KOSPI Jumps 4% as Fading Rate-Hike Fears Send Foreign Money Pouring In

Right now KOSPI is up 4.07% at 6,846.50, and KOSDAQ is up 0.95% at 867.09. Compared to the 9:10am brief, KOSPI has added 0.39 points and KOSDAQ 0.83 points, so the buying hasn't cooled off all morning — if anything it's picking up. Foreigners bought a net 2.8354 trillion won worth of KOSPI stocks, and behind that is overnight news that US inflation looked tame enough to ease worries about more rate hikes — copper even hit a fresh record high on that risk-on mood, and it feels like that same wave rolled into our market this hour. KOSDAQ, though, is holding its gain even as both foreigners and institutions sell there, and the won ticked down slightly to 1,412.18 per dollar; in my own book, Poongsan stands out at +17.4% while the rest sit quiet. Into the close I'm watching whether this buying keeps its legs, and whether that KOSDAQ flow mismatch turns into real drag.