First session after the holiday: KOSPI -2.62%, foreigners net sell 20,767억
Ten minutes after the open, I went straight to the board. KOSPI sits at 6,625.93, -2.62%, and KOSDAQ at 892.27, -0.69%. Against the previous brief (15:10), KOSPI is 1.08%p lower and KOSDAQ 0.25%p lower. It looks like the market is paying off its holiday worries all in one morning.
The Middle East moved while Korea was off
The last US session (10/9 close) ended with the S&P500 at +0.59% and the Nasdaq at +0.64%, cybersecurity strong, space and clean energy weak. That is a finished session's settled number. Seoul did not pick up that thread today; it went against it. Opening reports had KOSPI starting 0.72% lower at 6,578.17, with Samsung Electronics down 1% and SK hynix down 2%, and the Middle East turning worse over the holiday is cited as the backdrop.
| Group | Foreigners | Institutions |
|---|---|---|
| KOSPI | 20,767억 net sell | 16,750억 net sell |
| KOSDAQ | 780억 net buy | 1,075억 net sell |
On KOSPI, foreigners and institutions are selling side by side; on KOSDAQ only foreigners are buying, and lightly. The won sits at 1,342.99 per dollar (+0.29%) and the dollar index at 102.20 (-0.01%), so currency is quiet and, to my eye, big-cap flows are the body of the drop. My public holdings show unrealized P&L of Pungsan -8.7%, KT&G +3.1%, HD Hyundai Electric -22.6% and Orion -12.5% — a running record, not today's move.
There are 6 hours 20 minutes to the close. I'm watching whether the 20,767억 foreign net selling on KOSPI swells or fades, whether the 780억 foreign net buying on KOSDAQ holds, and whether the Middle East news spreads during the session. How much Samsung Electronics and SK hynix claw back will probably set the face of today's index.