#kospi下跌3.53%重回6000点下方 Korean, Hong Kong, and A-share market closing review (October 30): The same negative Google news, three markets, three different ways of coping
Google’s earnings report dealt a blow to Asia-Pacific, but the wounds varied greatly in severity.
Korean stocks took a real beating.
The KOSPI closed at 5730.74, down 3.48%, after briefly falling below 5600 intraday. KOSPI 200 futures dropped more than 5%, triggering a sell-side circuit breaker. Foreign investors net sold 1.617 trillion won on the main board. SK Hynix fell 7.08%, and Samsung Electronics dropped 3.02%. With semiconductor stocks carrying such heavy weight, there was no outrunning the sell-off. Only pharmaceuticals and Samsung Biologics bucked the trend, as money fled chips for pharma.
Hong Kong stocks put up a fight, but couldn’t hold on.
The Hang Seng Index surged more than 300 points at one stage in the morning, supported by AIA, platform stocks, and domestic-demand plays. In the afternoon, it followed mainland stocks lower and ultimately failed to hold above 23,000. Southbound funds recorded net outflows for the 12th consecutive day, totaling 3.36 billion for the day. SMIC, Alibaba, and CNOOC topped the net-selling list. The Hang Seng Tech Index fell nearly 3%, with AI hardware stocks taking a beating as well.
A-shares were the most divided.
The Shanghai Composite fell 1.44%, losing the 3600 level, while the ChiNext Index dropped 4.13%. Yet liquor stocks saw net inflows of 2.5 billion, with Luzhou Laojiao, Gujing, and Huangtai hitting limit-up. CPO and PCB stocks continued to slump; Eoptolink fell 14.2%, and the sentiment reading plunged straight to a freezing-point low of 20.2.
Korean stocks were right in the eye of the storm, Hong Kong stocks offered a weak safe haven, and A-shares were busy setting off their own landmines. $KORU $SNDK $SOXL
Google’s earnings report dealt a blow to Asia-Pacific, but the wounds varied greatly in severity.
Korean stocks took a real beating.
The KOSPI closed at 5730.74, down 3.48%, after briefly falling below 5600 intraday. KOSPI 200 futures dropped more than 5%, triggering a sell-side circuit breaker. Foreign investors net sold 1.617 trillion won on the main board. SK Hynix fell 7.08%, and Samsung Electronics dropped 3.02%. With semiconductor stocks carrying such heavy weight, there was no outrunning the sell-off. Only pharmaceuticals and Samsung Biologics bucked the trend, as money fled chips for pharma.
Hong Kong stocks put up a fight, but couldn’t hold on.
The Hang Seng Index surged more than 300 points at one stage in the morning, supported by AIA, platform stocks, and domestic-demand plays. In the afternoon, it followed mainland stocks lower and ultimately failed to hold above 23,000. Southbound funds recorded net outflows for the 12th consecutive day, totaling 3.36 billion for the day. SMIC, Alibaba, and CNOOC topped the net-selling list. The Hang Seng Tech Index fell nearly 3%, with AI hardware stocks taking a beating as well.
A-shares were the most divided.
The Shanghai Composite fell 1.44%, losing the 3600 level, while the ChiNext Index dropped 4.13%. Yet liquor stocks saw net inflows of 2.5 billion, with Luzhou Laojiao, Gujing, and Huangtai hitting limit-up. CPO and PCB stocks continued to slump; Eoptolink fell 14.2%, and the sentiment reading plunged straight to a freezing-point low of 20.2.
Korean stocks were right in the eye of the storm, Hong Kong stocks offered a weak safe haven, and A-shares were busy setting off their own landmines. $KORU $SNDK $SOXL
