Samsung Electronics just posted the best quarter any technology company has ever reported — operating profit up 19-fold year-over-year, comfortably beating consensus — and KOSPI fell anyway, dropping as much as 3-4% in early trading. The disconnect looks strange on the surface, but it’s a familiar pattern once you look under the hood.

The beat was already priced in. Samsung shares had run up sharply into the print, and a headline number matching (rather than dramatically exceeding) already-elevated expectations gave traders a clean exit point. When a stock has rallied hard on anticipation, even a genuinely excellent result can trigger profit-taking rather than a further re-rating.