The headline out of New York last night was "Dow drops 628 points." Oil pushed toward $100, Saudi refining capacity was hit in a drone and missile attack, and Canada's retaliatory tariffs on US goods took effect. Read the headlines alone and it looks like an unbroken run of bad news. And yet, on that…
KOSPI closed 6,954.52, down 0.58% (−40.87 points). It opened at 7,045.79, reclaimed 7,000 for the first time in 15 sessions, ran to 7,171.52, and surrendered the entire move. Decliners outnumbered advancers 2.6 to 1. KOSDAQ 811.88 (−1.25%). The three-stage test this briefing set yesterday has its answer. ① intraday break of 7,000 — passed. ②…
Why selling into a 4% up day is harder than it sounds The whole board is lit up and you’re the one hitting sell. I did it anyway today. And when the orders filled, I asked myself a question. Did I just break the rules I wrote down, or did my view actually change? This…
The KOSPI starts today at 6,995.39, making its third run at 7,000. The first two were August 14 (intraday 7,010.86 → close 6,977.94) and August 18 (intraday 7,216.62 → close 6,869.83). Neither held. US stocks and Treasuries were both closed overnight. Even equity index futures halted early, at 13:00 ET. Korea trades this session without…
KOSPI 6,995.39 (+4.61%, +308.18 points). KOSDAQ 822.19 (+1.07%). Samsung Electronics 270,000 won (+5.68%), SK Hynix 1,783,000 won (+8.26%). The won strengthened to 1,340.5 per dollar (−9.9). The fuel came from Friday's US session — but only part of it. On Sept 4: S&P 500 −0.38% (7,718.60), Nasdaq −0.29% (26,506.99), Dow −0.51% (53,414.25), while the SOX…
August payrolls came in at roughly three times the consensus. Nonfarm payrolls +162,000 (consensus +53,000 to +56,000), unemployment steady at 4.1%, average hourly earnings +0.3%. The assumption that the labor market is cooling took a direct hit. The revisions matter more than the headline. July flipped from −23,000 to +21,000, and June was revised up…
All three major US indexes gained more than 1%. S&P 500 7,747.71 (+1.06%), Nasdaq Composite 26,584.06 (+1.40%), Dow 53,686.11 (+1.18%). For the Dow and the S&P, it was the best session since August 4. The driver was a Fed governor, not the data. After Waller signaled he could vote to hold in September, CME FedWatch…
The KOSPI rose, and nobody bought it. Sept 3 close 6,579.48 (+16.76, +0.26%). Retail −955bn won, foreigners −419bn, institutions −215bn — all three real investor groups net sellers — while corporate treasury (share buybacks) took +1.59tn won. The KOSDAQ fell to 790.21 (−1.71%), losing the 800 line. Wednesday's time-zone explanation only half held. Of Wednesday's…
Korea fell 4%. KOSPI closed at 6,562.72 (−273.08, −3.99%), KOSDAQ at 803.98 (−17.27, −2.10%). Foreigners sold a net ₩1.92 trillion and institutions ₩2.04 trillion — about ₩4 trillion combined. Selling concentrated in semiconductors, autos and battery makers. The US rose the same day. The S&P 500 closed at 7,666.68 (+0.46%), the Nasdaq Composite at 26,217.83…
Bonds are the story. US 10-year at 4.79% (+3.5bp, fifth straight gain, highest since January 2025); 30-year at 5.28%. Falling bond prices are pulling equities down with them. This is not a US-only move. Japan's 10-year is at a 30-year high, France's at a post-2008 high, Germany's at a post-2011 high. A genuinely synchronized global…