On the 5th, KOSPI closed down 5.28% at 5383.80, and the daily decline reached 300 points. Foreign investors net sold 3.42 trillion won, while SK Hynix fell 9.46% and Samsung Electronics fell 7.57%. Concerns over tighter AI data center regulation after the US midterm elections were cited as the reason for the selloff.
Brent crude fell 8.7% in a single day to close at 94.62 dollars, and the decline over three days is 19.6%. Reports said hopes for an early end to the Iran conflict grew after the Democrats took both chambers of Congress. Dubai crude held above 100 dollars, while a drop in US inventories limited the fall.
The ruling party tabled the special counsel bill on fabricated indictments, which it adopted as official party policy on the 3rd, at the plenary session the day after it cleared the Legislation and Judiciary Committee. The opposition responded with a filibuster. The special counsel will investigate 12 cases, with up to 309 people deployed for 200 days. The clause giving the power to withdraw indictments was removed from the bill.
Toyota said operating profit for July to September rose 34%, and it raised its full-year forecast to 3.9 trillion yen. It also announced up to 14 trillion yen in shareholder returns through March 2031, twice the 7 trillion yen of the previous five years. The stock rose 17%, its biggest one-day gain in about 40 years.
AMD disclosed a non-cash charge of 1.07 billion dollars, or 66 cents per share, linked to warrants it issued to OpenAI and Meta. It also signed a five-year AI chip deal with Meta worth up to 60 billion dollars. The stock rose 8% in after-hours trading.
Novartis disclosed tumor cases in children who received Zolgensma, its SMA gene therapy. Since the FDA approved it in 2019, there have been 9 tumor reports, and the company said 2 of them have evidence suggesting a possible link to the treatment. Regulators are reviewing the cases.
A Russian strike on an aid center in Komyshuvakha, Zaporizhzhia Oblast, raised the death toll to 42, and 33 people are believed to be buried under the rubble. On the same day, the Iranian Revolutionary Guard Corps said two tankers and a tugboat burned after using an unauthorized route through the Strait of Hormuz.
More than half of appliance buyers during the event chose a subscription over a one-time payment, and about 70% did so for TVs. Domestic sales of the Galaxy Z Fold8 rose more than 20% after launch.
Subscribers to the Yogiyo subscription service doubled in about two years. Growth was attributed to expanded Naver Plus membership and Toss partnerships, plus the introduction of point accumulation.
The Big Archi, launched on October 22, passed 1 million cumulative units within two weeks. It has two 113g patties, and reviews and tasting videos continued on social media.
Counting October 15 to November 1, visitors passed 1 million. The top seller was Incheon-style kkwari dakgangjeong, and takeout chicken sales rose about 33% from a year earlier.
Convenience store sales rose about 44% in the three weeks after the seasonal launch, and sales across all channels rose about 20%. Posts on how to steam hoppang well spread from Threads to Reels.
The ruling party tabled the bill, which it adopted as official party policy on the 3rd, at the plenary session the day after it cleared committee, and the opposition responded with a filibuster.
The clause giving the power to withdraw indictments was removed, but the principle of separating investigation and prosecution will not apply to the special counsel and deputy special counsel.
The ruling party defended the fund as growth investment, while the opposition demanded debt repayment, calling it contradictory to build up reserves through government bond issuance. The committee is reviewing the 821 trillion won budget proposal for next year.
The daily decline reached 300 points, bringing the index to its lowest level since April 3. Concerns over tighter AI data center regulation after the US midterm elections were cited as the reason for the selloff.
This was the largest one-day net sale since October 15. The selling focused on Samsung Electronics and SK Hynix, which together accounted for about 70% of foreign net selling.
The decline was linked to US stocks, where Nvidia fell 3.17% and Micron fell 7.00%.
KOSDAQ 150 futures plunged 6.07%, triggering a sidecar at 2:27 p.m. Individuals net bought 198.7 billion won on KOSDAQ, while foreign investors net sold 104.1 billion won.
Despite the stock plunge and foreign selling, the rise in the exchange rate was small. In the afternoon, the global dollar turned weaker, narrowing the gains.
Hybrid sales drove the results, and Toyota announced up to 14 trillion yen in shareholder returns through March 2031. That is twice the 7 trillion yen of the previous five years, and the stock rose 17%.
Deutsche Telekom plans share buybacks of up to 2 billion euros in 2027. Many European telecom operators, including Swisscom, raised their earnings forecasts.
Both stocks fell together after the midterm election results. MarketScreener reported that the combined market cap of the two stocks was on track to shrink by more than 380 billion dollars over the week. Goldman Sachs estimated that about 45% of data center expansion could be affected by temporary suspensions.
AMD disclosed a non-cash cost of 1.07 billion dollars (66 cents per share) linked to warrants issued to OpenAI and Meta. Its five-year AI chip deal with Meta is worth up to 60 billion dollars, and the stock rose 8% in after-hours trading.
Google pledged an additional 15 billion dollars for its Malaysia data centers, with construction set for 2027 to 2028. It had pledged 2 billion dollars in May 2024.
Supermicro will sell SambaNova's SN50 inference chips alongside Nvidia GPUs, with an initial plan of 10,000 units. Binding orders, customers, and shipping schedules have not been disclosed.
Centra raised 150 million dollars on November 4 in a Series C round led by Capital One Ventures. Its valuation and cumulative funding were not disclosed.
Russian forces struck the aid center in Komyshuvakha, raising the death toll to 42. An estimated 33 people are believed to be buried.
The Iranian Revolutionary Guard Corps said two tankers and a tugboat burned after using the unauthorized Hormuz route. One of the vessels was reportedly hit by a mine.
The US Treasury sanctioned Indian and Turkish companies and individuals for supporting Iran as part of its 'economic deportation' campaign.
Syrian President al-Sharaa visited Riyadh, met Crown Prince Mohammed, and the two countries signed a defense cooperation agreement.
Polish authorities arrested four people accused of working for Russian intelligence and supplying military components.
Since FDA approval in 2019, there have been 9 tumor reports, and the company said 2 of them have evidence suggesting a possible link to the treatment. Regulators are reviewing the cases.
Reports said hopes for an early end to the Iran conflict grew after the Democrats took both chambers of Congress. Brent fell 19.6% over three days, but Dubai crude held above 100 dollars.
CEO Kim Dong-cheol said an industrial rate hike should be a last resort, and that a fuel-cost linkage cap of ±5 won/kWh should be reviewed so rates can be lowered when costs fall.
Nuclear power is not recognized as renewable energy under the RPS, so KHNP must buy renewable energy certificates (RECs). An economic group report warned that this cost could add pressure on electricity rates.
Based on the KOFIC integrated network, Final Interview drew 26,700 viewers on November 4, for a cumulative total of 42,574, and took first place. It is the first time a Korean film has taken the top spot since Amsaljadeul on October 13, 22 days earlier.
On November 4 in the Champions League, Como beat Lens 9-1. Fenerbahce beat Liverpool 3-2, Real Madrid beat AEK Athens 3-2, Manchester City beat Leipzig 3-2, and Arsenal beat Slavia Prague 2-1.
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