Nvidia's Tailwind Lifts Kospi 1.75%, and I'm Still on the Sidelines

Kospi closed up 1.75% and Kosdaq added 0.56%, both ending the day with a smile. Nvidia's earnings landed way better than expected after the close, with talk of next year's revenue jumping 70%, and the stock popped in after-hours trading — a mood that seemed to seep into our market even before the numbers hit home here. On top of that, KB Securities teased a double surprise for Samsung Electronics, both on earnings and shareholder returns, adding extra shine to the bellwether. On the flow side, foreigners sold off 114.8 billion won worth of Kospi shares, but institutions bought back 761.5 billion won, more than covering the gap and letting the index climb without a wobble. Kosdaq wasn't so lucky — both foreigners and institutions turned net sellers there, capping the gain at roughly half of Kospi's, with cybersecurity names looking especially weak. With rates and credit conditions staying calm and friendly, today's tailwind feels less like noise and more like a continuation of the trend — though for now, I'm holding nothing and just watching from the sidelines.