Weekly Market Review - August 01, 2026

Prepared by Sangyong’s Market Intelligence

Executive Summary

Week Character: US Strength / Korea Weakness

The week of July 27-31, 2026 was characterized as US Strength / Korea Weakness. US markets finished modestly higher with the S&P 500 at +1.03% and the Nasdaq at +1.77%. 5 of 7 Magnificent 7 stocks advanced on the week. Korean markets closed moderately lower, with KOSPI at -2.37% and KOSDAQ at -5.90%.

The 10Y Treasury yield fell 4 bps to 4.67%, with little impact on equity multiples. The Korean won strengthened 1.52% against the dollar, providing a mild FX tailwind for USD investors.

Key stat: Divergent markets — cross-asset selectivity mattered more than directional bets.

Weekly Performance Summary

U.S. Magnificent 7

Korean Market Leaders

Indices

Currency (KRW/USD)

• Monday: ₩1,465
• Friday: ₩1,443
• Weekly Change: -1.52% (KRW strengthened — USD weaker)
• Impact: FX tailwind for USD investors in Korean equities.

U.S. 10-Year Treasury Yield

• Monday: 4.71%
• Friday: 4.67%
• Weekly Change: -4 bps
• Implication: Stable yields — no rate-driven equity repricing this week.

Weekly Trends and Themes

1. US Market Performance

S&P 500: +1.03% | Nasdaq: +1.77% | Dow: +0.53%

The S&P 500 advanced +1.03% for the week, with Nasdaq outperforming at +1.77%. The rally was broad-based, with tech and value names both participating.

Magnificent 7: 5 of 7 Mag7 stocks advanced. Best: Microsoft (+19.43%), worst: Apple (-8.31%).

Takeaway: Consolidation week — no tactical change needed.

2. Korean Market Performance

KOSPI: -2.37% | KOSDAQ: -5.90% (weekly)

KOSPI fell -2.37% — a significant weekly decline; avoid new entries until price stabilizes.

KOSDAQ sharply lower (-5.90%), underperforming KOSPI — investors preferring large-cap stability.

Among Korean blue chips: Samsung led (+3.35%), SK Hynix lagged (-5.40%).

Takeaway: Weak week — wait for stabilization before new entries.

3. Currency Impact (KRW/USD)

Weekly KRW Move: -1.52% ₩1,465 → ₩1,443

The won strengthened notably (-1.52%, ₩1,465 → ₩1,443) — a tailwind for USD investors; currency appreciation boosts USD-basis returns from Korean equities.

Investor Implication: Positive for USD investors — total return (price + FX) exceeds the index gain.

Export sector note: KRW strength compresses USD-reported revenues for Korean exporters — margin headwind for next quarter.

4. Treasury Yields

10Y: 4.71% → 4.67% (-4 bps)

The 10Y Treasury yield held steady at ~4.67% (-4 bps for the week) — no yield-driven repricing of equities.

Market Implication: Stable rates support growth stock multiples.

5. Key Weekly Observation

• US outperformed Korea by 3.4pp this week — US macro strength or global risk rotation toward dollar assets is the likely driver.
• Wide Mag7 dispersion this week (27.7pp between best and worst) — stock-pickers’ market; index-level moves understate individual name volatility.

Best and Worst Performers

Best (Weekly Upside Movers):

• Microsoft: +19.43% ████████████████████
• Amazon: +17.37% ████████████████████
• Alphabet: +9.05% ██████████████████
• Samsung: +3.35% ██████
• NVIDIA: +2.16% ████

Worst (Weekly Declines):

• SK Hynix: -5.40% ██████████
• Meta: -6.26% ████████████
• Apple: -8.31% ████████████████

Commentary:

Microsoft was the standout winner at +19.43% — a weekly gain of this size reflects either strong earnings catalysts, analyst upgrades, or a short-covering squeeze. Verify whether the move is fundamental or technical before chasing.

Apple was the clear laggard at -8.31% — a decline of this magnitude warrants a fundamental review. Check whether this reflects a company-specific negative (guidance cut, regulatory headwind) or macro pressure.

6 of 10 stocks advanced. Breadth is healthy — more gainers than losers.

Weekly Review Compiled: August 01, 2026 at 12:10 PM Analysis Period: July 27 - 31, 2026 Data Sources: Daily market reports, Naver Finance, Yahoo Finance, FRED