day. By investor type, foreigners were net buyers of 2.6223 trillion won, while individuals and institutions were net sellers of 1.2278 trillion won and 1.3868 trillion won, respectively.

The KOSPI saw a sharp surge early in the session, triggering a temporary suspension of program buy orders (buy sidecar). This is the twentieth buy sidecar activation this year. At around 9:06 AM, due to fluctuations in the KOSPI200 futures index, program buy orders were suspended for five minutes. At the time of activation, the futures index was at 1,139.3, up 58.46 points (5.4%) from the previous day’s closing price. Afterwards, the index fluctuated between rises and falls, but began a steady decline from 1:23 PM at 7,104.57, breaking below the 7,000 level and erasing gains by the close.

As the KOSPI, which showed mixed trends with repeated fluctuations in the early session, turned to an upward trend, employees are monitoring the stock market and exchange rates in the dealing room at the Hana Bank Headquarters in Jung-gu, Seoul on July 21, 2026. Photo by Jo Yong-jun

By sector, medical & precision instruments (-6.48%), textiles & apparel (-1.27%), pharmaceuticals (-1.18%), food, beverage & tobacco (-0.55%), and securities (-0.44%) declined. Telecommunications rose by 5.08%, while construction (4.62%), transport equipment & parts (3.02%), machinery & equipment (2.2%), and general services (2%) advanced.

Among the largest stocks by market capitalization, Samsung Electronics, ranked first, finished trading at 260,500 won, up 1,500 won (0.5%) from the previous session. SK hynix, ranked second, declined by 0.3%. SK Telecom soared 10.5%, while Doosan (8.1%), HD Hyundai (7%), Hyundai Mobis (6.9%), LG Electronics (5.4%), and Hyundai Motor (4.7%) also gained. In contrast, Hanmi Semiconductor fell 4%, while SK Square (-1.8%) and Samsung Biologics (-1.6%) declined as well.

The KOSDAQ index closed at 751.09, down 2.25 points (0.3%). Similar to the KOSPI, it experienced a steady decline after 1:30 PM, ending slightly weaker. Foreigners and institutions were net sellers of 81.7 billion won and 191.4 billion won, respectively, while individuals recorded a net purchase of 263.8 billion won.

Most large-cap stocks on the KOSDAQ declined. PSK Holdings dropped 9.6%, while Padu (-9.2%), Sam Chun Dang Pharm (-8.9%), L&C Bio (-8.6%), Gigavis (-8.2%), VM (-8%), and PSK (-7.8%) also fell. SPG surged 25.1%, and Rainbow Robotics (16.2%), Robotis (11.4%), Woori Technology (5.1%), and Hyundai Movex (4.3%) also posted gains.

This content was produced with the assistance of AI translation services.