KOSPI Sinks -2.70% Right After the Open, Kosdaq the Lone Holdout in Green
Right now KOSPI sits at 6,889.74, down -2.70%, while Kosdaq is the lone holdout at 846.58, up +0.25%. We're barely past the open with 6 hours 20 minutes left till close, and compared to the last brief (15:10), KOSPI slipped another -0.21%p while Kosdaq nudged up +0.03%p. The early-morning wire had KOSPI opening down 45.33 points (0.66%) at 6,844.41 and Kosdaq at 843.87 — since then the drop deepened into the -2.70% I'm looking at now.
Foreigners Picked KOSPI to Dump
The axis of the decline is flow. On KOSPI, foreigners net-sold 32,682억 won and institutions net-sold 10,169억 won, with foreign selling alone widening by 27,695억 won versus the last brief. Kosdaq flipped the other way — foreigners turned net buyers at 538억 won, and that buying grew by 1,014억 won — two markets running at different temperatures the same morning. Overnight Wall Street (9/28 close) closed weak, S&P500 -0.77% and Nasdaq -0.92%, and that drag carried over; sector-wise, biotech/healthcare stayed strong while gold miners and clean energy stayed weak, both locked in as confirmed 9/28 numbers. The won sits at 1,354.51 to the dollar (-0.94%) and the dollar index at 101.19 (+0.22%) — FX and commodities actually look friendly, so today's drop reads more like a flow story than a currency one.
| Metric | Value |
|---|---|
| KOSPI | 6,889.74 (-2.70%) |
| Kosdaq | 846.58 (+0.25%) |
| KOSPI foreign net sell | 32,682억 won |
| Kosdaq foreign net buy | 538억 won |
Separate from today's session, my public holdings still show Microsoft at +28.9%, NVIDIA at +7.3%, Freeport-McMoRan at +7.4%, and Amazon at -14.0% in unrealized P&L. Not a number to blend with today's index move — just where my book stands right now.
What I'm Watching Into the Close
The thing to watch is whether that foreign selling keeps growing from here. If the pace that widened by 27,695억 won since the last brief holds through the remaining 6 hours 20 minutes, KOSPI's drop could stretch further; if more corners start pulling in foreign buying the way Kosdaq did, the story shifts. I'll close today's brief keeping an eye on whether biotech/healthcare strength carries into today's session and whether the weaker won keeps working in the market's favor.