Opened at 5,403, slid to 5,379 — a fresh dip on top of yesterday's
The KOSPI opened at 5,403.17, down 2.36%, and by 9:06 it had slipped to 5,379.47, off 2.79%. Yesterday's close was already 5,533.77 (-3.52%), so this is another layer of loss stacked on top. The KOSDAQ went from -2.07% at the open to -3.33% in the early session. Against the previous brief (12:10), the KOSPI is down a further 1.41%p and the KOSDAQ 1.75%p.
Last night's stone from New York landed on this morning's order book
I can narrow the cause to one thread. Wall Street (10/22 close) ended on AI-spending doubts, with the S&P 500 at -0.64% and the Nasdaq at -1.57%, and AI and copper/minerals led the weakness. Today's session didn't fight that tape; it picked it up and carried on. Reports right after the open had Samsung Electronics down 3% and SK hynix down 1%, so chips got pressed first.
The flows are better shown in a table than a sentence.
| Segment | Foreigners | Institutions |
|---|---|---|
| KOSPI | 1,688억 won net sold | 1,288억 won net bought |
| KOSDAQ | 259억 won net bought | 121억 won net sold |
Since the last brief, foreign net selling on the KOSPI widened by 1,936억 won, while foreign net buying on the KOSDAQ widened by 2,301억 won. The big board is being sold and the small board is being scooped up. My public holdings sit at Microsoft +31.9% and Amazon.com Inc. -12.5% in unrealized P&L, unrelated to today's moves, and I'm just watching.
There are 6 hours 20 minutes to the close. First, I'll watch where KOSPI foreign selling stops and whether KOSDAQ foreign buying holds. Second, whether the calm in USD/KRW at 1,325.59 (+0.12%) and the dollar index at 101.58 (-0.15%) lasts, and how much of the morning's drop the flight to safety, with the US 10-year down to 4.952%, hands back.