Kospi Rips Back Above 7000 Right at the Open

The bell barely rang and Kospi was already up 3.56% to 6,813.34, punching back through the 7000 line for the first time in three weeks. Compared to my last close-of-day brief, Kospi added another 0.44 points of gain while Kosdaq eased off by 0.12 points to sit at a quieter +0.29%. I'm reading this as Kospi picking up where last night's Wall Street cloud-stock rally left off, and the headlines about institutions and foreigners both piling into big IT names lined right up with the tape — foreigners net bought 2.11 trillion won and institutions another 683.4 billion on the Kospi side, while over on Kosdaq foreigners were net sellers of 136.2 billion, a different mood entirely. In my own book, Microsoft's still my steadiest name at +25.7% while Amazon's the lone one sitting in the red at -7.4%, and what I'm watching now is simply whether that 7000 line holds all the way to the close.