Kospi -1.22%, 20 Minutes to Close: The Weight of a KRW 32,682-eok Foreign Sell-Off

Right now, with 20 minutes left on the clock, the Kospi is sitting at 6,805.88 (-1.22%), and the Kosdaq at 841.28 (-0.63%). Compared with my last brief at 13:40, the Kospi has slid another -0.30%p while the Kosdaq barely moved at -0.01%p. I'm not glossing over that gap — while the Kosdaq held its ground, the Kospi alone dug its losses deeper.

Foreign investors dumped harder in the final stretch

Overnight on Wall Street (9/28 close), the S&P 500 fell -0.77% and the Nasdaq -0.92%, and today's Kospi looks like it simply inherited that drop. Flow data piled on top of it.

On the Kospi, foreigners sold a net KRW 32,682-eok, and institutions piled on with 10,169-eok of their own — no wonder the losses widened. The Kosdaq, meanwhile, got a floor from foreigners buying a net 538-eok, keeping its drop capped at -0.63%. The won sits at 1,354.51 (-0.94%) while the dollar index actually rose to 101.20 (+0.23%) — a divergence worth noting — and Japan's 40-year bond auction landing at a 4.125% yield (up 26bp from 3.865% in July) added one more reminder that rate pressure hasn't gone anywhere.

A different story from today's tape: my own book

My public holdings are marked at unrealized P&L, not today's price action.

Microsoft is still sitting at +28.9%, while Amazon is the lone straggler at -14.0%. Overnight, biotech/healthcare led and gold miners/clean energy lagged on Wall Street (9/28 close) — that doesn't map cleanly onto what I'm holding, so I'll just note it and move on.

With 20 minutes left, there's really one thing I'm watching. Does the Kospi's -0.30%p widening from the last brief keep stretching into the close, or does it find the same kind of foreign-buying floor that held the Kosdaq? Whether that 32,682-eok in net selling keeps piling up on the final order book should give me the answer.