Bloomberg reported on the 19th that the Korean stock market, which has a large proportion of artific..
After Director Han closes, Hynix ADR trading
“Tracking 24 hours of investor sentiment from Korea”
KOSPI-NASDAQ correlation coefficient hits highest in 2 years
![To commemorate SK Hynix's listing on the Nasdaq ADR on the 10th, advertisements are appearing on the Nasdaq Tower electronic display board in Times Square. [SK Hynix's YouTube capture]](https://wimg.mk.co.kr/news/cms/202607/19/rcv.NEWS1.NEWS1.20260710.2026-07-10T224257_1008003106_INDUSTRY_I_P1.jpg)
Bloomberg reported on the 19th that the Korean stock market, which has a large proportion of artificial intelligence (AI)-related stocks, is emerging as a leading indicator of global investor sentiment. Analysts say that the status of the Korean stock market, which used to be a marginal market, has changed as stock price movements of Samsung Electronics and SK Hynix have affected investor sentiment in semiconductor stocks around the world.
According to Bloomberg, it has become a new routine among fund managers in London, New York and Tokyo to check the Korean stock market first before starting trading.
Andrew Jackson, head of Japan’s equity strategy at Ortus Advisors, added the KOSPI chart as a key observation target for the first time this year, while Herald van der Linde, head of Asia-Pacific equity strategy at HSBC, said, “Korea is discussed at every meeting these days.”
“Now we’re all Korean investors,” said Hani Reda, portfolio manager at Pinebridge Investments, adding, “We check AI investor sentiment through the Korean stock market every day.”
When the Korean stock market closes, SK Hynix’s US stock deposit certificate (ADR) and Korea-related exchange-traded funds (ETF) in the New York Stock Exchange continue to flow, and investor sentiment from Korea is virtually reflected in the global market 24 hours a day.
This trend was evident last week. The bearish trend spread to the U.S. stock market as the KOSPI plunged nearly 9% in a day on the 13th due to concerns over slowing AI demand, and SK Hynix ADR also fell 9.3%, dragging down other major semiconductor stocks.
Statistics also confirm the link between the Korean and U.S. stock markets. Based on Bloomberg’s tally, the 60-day correlation coefficient between the KOSPI and the Nasdaq 100 index was 0.46, close to the highest level in the last two years. This is about three times the average (0.16) over the past five years.
“Korea has virtually been incorporated into the volatility ecosystem of Nasdaq and Philadelphia Semiconductor Index,” said Ivan Pineseth, Chief Investment Officer (CIO) of Tigris Financial Partners. “Samsung Electronics, SK Hynix, and KOSPI serve as pre-market indicators for U.S. AI and semiconductor stocks.” “Korea is no longer an emerging market in the periphery,” he said.
![The KOSPI index is displayed on the electronic display of Hana Bank's dealing room in Jung-gu, Seoul on the 16th. [Newsys]](https://wimg.mk.co.kr/news/cms/202607/19/rcv.NEWSIS.NEWSIS.20260716.NISI20260716_0021367357_P1.jpg)
In particular, when the Korean stock market falls, the impact on the global market is greater. The sensitivity of the Nasdaq 100 to the KOSPI movement in the face of a weak Korean stock market reached the highest level since 1990 as of the 7th.
However, some point out that if the plunge in the Korean stock market is prolonged, its influence could weaken again. The KOSPI fell 25% since its peak in June, evaporating about $1 trillion in market capitalization, while Samsung Electronics and SK Hynix also fell more than 30% from their peak.
Bloomberg diagnosed that the KOSPI has become a volatile market among major global stock markets as leveraged trading increases volatility. “As immature markets with a lot of leverage trading lead global investor sentiment, there is also a growing possibility that stock prices will deviate from fundamentals,” said UBS SmyTrust Wells Management, a Japanese equity strategist at Gov. Kobayashi.
