Macro Dashboard
| Indicator | Level | 5-Day Δ | Signal |
|---|---|---|---|
| KOSPI | 6,971.4 | −1.6% | → Flat |
| KOSDAQ | 894.3 | +5.9% | ↑ Strong |
| VIX | 16.3 | +9.4% | 🟢 Stable |
| US 10Y | 5.29% | +0.13pp | ↑ Rising |
| USD/KRW | 1,363 | −0.3% | → Flat |
| Brent | $100.5 | −4.5% | ↓ Falling |
Regime: KR Bear / US Bull. The 7.5pp breadth divergence — KOSPI flat while KOSDAQ surges — is the week’s defining signal. Stance: reduce Korea large-cap exposure, hold US.
Market Wrap
Source: KR Market Snapshot (same-day DB, 2026-10-01). A full close-briefing markdown was unavailable; data below is drawn from the intraday/close DB snapshot.
Today’s session was a selective small-cap advance under a Bear-regime KOSPI headline. Breadth was firmly positive: 1,615 stocks gained versus 721 declining across 2,598 names, with the average issue up +1.39% and the advance-decline ratio proxy at 224. The Bear designation reflects large-cap index drag, not broad market weakness.
Theme of the day: semiconductor components and equipment. Foreign buying concentrated in HPSP (403870.KQ, +8.3%), 테크윙 (089030.KQ, +10.4%), 하나마이크론 (067310.KQ, +8.1%), 삼화콘덴서 (001820.KS, +6.4%), and 디아이 (003160.KS, +13.1%). LG이노텍 (011070.KS, +3.6%) added a camera-module note to the components bid. Together, the pattern reads as a cycle-bet on semicon back-end and passive-component demand.
Institutional demand reinforced the same theme: HPSP, 테스 (095610.KQ, +9.7%), 유진테크 (084370.KQ, +10.9%), and 한솔케미칼 (014680.KS, +7.9%) all saw net institutional buying. NC (036570.KS, +10.1%) and 올릭스 (226950.KQ, +14.1%) drew isolated institutional flows in gaming and biotech, but these appear event-driven rather than thematic.
Foreign selling was concentrated in financials and internet: KB금융 (105560.KS, −1.7%), 신한지주 (055550.KS, −2.2%), 우리금융지주 (316140.KS, −4.7%), and NAVER (035420.KS, −1.3%) all faced sustained selling. With US 10Y rising to 5.29% and Brent falling 4.5% on the week, the rotation logic is clear — away from rate-sensitive and energy-linked names, into margin-expansion plays where falling input costs improve near-term earnings.
The most notable institutional sell was SK이노베이션 (096770.KS, −6.2%), consistent with the energy de-rating. Construction names — HD건설기계 (267270.KS, −3.2%), GS건설 (006360.KS, −3.0%), and 현대건설 (000720.KS, −0.3%) — also faced institutional distribution.
Derivatives/passive flow: program selling came in at −₩483.1bn (basis +3.27), open interest added 1,626 contracts, but ETF net creation of +₩256.6bn partially offset the outflow. Net passive pressure was moderate, not extreme.
Today’s Quality Re-Rating Candidates
Source: KR Meta Screener (2026-10-01), 132-stock universe. All screener data fresh as of today. Note: the standalone PEAD screener produced no 2+ overlap confirmations today; the Meta Screener’s independent multi-family scoring is the primary ranking source.
The editorial lens: good businesses where institutional and foreign capital is beginning to enter, and where the market is starting to re-price the earnings story. The framework weights names hitting three or more independent evidence families: fundamental quality (ROE, operating leverage), money flow (Smart Money Quality or Smart Money Earnings), and cycle re-rating (margin expansion + earnings trajectory).
Top Candidates
| Rank | Ticker | Name | Meta Score | Evidence Families | Screeners Hit | Key Metrics |
|---|---|---|---|---|---|---|
| 1 | 161890.KS | 한국콜마 | 74.8 | 7 | Quality Compounder, Cycle Rerating, PEAD, RS80 | ROE 14.7%, OP YoY +23.6%, Δmargin +0.9pp |
| 2 | 005930.KS | 삼성전자 | 70.9 | 7 | Quality Compounder, Cycle Rerating, PEAD, RS80 | ROE 10.7%, OP YoY +33.2%, Δmargin +2.2pp |
| 3 | 009150.KS | 삼성전기 | 68.3 | 6 | Quality Compounder + Smart Money Quality + Cycle Rerating + Smart Money Earnings + PEAD | ROE 7.4%, OP YoY +24.3%, F+QI 5d +₩31.9bn |
| 4 | 080220.KQ | 제주반도체 | 67.0 | 6 | Quality Compounder + Smart Money Quality + Cycle Rerating + Smart Money Earnings + PEAD | ROE 17.4%, OP YoY +274.4%, Δmargin +6.0pp |
| 5 | 096530.KQ | 씨젠 | 56.6 | 5 | Quality Compounder + Smart Money Quality + Cycle Rerating + Smart Money Earnings | ROE 4.8%, OP YoY +309.7%, Δmargin +11.3pp |
| 6 | 119850.KQ | 지엔씨에너지 | 54.4 | 6 | Quality Compounder, Cycle Rerating, PEAD | ROE 21.1%, OP YoY +55.8%, Δmargin +4.8pp ⚠️ F+QI 5d selling |
| 7 | 098460.KQ | 고영 | 53.5 | 5 | Smart Money Quality + Cycle Rerating + Smart Money Earnings | F+QI 5d +₩50.3bn, Δmargin +5.8pp, IR event |
| 8 | 003350.KS | 한국화장품제조 | 51.0 | 6 | Quality Compounder + Smart Money Quality + Cycle Rerating + PEAD | ROE 30.6%, OP YoY +24.2% ⚠️ 2 DART risk filings |
| 9 | 425420.KQ | 티에프이 | 50.4 | 5 | Smart Money Quality + Cycle Rerating + Smart Money Earnings + Consensus Up | F+QI 5d +₩8.3bn, Δmargin +11.1pp |
| 10 | 000660.KS | SK하이닉스 | 49.2 | 5 | Quality Compounder, Cycle Rerating | ROE 35.6%, OP YoY +101.2% ⚠️ F+QI 5d −₩5,314bn |
A note on ranking: 한국콜마 and 삼성전자 lead the Meta Screener on raw score (7 independent evidence families each), but neither clears the Smart Money Quality filter — their money-flow leg runs through Kiwoom market surface signals rather than direct institutional accumulation. 삼성전기, 제주반도체, 씨젠, and 한국화장품제조 hit the full Quality Compounder ∩ Smart Money Quality ∩ Cycle Rerating trifecta, making them the strongest candidates by the editorial framework even at slightly lower meta scores.
Top 3 Deep Dives
#1 한국콜마 (161890.KS) — Operating Leverage Leading Re-Rating
한국콜마 is Korea’s dominant cosmetics OEM/ODM manufacturer, supplying formulations to domestic and international brands. The Quality Compounder filter confirms ROE of 14.7% with operating profit growing +23.6% year-on-year. Cycle Rerating adds a margin expansion of +0.9pp. Foreign and qualified-institutional buying absorbed −₩13.2bn of individual-investor supply today. DART filings from 2026-10-01 include a related-party business transfer and a debt guarantee — both neutral-tagged, but capital allocation discipline warrants monitoring. Caution: short interest at 5.3% and foreign ownership at 41.2% limit squeeze potential. The meta score leads the full 132-stock universe at 74.8 across 7 independent families. What to check next: OEM margin trends in H2, and whether the business transfer affects core capacity.
#3 삼성전기 (009150.KS) — Quality + Smart Money + Cycle, All Three
삼성전기 designs and manufactures MLCCs, camera modules, and flip-chip substrates — components that sit at the intersection of AI hardware, advanced smartphones, and automotive electronics. This is the strongest multi-screener candidate by framework priority: it simultaneously clears Quality Compounder, Smart Money Quality, Cycle Rerating, Smart Money Earnings, and PEAD. Foreign and qualified-institutional net buying over the 5-day window reached +₩31.9bn, with individual investors adding a further +₩17.9bn — not a retail-only move. OP YoY growth of +24.3% with margin expansion of +0.9pp confirms the re-rating thesis. Two DART catalysts in the lookback window: a supply contract (2026-09-29) and a subsidiary capex decision — both active signals. What to check next: MLCC demand trajectory into Q4 and substrate utilisation commentary from the most recent earnings call.
#4 제주반도체 (080220.KQ) — Highest Earnings Leverage, Smart Money Confirms
제주반도체 is a fabless memory chip designer focused on low-power DRAM and NOR Flash for IoT, wearables, and industrial end-markets. The fundamental case is striking: OP YoY +274.4%, Δmargin +6.0pp, ROE 17.4%. Smart Money Quality confirms 5-day net F+QI inflow of +₩59.1bn against individual-investor supply of −₩58.4bn — a textbook institutional accumulation pattern. Raw meta score of 100.5 is the highest in the universe before family-level capping reduces it to a final score of 67.0. One DART filing in the 21-day lookback: a short-term borrowing increase (2026-09-23, neutral). No cautions flagged by the system. The high OP growth rate invites scrutiny of base effects, but the margin expansion trajectory and clean money-flow signal make this a priority second-look candidate. What to check next: product mix between commodity DRAM and value-added low-power variants, and customer concentration.
This post presents publicly available screener output and market data for analytical purposes only. It does not constitute investment advice or a solicitation to buy or sell any security.