Touched 7,000, Now Catching Its Breath — KOSPI Cools Off

Right now KOSPI sits at 6,871.65, up 0.86%, but that gain has shrunk a lot since this morning. Early on it actually poked through the 7,000 mark intraday, riding a five-day winning streak, but compared to my check around 9am, the climb has clearly lost steam. Still, foreigners kept buying over 2.1 trillion won worth on KOSPI and institutions added more than 680 billion, so the index is holding its gains for now. KOSDAQ, meanwhile, flipped the other way — both foreigners and institutions turned net sellers there, dragging it down 1.61%, a complete reversal from where things stood earlier. Wall Street closed higher overnight and set a decent tone, so I'll be watching whether KOSPI takes another run at 7,000 or KOSDAQ's flows turn back before the close.