· Sangyong · Market Analysis · 3 min read
Weekly Market Review - October 03, 2026
The week of September 28-02, 2026 was characterized as Global Risk-On. US markets finished modestly higher with the S&P 500 at +0.51% and the Nasdaq at +1.38%. 6 of 7 Magnificent 7 stocks advanced on the week. Korean mar
Prepared by Sangyong’s Market Intelligence
Executive Summary
Week Character: Global Risk-On
The week of September 28-02, 2026 was characterized as Global Risk-On. US markets finished modestly higher with the S&P 500 at +0.51% and the Nasdaq at +1.38%. 6 of 7 Magnificent 7 stocks advanced on the week. Korean markets closed moderately higher, with KOSPI at +1.65% and KOSDAQ at +5.52%.
The 10Y Treasury yield rose 11 bps to 5.29%, adding pressure on growth stock valuations. The Korean won strengthened 1.20% 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
| Stock | Symbol | Mon Open | Fri Close | Weekly Change | Trend |
|---|---|---|---|---|---|
| Apple | AAPL | $338 | $334 | -1.39% | 🔴 |
| Microsoft | MSFT | $509 | $518 | +1.63% | 🟢 |
| Alphabet | GOOGL | $343 | $344 | +0.22% | 🟢 |
| Amazon | AMZN | $246 | $252 | +2.18% | 🟢 |
| NVIDIA | NVDA | $229 | $234 | +2.22% | 🟢 |
| Meta | META | $716 | $728 | +1.74% | 🟢 |
| Tesla | TSLA | $357 | $371 | +3.68% | 🟢 |
Korean Market Leaders
| Stock | Symbol | Mon Open (₩) | Fri Close (₩) | Weekly Change | Trend |
|---|---|---|---|---|---|
| Samsung Elec. | 005930 | ₩270,000 | ₩276,000 | +2.22% | 🟢 |
| SK Hynix | 000660 | ₩1,761,000 | ₩1,842,000 | +4.60% | 🟢 |
| Hyundai Motor | 005380 | ₩354,000 | ₩347,000 | -1.98% | 🔴 |
Indices
| Index | Mon Open | Fri Close | Weekly Change | Trend |
|---|---|---|---|---|
| S&P 500 | 7,683.68 | 7,722.72 | +0.51% | 🟢 |
| Nasdaq | 26,820.38 | 27,190.86 | +1.38% | 🟢 |
| Dow Jones | 51,481.51 | 51,176.96 | -0.59% | 🔴 |
| KOSPI | 6,889.74 | 7,003.74 | +1.65% | 🟢 |
| KOSDAQ | 846.58 | 893.29 | +5.52% | 🟢 |
Currency (KRW/USD)
- Monday: ₩1,360
- Friday: ₩1,344
- Weekly Change: -1.20% (KRW strengthened — USD weaker)
- Impact: FX tailwind for USD investors in Korean equities.
U.S. 10-Year Treasury Yield
- Monday: 5.18%
- Friday: 5.29%
- Weekly Change: +11 bps
- Implication: +11 bps — rising yields pressure high-multiple growth stocks; materially restrictive.
Weekly Trends and Themes
1. US Market Performance
S&P 500: +0.51% | Nasdaq: +1.38% | Dow: -0.59%
The S&P 500 advanced +0.51% for the week, with Nasdaq outperforming at +1.38%. Gains were concentrated in growth/tech; defensive sectors lagged.
Magnificent 7: 6 of 7 Mag7 stocks advanced. Best: Tesla (+3.68%), worst: Apple (-1.39%).
Takeaway: Consolidation week — no tactical change needed.
2. Korean Market Performance
KOSPI: +1.65% | KOSDAQ: +5.52% (weekly)
KOSPI recovered +1.65% — a constructive move, though confirmation of a sustained uptrend requires follow-through volume.
KOSDAQ sharply higher (+5.52%), outperforming KOSPI — risk appetite favoring small/mid caps.
Among Korean blue chips: SK Hynix led (+4.60%), Hyundai lagged (-1.98%).
Takeaway: Strong week for Korean markets — partial position add appropriate.
3. Currency Impact (KRW/USD)
Weekly KRW Move: -1.20% ₩1,360 → ₩1,344
The won strengthened notably (-1.20%, ₩1,360 → ₩1,344) — 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: 5.18% → 5.29% (+11 bps)
The 10Y yield drifted higher by +11 bps to 5.29% — a modest rise, not enough to drive a major equity repricing.
Market Implication: Mild headwind for high-multiple names; monitor direction next week.
5. Key Weekly Observation
- Markets moved in a relatively correlated fashion this week — few compelling cross-asset divergences to exploit.
Best and Worst Performers
Best (Weekly Upside Movers):
- SK Hynix: +4.60% █████████
- Tesla: +3.68% ███████
- NVIDIA: +2.22% ████
- Samsung: +2.22% ████
- Amazon: +2.18% ████
Worst (Weekly Declines):
- Alphabet: +0.22%
- Apple: -1.39% ██
- Hyundai: -1.98% ███
Commentary:
SK Hynix led the group at +4.60% — solid outperformance suggesting relative institutional buying interest.
8 of 10 stocks advanced. Breadth is healthy — more gainers than losers.
Weekly Review Compiled: October 03, 2026 at 12:10 PM Analysis Period: September 28 - 02, 2026 Data Sources: Daily market reports, Naver Finance, Yahoo Finance, FRED