Twenty minutes to the bell, and foreign selling of 17,577억 is leaning on the KOSPI
Right now the KOSPI sits at 6,834.18, down 1.54%, and the KOSDAQ at 902.25, down 1.92%. Against my 13:40 brief, the KOSPI has slipped another 0.50%p and the KOSDAQ another 0.25%p. The slide dug one notch deeper after lunch, and here we are, 20 minutes from the close.
| Index | Level | Change | vs. last brief |
|---|---|---|---|
| KOSPI | 6,834.18 | -1.54% | -0.50%p |
| KOSDAQ | 902.25 | -1.92% | -0.25%p |
One heavy hand on the KOSPI
Foreigners sold a net 17,577억 won on the KOSPI. Institutions sold only 37억, so nearly all the weight of this drop rests on the foreign side. On the KOSDAQ, foreigners bought a net 1,151억 and institutions 1,082억, and the index still fell 1.92%. Buyers showed up and could not stop it.
One headline caught my eye: the dollar at an 18-month high, as a possible Fed hike firms up. But today the won-dollar rate was nearly flat at 1,343.75 (+0.09%), and the dollar index was 101.83 (-0.33%). That dollar strength doesn't show up clearly in today's numbers, so I'm noting that the currency is thin evidence for the foreign selling.
Last night's US session (10/6 close) rose, with the S&P 500 up 0.58% and the Nasdaq up 0.45%, led by cybersecurity and utilities. The KOSPI did not inherit that tailwind. It ran against it. But that is a finished session's settled figure, nothing more.
What I'm watching into the closing auction
For the last 20 minutes I'm watching two things. One is how the 17,577억 foreign net selling on the KOSPI changes right up to the bell. The other is whether the foreign and institutional net buying on the KOSDAQ holds to the end. My public holdings stand at ConocoPhillips +2.0%, KT&G +3.1%, Coca-Cola Co -1.1% and HD Hyundai Electric -19.9%. I'm logging them as they are and watching where this session closes.