KOSPI Down 3.59%, Nvidia and AMD Surge: Will Korea Bounce Back Today?

KOSPI down 3.59% in a day!

To read the KOSPI outlook, start with what happened overnight in the US.

Here are the confirmed closes for yesterday (November 3).

KOSPI: 5,648.79 (-3.59%)

KOSDAQ: 704.39 (-4.08%)

Retail investors:

"Everything crashed yesterday, will it bounce back today...?"

Overnight, chip rebound headlines did come out of the US.

But the numbers don't point in one direction.

Why did KOSPI close so hard on November 3? (Source: Market Radar)

The headline is short.

"KOSPI plunges 3.59% on AI stock shock, closes at 5,648"

The single cause cited is the 'AI stock shock.'

KOSDAQ fell even more, down 4.08%.

Both markets dropped around 4% together.

Will the US chip rebound carry over to today's KOSPI?

Headlines from overseas markets around 3 a.m. read:

"Chip stocks lead rebound, Nvidia and AMD surge"

"Nvidia rises despite concerns over its own AI competition, AMD and Broadcom rise together"

That's encouraging news.

But the US sector tally for the latest trading day tells a different story.

Consumer Discretionary: +2.41%

Financials: +1.86%

Materials: +1.76%

IT and Semiconductors: -2.95%

Energy: -3.96%

The headlines say rebound, the sector data says weakness.

The overnight reports were written during US trading hours, so whether the gains held until the close needs separate checking.

That's the first thing to confirm this morning.

Why is the buzz around Palantir and Apple?

Palantir: AI revenue doubled, yet shares fell

Apple: iPhone revenue +18%, but the view is that the stock looks expensive

Strong earnings keep failing to lift share prices.

Expectations are already priced into the stock.

When expectations run high, even good results can look just "fine."

Why is crypto shaking too? (Source: overseas crypto reports)

Bitcoin: steady at $76,900

Bitcoin ETF net outflows: $399 million

Binance outflows: $4.7 billion

Headlines also say institutional investors are pulling out of crypto.

Money across risk assets has turned cautious.

Retail investors:

"So just tell me whether to buy today or not!!!"

I can't do that.

What I'll watch instead is whether large-cap chip stocks follow the US rebound reports right after the open.

That's the first step in reading today's KOSPI direction.

So, up or down?

Bearish side

• KOSDAQ: -4.08%, investor sentiment testing its floor

• US IT and Semiconductors: -2.95%, sector tally still weak

• Palantir: AI revenue doubled yet shares fell, expectations weigh

Bullish side

• Nvidia and AMD: overnight surge reports, a chip rebound signal

• US Consumer Discretionary: +2.41%, some risk appetite remains

• Fed December hold: 78%, rate-change bets lean toward no change

The morning pits yesterday's crash against overnight rebound reports.

For the rest of this week's schedule, check the market calendar.

Please treat this as reference only.

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※ Figures are as of the time of writing and may change.

※ This article is for informational purposes only and is not investment advice.