KOSPI Up 2.24% Despite US Chip Slump of -4.89%: Why?

KOSPI rose 2.24% and KOSDAQ rose 1.38%, so yesterday closed in rebound mode.

The headline gives the answer to why KOSPI jumped.

It was reported that the market overcame the 'Black Monday' fear and climbed.

Retail investor:

"It went up yesterday, so won't it keep going today?"

Overnight US trading is the wild card.

Semiconductors fell sharply.

November 2 KOSPI Close: How Much Did It Rise? (Source: 11/02 confirmed close)

KOSPI: 5,859.08 (+2.24%)

KOSDAQ: 734.36 (+1.38%)

KOSPI closed above the 5,850 level.

A deep-dive report also came out describing this as a rebound after a double-digit decline in October.

Why KOSPI Surged: What Held It Up? (Source: Market Pulse 16:02)

Institutions: 1.2 trillion won bought

Reports say institutional buying lifted semiconductors.

There was also a mention that it had moved past the 'Intel shock.'

NH Investment & Securities said volatility would continue even after the rebound.

What Happened in the US Overnight?

IT and semiconductors: -4.89%

Industrials: -1.60%

Communication services: -1.29%

Energy: +1.91%

Consumer staples: +1.41%

These are US sector moves from the most recent trading day.

Semiconductors fell the most.

There was also a headline that selling tied to Palantir's AI business highlighted pressure on software demand.

Apple was reported to have fallen despite strong earnings.

KOSPI vs. KOSDAQ Today: Where Will It Split?

Yesterday KOSPI rose 2.24% and KOSDAQ rose 1.38%.

Whether large-cap chip names drove the index higher is the first thing to confirm today.

Watch how US chip weakness is reflected right after the open.

Bitcoin and Ethereum weakness headlines are also worth keeping an eye on as risk-appetite gauges.

On Polymarket, bets on a 25bp Fed hike in December stand at 72%.

So, Up or Down?

Pushing down

• US IT and semiconductors, -4.89%, a drag at the open
• Palantir, AI selling, software pressure
• Ethereum, a 16% plunge, ETF outflows

Holding up

• Institutions, 1.2 trillion won bought, chip rebound
• KOSPI, +2.24%, reclaimed 5,800
• November, cited as a turning point for the year-end rally

Just keep these as reference.

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※ This article is for information only and is not investment advice.
※ 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 investment advice.