Below the 6,000 line, but the hole got shallower in an hour — and it's the foreigners doing the selling
The KOSPI sits at 5,986.02, down 6.24%, and the KOSDAQ at 822.26, down 3.17%. The 6,000 line is still above my head, but against the 12:10 brief the KOSPI has clawed back 1.08%p and the KOSDAQ 2.19%p. I don't read that as 'the bottom is in' — only that the free fall paused for a breath.
The selling hand was mostly one hand
| Group | Foreigners | Institutions |
|---|---|---|
| KOSPI | 20,110억 net sold | 1,338억 net sold |
| KOSDAQ | 130억 net sold | 2,196억 net sold |
The KOSPI's drop was essentially built by foreigners. Their 20,110억 of net selling dwarfs the institutions' 1,338억, and as the midday reports say, SK Hynix fell 10% and Samsung Electronics more than 8%, dragging the index down with them. The KOSDAQ is the mirror image: foreigners sold only 130억 while institutions shed 2,196억. With the fear gauge up 23% and total market cap slipping below 5,000 trillion won, today froze on mood before it did on numbers.
This shock didn't sail in from overseas. Last night's US close (10/12) was tame — S&P500 -0.06%, Nasdaq -0.44% — with staples and energy strong and aerospace and clean energy weak. Korea didn't inherit that tape; it broke against it on its own. The won at 1,342.99 per dollar (+0.29%) and the dollar index at 102.58 (+0.36%) only leaned on it a little. My disclosed holdings read Poongsan -13.0%, Orion -13.2%, KB Financial -9.6%, KT&G +3.6% — I just write those down in the ledger as they are.
One hour fifty to the close — what I'm watching
First, whether the foreigners' 20,110억 of net selling swells or fades. Only if it stops does the recovery since 12:10 become more than a comma. Second, whether institutions keep unloading 2,196억 on the KOSDAQ. I care less about winning back 6,000 than about whether this narrower loss still holds when the closing bell rings.