Seoul took the same hit twice. On Tuesday, October 13, the KOSPI closed at 6,035.35 (−5.46%) after touching 5,911.11 intraday. At 9:47 a.m. local time a sell-side "sidecar" kicked in, Korea's brake that pauses program trading when futures fall 5% (the first since August 19). SK Hynix fell 10.09%, Samsung Electronics 7.39%, and foreign investors…
Yesterday's chip sell-off in New York came down to one number. The Financial Times reported that OpenAI's annualized revenue at the end of September was about $50 billion, roughly $20 billion below what the market had been working with, and the Philadelphia Semiconductor Index (SOX) fell 3.4%. Overnight, OpenAI pushed back: Bloomberg reported the company…
★ Seoul sold the index, not memory. KOSPI 6,625.93 (−2.62%) vs SK Hynix −1.97% and Samsung −1.86% (Etoday). Foreigners −₩2.43T, institutions −₩2.10T, retail +₩3.75T. The tech-heavy KOSDAQ fell only 0.69% to 892.27. ★ Tokyo fell for a second day. Nikkei 225 69,042.11 (−1.42%), Topix 4,091.46 (−1.51%) (CNBC), back below 70,000. ★ Waller pushed yields back…
★ Seoul sold more memory, not less. KOSPI 6,803.90 (−1.98%). Foreigners −₩2.60tn (prior day −₩1.75tn), institutions −₩0.67tn, retail +₩2.56tn. SK Hynix −2.82%, Samsung Electronics −1.29%. KOSDAQ −2.34%. ★ Tokyo took profits in chips too. Nikkei 70,035.71 (−0.92%), first drop in three sessions, led by Advantest and Tokyo Electron. Hang Seng 24,131 (−0.6%). Mainland China closed….
★ Seoul listened to Micron, not Nvidia. KOSPI 6,941.39 (−0.89%), losing 7,000 one day after reclaiming it. Foreigners sold ₩1.75T, including ₩1.41T of SK Hynix and ₩567B of Samsung Electronics. SK Hynix −3.69%, Samsung −1.45%. The small-cap KOSDAQ, by contrast, jumped +2.98%. ★ Asian chips split in two. Nikkei 70,683.98 (+1.05%), led by test-equipment maker…
★ Tokyo bought on Seoul's behalf. Nikkei 69,946.86 (+2.40%), briefly above 70,000. TOPIX +1.33%. The driver: October Fed hike odds below 20% (CME, versus 64% a week earlier) plus AI and semiconductor megacaps. ★ Europe has a new problem. EUR/USD 1.1161 (17-month low), French 10-year 4.92%, spread over Germany about 146 bp. Spain calls a…
★ Seoul and Tokyo bought Micron. KOSPI 6,971.35 (+1.95%), reversing from an intraday low of 6,765.06. Samsung Electronics ₩276,000 (+2.79%) · SK hynix ₩1,833,000 (+3.21%) · KOSDAQ 894.29 (+4.48%). Nikkei 68,957 (+2,203 pts). ★ New York hasn't bought it yet. Micron is flat to −1% pre-market. Nasdaq-100 futures +0.6% reflect AI megacaps; Dow futures about…
★ August PCE cooled sharply. Headline +0.3% m/m, 3.4% y/y; core +0.2% m/m, 3.0% y/y. Forecasts were +0.4%/3.7% and +0.3%/3.3%. All four came in below expectations. ★ The Fed had already eased its tone. Williams (9/29): "With the policy action we took at our September meeting, there is no need for urgency." One more hike…
★ Monday was not a chip-only selloff. SOX −1.61% vs Nasdaq −0.92%: a 0.69-point gap, short of our 1-point threshold. Instead, the 10-year closed at 5.24% (5.27% intraday, highest since 2007) and weighed on the whole market. ★ AI has entered the rates story. In a Sept. 28 speech, Governor Cook said the AI buildout…
★ Seoul took the first hit. KOSPI 6,889.74 (−191.18 pts, −2.70%). Foreigners −₩3.23tn, institutions −₩1.02tn, retail +₩2.61tn. Samsung Electronics ₩270,000 (−5.43%), SK Hynix ₩1,768,000 (−5.05%). USD/KRW 1,365.1 (+7.6). The small-cap KOSDAQ actually rose, 846.58 (+0.25%). ★ The new ingredient is "AI slowing down." OpenAI halted training, evaluation and tool-enabled runs of its most capable models…