KOSPI slips to the 6,900s while KOSDAQ grins at +2%, and the gap keeps widening
As of 13:40, KOSPI sits at 6,925.61, down 1.12%, while KOSDAQ is at 916.30, up 2.58%. Against my 12:10 note, KOSPI has slid another 0.28%p and KOSDAQ has climbed another 0.20%p. The two markets walked further apart in the past hour.
Some sold, others caught what fell
| Market | Foreigners | Institutions |
|---|---|---|
| KOSPI | 108.0B won net sold | 415.5B won net bought |
| KOSDAQ | 176.7B won net sold | 93.6B won net bought |
Afternoon headlines say KOSPI was pushed down into the 6,900s by foreign selling. Institutions absorbed 415.5 billion won, yet the index is still at -1.12%, so the foreign supply must have been heavy. KOSDAQ is up 2.58% even after foreigners sold 176.7 billion won, and with the material I have, I won't pretend to know why. The won stands at 1,342.56 per dollar (-1.33%), and the dollar index is at 102.17 (+0.24%).
Last night's US session (10/5 close) gave S&P500 +0.66% and Nasdaq +1.05%, with cybersecurity2 and quantum computing strong. That session is over and settled, but KOSDAQ seems to have inherited its warmth today while KOSPI went against it. My own holdings, for the record only: Microsoft +31.0%, NVIDIA Corporation +9.7%, Freeport-McMoRan Inc. +7.5%, Amazon.com Inc. -12.1%. That is unrealized P&L, not today's move, and not a word about what comes next.
One hour fifty minutes to the close, and what I'm watching
First I'll watch whether the 108.0 billion won of foreign net selling grows or shrinks before the close. Next, whether institutional net buying of 415.5 billion won keeps holding up the 6,900s. For KOSDAQ, the question is whether it keeps its +2.58% after taking 176.7 billion won of foreign selling. Whether the gap that opened since 12:10 narrows or widens, the remaining hours will show.