South Korea’s stock markets extended their powerful autumn rally on Thursday, Nov. 13, 2025, with both the KOSPI and KOSDAQ closing higher despite persistent pressure on the won and mixed performance from heavyweight tech names.
Trading was held on shortened hours — opening at 10 a.m. and closing at 4:30 p.m. KST — to accommodate the nationwide college entrance exam (CSAT), but that didn’t stop turnover or risk appetite from surging. Webull
KOSPI Closes at 4,170.63, Extending a Four‑Session Winning Streak
The benchmark KOSPI index finished up 0.49% at 4,170.63, gaining 20.24 points from Wednesday’s close and marking its fourth straight advance. First-Class Business News
- Intraday range: roughly 4,123–4,180 points. Investing
- Volume: about 421.75 million shares traded. Korea Joongang Daily
- Transaction value: around 17.36 trillion won (≈$11.8 billion), a solid level for a shortened session. Korea Joongang Daily
The upward momentum came primarily from relief over the end of the record U.S. federal government shutdown, which had rattled global sentiment for weeks. U.S. President Donald Trump signed a funding bill overnight, ending a 43‑day shutdown after both houses of Congress passed the legislation, a move that investors in export‑heavy Korea quickly welcomed. Korea Joongang Daily
Overnight on Wall Street, the Dow Jones Industrial Average rose about 1.2%, while the Nasdaq slipped 0.25% as tech stocks digested news that SoftBank sold its remaining stake in Nvidia to fund further AI investments. Korea Joongang Daily That split tone fed directly into Thursday’s trading in Seoul.
Sector Snapshot: Shipbuilders and Batteries Soar, While Big Tech Takes a Breather
Thursday’s session in Seoul was a story of cyclical and green‑energy names outperforming mega‑cap tech.
Winners
- Shipbuilding & heavy industry:
- HD Hyundai Heavy Industries jumped about 6%.
- Samsung Heavy Industries added almost 1%. Korea Joongang Daily
- Battery and chemicals:
- LG Chem surged roughly 6.6%.
- Samsung SDI climbed just over 4%. Korea Joongang Daily
- LG Energy Solution advanced around 2%, according to local closing reports. First-Class Business News
- By broader sector, machinery & equipment (+3.94%), medical & precision instruments (+2.87%) and metals (+2.73%) showed the strongest gains on the main board. First-Class Business News
These moves reflect investors’ continued rotation into industries tied to global trade, shipbuilding, and energy transition, even as headline chip names cool off.
Laggards
- Samsung Electronics slipped around 0.29%.
- SK hynix declined 0.81%. Korea Joongang Daily
- Among autos, Hyundai Motor managed modest gains near 0.9%, while Kia eased around 0.5%. First-Class Business News
Despite recent bullish commentary about Samsung’s medium‑term prospects on high‑bandwidth memory (HBM4) and AI‑related demand, the stock saw profit‑taking after a powerful year‑to‑date advance. Co
Even with today’s pause in some heavyweights, the KOSPI is still up more than 70% so far in 2025, underscoring how aggressive the rally has been since the spring. TradingView
KOSDAQ Outperforms: Index Jumps 1.31% as Risk Appetite Holds
The KOSDAQ, Korea’s tech‑ and growth‑oriented junior market, outpaced the main board:
- KOSDAQ close:918.37, up 11.86 points (1.31%) from Wednesday. First-Class Business News
- Open: around 904.36, according to index data providers, implying strong buying into the shortened session. Barron’s
Beneath the index level, the mood in KOSDAQ is risk‑on:
- A wave of IPOs has ignited speculative interest. On Thursday, newly listed lab‑automation firm Curiosys on KOSDAQ reportedly soared about 300% above its IPO price soon after the open, satisfying the local “따블‑따상 (double‑double)” pattern where shares quadruple relative to the initial offering price. Maeil Business Newspaper
- Other recent debutants — such as AI optimization player Nota and tech firm Innotech — have also hit exchange limits or rallied sharply, drawing more retail traders into subscription and first‑day trading. Maeil Business Newspaper
At the same time, stock‑specific research continues to shape sentiment:
- Analysis on KM Corporation (KOSDAQ:083550) highlighted a very low price‑to‑sales ratio around 0.3x, with commentary suggesting that slower medium‑term revenue growth justifies the discount versus the broader medical equipment sector. Simply Wall St
- Biotech Shaperon (KOSDAQ:378800) drew attention after announcing preparations for a Phase 2b clinical trial of its inflammasome‑targeted atopic dermatitis drug, underscoring the pipeline‑driven nature of KOSDAQ healthcare plays. Business Wire
In the crypto‑adjacent space, blockchain firm Parameta (formerly ICONLOOP) made headlines by declaring its intention to pursue a KOSDAQ listing next year, a move seen as further blurring the lines between Korea’s digital‑asset ecosystem and mainstream capital markets. CryptoRank
Foreign Investors Buy 1 Trillion Won in a Day
The single biggest driver of Thursday’s KOSPI move was aggressive foreign buying.
- On the main board, overseas investors were net buyers of about 1.0–1.01 trillion won, more than offsetting net selling by individuals and domestic institutions. First-Class Business News
- Individuals dumped roughly 200–240 billion won, while institutions offloaded around 700–770 billion won worth of stocks, according to translated local reports. First-Class Business News
Today’s flow fits into a broader pattern of foreign capital returning to Korean equities:
- Central bank data released Thursday showed offshore investors remained net buyers of Korean securities in October, with a combined $2.29 billion in net purchases of stocks and bonds, following an even larger $9.12 billion net inflow in September. Korea Joongang Daily
- Within that, foreigners bought a net $3.02 billion of local stocks in October, even as they turned net sellers of bonds. The Bank of Korea attributed the equity inflows to global AI‑themed investment and strong tech sentiment, tempered only by profit‑taking after outsized gains. Korea Joongang Daily
The combination of structural foreign inflows and short‑term event relief from the U.S. shutdown helped keep Korean equities supported despite FX volatility.
Won Hovers in Upper 1,460s per Dollar, FX Volatility Still a Threat
While stocks climbed, the Korean won remained under pressure, underscoring a key macro risk that investors cannot ignore.
- At the onshore close, the dollar was quoted around ₩1,466–1,468, according to Seoul FX market data and local press. Korea Joongang Daily
- Intraday, the won briefly weakened beyond ₩1,470 per dollar for the second straight day, touching around ₩1,475.3 before paring some losses — its weakest intraday level in about seven months. Maeil Business Newspaper
Local coverage framed the current level as the “weak end of the 1,400 range”, reviving memories of previous stress episodes:
- An analysis piece noted that the won’s slide is being driven by uncertainty over Korea‑U.S. tariff negotiations, a surge in Koreans’ overseas stock investment (especially into U.S. markets), and a persistently weak yen. Maeil Business Newspaper
- Another widely read article highlighted how companies are struggling to finalize 2026 business plans because every 10‑won move in the exchange rate can swing operating profits by billions of won, especially for import‑heavy sectors like food processing, ship components, petrochemicals, and steel. Korea Joongang Daily
Bank of Korea Governor Rhee Chang‑yong has suggested the FX market may be overreacting to uncertainty and signaled that authorities could intervene if volatility intensifies. Korea Joongang Daily
For equity investors, that means:
- Exporters with large dollar revenues may enjoy a profit boost in the near term.
- Import‑dependent small and mid‑size firms could see margin compression unless they successfully pass through higher costs. Korea Joongang Daily
Liquidity Surge: Retail Investors, Margin Debt and IPO Mania
Another important undercurrent shaping today’s trade is the sheer volume of domestic money rushing back into equities.
A Maeil Business analysis on Thursday described the KOSPI “4,000‑point era” as a “black hole” drawing in market liquidity: Maeil Business Newspaper
- The daily average transaction value on the KOSPI in November is about ₩20.31 trillion, more than double January’s level and the highest monthly reading since the 2021 “Donghak ant” retail boom. Maeil Business Newspaper
- Individual investors’ share of KOSPI trading has climbed back into the 43% range over the past two months, up from the low‑40% range in late summer, as local retail traders rotate back from cash and deposits into stocks. Maeil Business Newspaper
- Margin debt (credit loans for stock trading) is hovering near a record high, with outstanding balances around ₩27 trillion as of Nov. 12. Maeil Business Newspaper
The same report noted that more than ₩20 trillion has left commercial banks in a single month, while asset managers have seen a sharp increase in equity fund and money‑market fund inflows, underscoring a broad “money move” toward risk assets. Maeil Business Newspaper
Banks are responding by raising deposit rates, but analysts quoted in local media expect the shift into equities to continue in the near term, especially while the index stays above the symbolic 4,000‑point line and new‑listing “jackpots” keep capturing headlines. Maeil Business Newspaper
Regulators Tighten the Screws as Market Alerts Hit a Record
With animal spirits back in force, regulators are also signaling caution.
According to a report citing Korea Exchange (KRX) data, 71 listed companies have been designated as either “investment warning” or “investment risk” stocks so far this year, the highest number on record, reflecting concerns about excessive speculation, abrupt price spikes, and thinly explained rallies. 조선일보
These designations can:
- Trigger additional disclosure requirements,
- Limit aggressive trading strategies, and
- Serve as a public warning for retail investors chasing short‑term gains.
For KOSDAQ in particular — where small‑cap and concept stocks can move 30% or more in a single session — these warnings are an important backdrop to today’s strong index performance.
Bond Market and Rates: Yields Edge Lower After Shutdown Relief
In the Korean government bond market, price action was relatively calm but leaned slightly supportive:
- Korea’s 3‑year treasury yield hovered around 2.93%, moving only a few basis points on the day.
- The benchmark 10‑year Korean yield sits in the low‑3.2% range, while the U.S. 10‑year Treasury yield fell toward 4.07% overnight. TradingView
Lower long‑term yields, especially in the U.S., tend to support growth and tech valuations, even if today’s session in Seoul showed some profit‑taking in large semiconductors.
What Today’s Moves Mean for Investors
For anyone tracking Korean stocks on Nov. 13, 2025, several key themes stand out:
- Risk sentiment is back — but selective.
- The KOSPI is holding comfortably above 4,000, and the KOSDAQ is pushing higher, powered by foreign inflows, shipbuilders, and EV‑battery plays.
- Mega‑cap chips like Samsung Electronics and SK hynix are pausing after a massive year‑to‑date run, especially as global investors rotate and digest Nvidia‑related headlines. TradingView
- Foreign money is still buying Korea.
- Overseas investors bought about ₩1 trillion of KOSPI shares today alone and have been net buyers of local equities for months, even as they trim bond exposure. First-Class Business News
- FX volatility is the biggest macro risk.
- The won hovering around ₩1,470 per dollar is a tailwind for exporters but a headache for import‑heavy small and mid‑caps — and for corporate planners trying to set 2026 budgets.
- Policymakers are openly discussing the possibility of intervention or increased hedging if depreciation deepens. Maeil Business Newspaper
- Retail leverage and IPO frenzy are double‑edged.
- Record margin debt, surging trading volumes, and spectacular first‑day IPO pops are boosting liquidity but also increasing the risk of sharp corrections if sentiment turns. Maeil Business Newspaper
- KRX’s record number of “warning” and “risk” designations shows regulators are watching closely. 조선일보
- Event risk remains high.
- Markets will be watching Nvidia’s upcoming earnings, further details on Korea‑U.S. tariff talks, and any signs of FX intervention by Korean authorities. Korea Joongang Daily
For now, though, the story of Nov. 13, 2025 is one of resilient Korean equities: the KOSPI and KOSDAQ both climbed, foreign investors bought aggressively, and the end of the U.S. shutdown provided just enough global relief to keep the rally alive — even as the weak won and speculative fervor flash amber warning lights in the background.
