KOSPI Slides 3.58% Intraday, Is the Alphabet Shock to Blame?

KOSPI fell 3.58% intraday, and the 5,700 level wobbled.

The headline points to the Alphabet shock as the main reason behind the KOSPI drop.

These figures are as of the 9:48 AM report on October 30.

Retail investor:

"I woke up and chips tanked again..."

Yes. Today, chips took the first hit.

It is now 14:30. All intraday figures below are the values at the time each report was published.

Why Is KOSPI Falling, Is It Alphabet? (Source: 10/30 headlines)

09:48 headline: Chip stocks tumble on Alphabet shock

10:02 headline: KOSPI opens lower as US tech weakness weighs

KOSPI intraday decline: -3.58% (as of 09:48 report)

The details of the Alphabet shock cannot be known from the headlines alone.

What is confirmed is that US tech weakness dragged on the open, and chip stocks wobbled first.

Where Does KOSPI Stand Versus Yesterday?

KOSPI: 5,937.66 (-1.24%, confirmed close on 10/29)

KOSDAQ: 753.23 (-2.34%, confirmed close on 10/29)

It was already down yesterday.

On top of that, today's intraday -3.58% landed.

At the 14:30 collection time there is no confirmed close for today, so check the final number after the market closes.

What Are FX and US Sectors Saying?

USD/KRW: 1,337.5 won, up 0.7 won (as of 10:06 report)

US IT and semiconductors: +0.80% (sector move on the latest trading day)

US utilities: -0.84%, real estate: -0.73%

The won edged higher even as the dollar weakened.

The US sector table reflects the latest trading day, so it may not match this morning's Alphabet shock in timing. Read them together with care.

Where Is Money Going Besides Chips?

Bitcoin ETFs: 3 straight trading days of net inflows (13:38 report)

Bitcoin ETF net inflow: 23 billion (13:20 report), while Ethereum ETFs saw outflows for a 4th day

Money is flowing into one side of risk assets.

However, on Polymarket, the "No" bet on a Fed cut of 50bp or more after December stands at 100%.

Rate expectations are leaning one way, and that is all this tells us.

So, Up or Down?

Pressing down

• Alphabet shock - KOSPI -3.58%, chip weakness
• KOSDAQ - previous day -2.34%, decline continues
• FX - 1,337.5 won, +0.7 won, pressure remains

Holding up

• US IT and semiconductors - +0.80%, strong on the latest trading day
• Bitcoin ETFs - 3 days of net inflows, risk appetite
• Palantir - AI demand hopes, report cites upside outlook

I start by checking whether today's final close and the chip stock decline narrow.

For reference only.

PickStock

• Investment decisions and responsibility rest with the investor.
• Figures are as of the time of writing and may change.
• This article is for information only and is not an investment recommendation.

This article is for information only and is not an investment recommendation.