★ Wall Street dumped chips. SOX −6.72%, Micron −6.3%, Nvidia −4.40%, Western Digital −6.43%. Nasdaq −2.60% (worst since June), S&P 500 −1.21%. ★ But the Dow closed higher (+0.02%). Staples +3.31%, utilities +2.07%, health care +1.32%; tech −3.29%. Money rotated out of AI rather than leaving the market. ★ Oil hit a five-month high while…
★ Seoul reversed in one day. KOSPI 5,735.66 (+3.29%), KOSDAQ 792.76 (+1.38%). Foreigners net bought about KRW 660 billion, mostly Samsung (KRW 472bn) and SK hynix (KRW 200bn). The won strengthened to 1,325.2 per dollar, its strongest close in about two years. ★ The catalyst was exports. Oct 1–20 exports $61.6bn (+105.4%), chips $27.5bn (+222.5%),…
★ New York rotated out of AI instead of dumping it. Dow +1.02%, Russell 2000 +1.65%, S&P 500 +0.28% (7,712.57), Nasdaq −0.02%, Nasdaq 100 −0.13%. Health care (Merck and Amgen each +3.3%) and old-economy names with strong earnings (3M +5.78%) did the lifting. ★ Chips held up, but memory was weak. SOX about −0.29%, Nvidia…
★ Seoul took the AI doubt first. KOSPI 5,552.74 (−3.73%), KOSDAQ 781.97 (−3.33%). Foreigners −₩530–538bn, institutions about −₩1tn, retail +₩898bn. SK Hynix −4.23% (−7.36% intraday), Samsung Electronics −2.98%. ★ Elice's debut: about −32%. Priced at ₩90,500 (top of range), raising about ₩201bn ($151m). An AI data-center flop landed on the same day as renewed CoreWeave…
★ Chips came back, and yields took half of it. SOX +1.61% (the prior eight sessions cost 15.7%), Nasdaq +1.11%, S&P 500 +0.41%, Dow 51,966.03 (−0.07%). The Nasdaq 100 trimmed a 2%+ intraday gain to +1.17%. ★ The US 10-year is back at 5.14–5.15%. Up roughly 5bp from about 5.08% in the morning. The 2-year…
★ Seoul reversed about five points in one day. KOSPI opened at 5,488.41 (−3.17%) and closed at its high, 5,768.01 (+1.76%). Foreigners +₩624.8bn (second straight day), institutions +₩878.9bn, retail −₩1.93tn. ★ But chips were not the engine. Samsung SDI +11.70%, Samsung Biologics +8.7–9.9%, LG Energy Solution +6.7–7.2%, Hyundai Motor +4.3–4.5%, versus Samsung Electronics +1.16% and…
★ Friday in New York was about AI debt plus oil. Nasdaq −2.15%, SOX −3.83% (8 straight down days), CoreWeave −11.91%, Micron −5.63%, AMD −5.95%. S&P 500 7,659.44 (−1.09%), Dow −0.34%, Russell 2000 −1.66%. ★ Rates stayed quiet. 10-year 5.09% (+2–3bp), 2-year about 4.72%, dollar index 101.80 (−0.3%). CME October hike odds 28% → 17%….
★ A 0.3% core print put an October hike back on the table. Headline 3.7% (vs 3.6%), core +0.3% m/m (vs 0.2%) and 2.6% y/y. October hike odds went from ~22% to ~50% (44–54%). ★ The 2-year moved more than the 10-year. 2-year up about 12bp to ~4.92% 🟡, 10-year near 5.29% (+7–9bp). The 2s10s…
★ Seoul caught its breath first. KOSPI 5,668.05 (+2.05%), KOSDAQ 794.78 (+4.46%). Foreigners bought a net ₩343 billion, ending an eight-day, roughly ₩18 trillion selling streak. But the KOSPI gave back half of an intraday gain of over 4%. ★ The won is at a two-year high. USD/KRW 1,331.4 (−13.2), the lowest since October 2024….
Seoul took the hit a day late, and much harder. On Wednesday 10/14, a hotter-than-expected US September consumer price index (CPI) sent the Nasdaq down 1.88% and the Philadelphia Semiconductor Index (SOX) down 4.30%. A few hours later, Korea's KOSPI collapsed 7.57% to 5,554.22. It fell more than 9% intraday, triggering a circuit breaker (a…