Samsung Electronics, which holds a significant share of the domestic market, is expected to influence the KOSPI's direction following the announcement of its earnings that slightly exceeded market expectations.
According to a disclosure made on October 8 by the Financial Supervisory Service's electronic disclosure system (DART), Samsung Electronics reported a preliminary operating profit of 107.4 trillion won for the third quarter of 2026, a staggering 782.5% increase compared to the same period last year. Revenue reached 195 trillion won, marking a 126.6% year-on-year rise.
These figures surpass the previous record set in the second quarter of 2026, which reported revenue of 171.5 trillion won and an operating profit of 89.5 trillion won. Compared to the previous quarter, revenue and operating profit increased by 13.7% and 20%, respectively. The operating profit also slightly exceeded the consensus estimate of 106 trillion won compiled by financial information provider FnGuide.
Market reactions are being closely monitored, as analysts suggest that Samsung's performance could lead to a stable upward trend in stock prices and the KOSPI index.
The domestic stock market is also expected to rise, buoyed by strong performances in U.S. AI-related stocks and easing macroeconomic pressures from interest rates and oil prices. As of 8:43 a.m. on the NXT pre-market, shares of Samsung Electronics (up 1.68%), SK Hynix (up 0.81%), SK Square (up 1.14%), Samsung Electro-Mechanics (up 1.87%), LG Energy Solution (up 2.94%), and Hyundai Motor (up 0.30%) are all showing gains.
In the KOSPI, a wait-and-see approach was observed leading up to Samsung's earnings announcement. The KOSPI closed at 6,803.90, down 137.49 points (1.98%) from the previous trading day. The index opened at 6,864.25, down 77.14 points (1.11%), and although it briefly reduced its losses, it ultimately fell further.
While individual investors made a net purchase of 25.57 billion won, foreign and institutional investors sold a net 26.08 billion won and 6.68 billion won, respectively, contributing to the index's decline.
U.S. markets closed lower overnight, with the Dow Jones Industrial Average falling 341.41 points (0.66%) to finish at 51,179.87. The S&P 500 dropped 17.16 points (0.22%) to close at 4,801.77, and the Nasdaq Composite fell 61.20 points (0.22%) to end at 27,538.69.
The rise in U.S. Treasury yields, reaching their highest levels in over 20 years, has added pressure to the stock market. The yield on the 10-year Treasury note surpassed 5.36%, marking the highest level since 2002. The 30-year yield also rose to around 5.73%, the highest in 24 years.
Recent increases in U.S. Treasury yields are linked to inflation concerns stemming from rising international oil prices and apprehensions regarding increased government spending.
However, strong demand was confirmed in a $39 billion auction of 10-year Treasury notes conducted by the U.S. Treasury, leading to a retreat in yields from their intraday highs. Following the auction, the 10-year yield fell to around 5.28%. The auction yield was recorded at 5.3%, the highest since 2000.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, we expect volatility in the market as it digests the strong demand for U.S. 10-year Treasury notes and the reduced losses in U.S. stocks, alongside the preliminary results from Samsung Electronics, holiday effects, and option expiration issues."
She added, "The focus should be on the changes in stock prices and foreign investor demand immediately following Samsung's preliminary results, as well as adjustments to profit estimates for 2027, rather than just whether the results exceeded consensus expectations."
Han emphasized that since this is a preliminary report, the lack of detailed figures may lead to temporary discrepancies in market interpretations regarding exchange rate impacts and performance across different business segments. She also noted that short-term supply issues could arise due to the market closure on Friday and ETF rebalancing on October 8 and 12, as well as the option expiration date on October 8.
* This article has been translated by AI.
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