Sold Into Good News: KOSPI -1.85% This Afternoon

Right now KOSPI sits at 6,677.82, down 1.85%, and KOSDAQ at 889.21, down 1.03%. Since the 12:10 brief, KOSPI has slipped another 0.91%p and KOSDAQ another 0.53%p. It looked like it was holding before lunch, but the drop deepened this afternoon, with 1 hour 50 minutes left to the close.

Good earnings, and they still sold

The driver here is flows. This is what I jotted down today.

Samsung Electronics topped 107 trillion won in Q3 operating profit, and the stock still stepped backward. When foreigners and institutions sell together in both markets, even good news can't hold the index up. LG Energy Solution winning back the 400,000-won level stood out, but it wasn't enough to turn the whole tape around.

Not quite last night's script

Last night's US session (10/7 close) saw the S&P 500 and Nasdaq both at -0.22%, with utilities and cybersecurity firm and biotech soft. That was a mild, finished session, and today KOSPI didn't so much follow it as fall much harder against it. The dollar index is at 102.24 (+0.40%) while USD/KRW is 1,339.74 (-0.30%), and the real-economy data feels like it's losing steam. My public holdings, marked to market: ConocoPhillips +2.0%, Coca-Cola -1.1%, Procter & Gamble -0.4%, Orion -13.4%. That's the valuation so far, not today's move.

For the remaining 1 hour 50 minutes, I'm watching first whether the 26,188억 of foreign selling keeps growing or finally stops. I'll also see whether KOSDAQ's shallower -1.03% holds its gap to KOSPI. This is a paper-trading log, not investment advice.