Samsung Electronics reported earnings that exceeded market expectations, but its stock fell after an initial rise. Following a decline in all three major U.S. stock indices overnight, most of the KOSPI's top market capitalization stocks are also showing weakness.
As of 9:23 a.m. on October 8, the KOSPI index was down 22.90 points (0.44%) at 6,774.26 compared to the previous trading day.
In the securities market, foreign and institutional investors sold a net 545 billion won and 234.8 billion won, respectively, while individual investors bought a net 756.9 billion won.
Before the market opened, Samsung Electronics disclosed its preliminary earnings for the third quarter of 2026, reporting sales of 195 trillion won, a 126.6% increase from the same period last year. Operating profit reached 107.4 trillion won, up 782.5% year-on-year.
These figures surpass the previous quarter's record earnings of 171.5 trillion won in sales and 89.5 trillion won in operating profit. Compared to the previous quarter, sales and operating profit increased by 13.7% and 20%, respectively. The operating profit slightly exceeded the consensus estimate of 106 trillion won compiled by financial information provider FnGuide.
Most of the top market capitalization stocks are generally declining, with Samsung Electronics down 0.37%, SK Square down 1.4%, Samsung Electro-Mechanics down 0.4%, and Hyundai Motor down 2.98%. In contrast, LG Energy Solution rose 5.12%, and SK Hynix increased by 1.2%.
At the same time, the KOSDAQ index recorded a drop of 9.56 points (1.06%) to 888.58 compared to the previous trading day.
In the KOSDAQ market, individual investors bought a net 170.9 billion won, while foreign and institutional investors sold a net 149.9 billion won and 23.4 billion won, respectively.
Among the top market capitalization stocks, EcoPro rose 0.98%, EcoPro BM increased by 2.65%, JUSUNG Engineering gained 1.01%, and Simtech rose 1.88%. Conversely, Alteogen fell 6.03%, and Rainbow Robotics dropped 2.01%.
Overnight, U.S. stock markets closed lower. The Dow Jones Industrial Average finished down 341.41 points (0.66%) at 51,179.87.
The S&P 500 index fell 17.16 points (0.22%) to close at 7,801.77, while the Nasdaq Composite dropped 61.20 points (0.22%) to finish at 27,538.69.
Today, long-term U.S. Treasury yields surged to their highest levels in over 20 years, putting pressure on the stock market. The yield on the 10-year Treasury note exceeded 5.36%, marking the highest level since 2002. The 30-year yield also rose to around 5.73%, the highest in 24 years.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, despite the stabilization of the surge in U.S. 10-year Treasury yields and a reduction in the decline of U.S. stock markets, the market is expected to show volatility as it digests the implications of Samsung Electronics' preliminary earnings announcement, along with supply and demand issues related to the holiday and options expiration dates."
She added, "The focus should be on the changes in stock prices and foreign investor demand immediately following Samsung Electronics' preliminary earnings report, as well as the adjustments to profit estimates for 2027, rather than just whether the results exceeded consensus expectations."
Han emphasized that since this announcement is preliminary, the lack of detailed figures may lead to temporary discrepancies in market interpretations regarding exchange rate impacts and performance by business segment. She also noted that short-term supply and demand issues could arise due to the market closure on Friday and the ETF rebalancing on October 8 and 12, as well as the options expiration on October 8.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.