KOSPI catches its breath just under 7,000 while KOSDAQ finds a second wind

KOSPI is at 6,995.52 right now, up 1.47% and pausing just below the 7,000 line, while KOSDAQ sits at 836.97, up 1.19%. The picture has changed since my 09:10 note. KOSPI's gain has shrunk by 1.19 percentage points since then, and KOSDAQ's has grown by 0.59. KOSPI brushed 7,000 during the session and has since taken a step back.

What's holding KOSPI up is buyers. Foreign investors net bought 448.6 billion won and institutions 1.5322 trillion won, pulling together, and the chip strength from Friday's US close (9/18, Nasdaq up 0.39%) got handed straight over to Korea's big semiconductor names. KOSDAQ tells a different story: foreigners sold 47.8 billion won, but institutions bought 22.6 billion and absorbed it. The won weakening 0.21% to 1,379.53 per dollar is a mild weight in the background.

For the remaining 4 hours and 50 minutes, I'm watching two things. Can KOSPI climb back over 7,000 and hold it into the close, and does the foreign and institutional buying keep going after lunch? I'll also keep an eye on whether the foreign selling in KOSDAQ eases. How fast this morning's buzz cools will tell me what kind of day this really is.