Big index sagging, KOSDAQ holding: I just watched the foreign hands this morning
KOSPI sits at 6,838.04, down 0.48%, while KOSDAQ is at 855.91, up 0.72%. Against the last brief (15:10), KOSPI has slipped another 0.42%p and KOSDAQ is nearly flat at -0.03%p. That split was the first thing I checked after the open. Only the big index is drooping this morning.
Foreigners sold while institutions propped up KOSDAQ
| Market | Index | Change | Foreigners | Institutions |
|---|---|---|---|---|
| KOSPI | 6,838.04 | -0.48% | 2,064.6B won net sold | 799.3B won net sold |
| KOSDAQ | 855.91 | +0.72% | 71.3B won net sold | 48.2B won net bought |
On KOSPI, foreigners are selling 20,646억 won and institutions another 7,993억 won, so no wonder the index is pinned down. On KOSDAQ, foreigners sold 713억 won, but institutions took in 482억 won and kept it at +0.72%. If I must pick one reason, it's rates. iM Securities argued that even with US inflation cooling, solid growth keeps long-term yields under pressure, and named oil as the swing factor. A story about US Treasuries at 5% matching equity returns runs the same way. I read that burden as feeding the foreign selling in the big index.
Last night's US session (9/30 close) was S&P500 -0.25% and Nasdaq +0.24%, with biotech strong and gold miners and fintech weak. That session is already over, but this morning half-inherited its pattern: heavy up top, resilient below. The won is at 1,350.50 per dollar (-0.67%) and the dollar index at 101.48 (+0.11%). My public holdings stay as they are, at unrealized Microsoft +29.8%, NVIDIA Corporation +7.0%, Freeport-McMoRan Inc. +4.4% and Pungsan +8.4%.
Six hours and twenty minutes remain until the close. First I'll watch whether KOSPI's 20,646억 won of foreign net selling shrinks and whether KOSDAQ's 482억 won of institutional buying continues. Then I'll see if oil gets tied back into the rates talk.