KOSPI Bounced, KOSDAQ Still Down 2.59% — Foreigners Split the Afternoon
At 1:40 PM, KOSPI sits at 5,483.16, down 0.91%, and KOSDAQ at 744.29, down 2.59%. Compared with the 12:10 brief, KOSPI has climbed 1.16 points and KOSDAQ 0.84 points, so the losses have shrunk. KOSDAQ is still deep underwater, though. There are 1 hour 50 minutes left to the close.
Index up, foreigners selling more
The flows look odd. Foreigners are net sellers of 947.7 billion won on KOSPI, 57.1 billion more than at the last brief. The index still bounced because institutions are net buying 695.2 billion won. On KOSDAQ it runs the other way: foreign net selling has narrowed to 41.2 billion won, with 16.8 billion of net buying added since the last brief. But institutions are net sellers of 60.7 billion there, so the rebound lacks KOSPI's push.
| Segment | Foreigners | Institutions |
|---|---|---|
| KOSPI | 947.7B net sell | 695.2B net buy |
| KOSDAQ | 41.2B net sell | 60.7B net sell |
On the news side, the headline that stands out is the 6.7% plunge in US semiconductors. The same report says KOSPI threatened the 5,300 line before recovering to the 5,400s, and that SK hynix turned positive. Last night's US session (10/22 close) saw the S&P 500 down 0.64% and the Nasdaq down 1.57%, with AI and copper/minerals weak, and today's market inherited that mood. It has cut its losses from the morning and is holding on. Another story says tech stocks fell together on worries about the scale of AI spending, which fits the same picture. The won is at 1,325.59 per dollar, up 0.12%, so currency isn't shaking things much.
My book just watches quietly
My public holdings show Shinhan Financial -6.5%, Poongsan -17.3%, KT&G +8.8% and Orion -8.0%. These are accumulated gains and losses, not today's moves. I'm spending more time staring at the flow table than fiddling with the book.
Two things I'll watch into the close. One is whether the institutions' 695.2 billion won of net buying can keep holding the index if foreign net selling of 947.7 billion won keeps growing. The other is whether foreign net buying continues on KOSDAQ and how much it narrows that 2.59% drop. I'm also watching whether last night's US shock spreads again this afternoon.