From BigGo Finance · BigGo Finance · · 1m 10s
KOSPI Rebound Signals After 7-Day Crash
KOSPI expected to open 3.9% higher after overnight futures surge as U.S. equities rebound.
In brief
KOSPI expected to open 3.9% higher after overnight futures surge as U.S. equities rebound. KOSPI rebounds after 7-day crash with 21% drop, aided by U.S. equities and CoreWeave's market confidence. Originally reported by BigGo Finance.
KOSPI Plunges 7.57%
KOSPI closed at 5,554.22, down 454.59 points (7.57%) from previous session.
Seven-Day Decline Streak
KOSPI fell for seven consecutive sessions, a 21% drop since October 6.
KOSPI 200 Futures Surge
KOSPI 200 overnight futures closed up 3.90% at 894.90.
Global Market Selloff
Japan's Nikkei 225 fell 4.90%, Taiwan's TAIEX slid 3.41% same day.
Foreign Investors Sell
Foreign investors posted net sell position of 3.634 trillion won (2.7 billion USD).
CoreWeave Shock
CoreWeave's bonds fell below 80 cents on dollar signaling default risk.
U.S. CPI Data
U.S. September CPI rose 3.7% year-over-year, exceeding market expectations.
U.S. PPI Data
U.S. September PPI rose 1.3% month-over-month, far above consensus.
Nvidia CEO Remarks
Nvidia CEO Jensen Huang stated CoreWeave's competitiveness is strengthening.
Brokerage Rebound Views
Seo Sang-young: Strong upward open expected due to bargain-hunting inflows.
Rebound Magnitude
Rebound size depends on foreign flows and won-dollar exchange rate.
The short version
KOSPI rebounds after 7-day crash with 21% drop, aided by U.S. equities and CoreWeave's market confidence.
