#日韩股集体大跌 $SKHY $SAMSUNG $SNDK
Today is “-3.17% at the open.” The more useful story is what happened after the open.

1. The open vs the first hour
KOSPI opened at 5,488.41, down 179.64 points from Friday’s 5,668.05. Before the bell, indications had Samsung about 5.8% lower and SK hynix 6.8% lower. By mid-morning Samsung was down roughly 1% and SK hynix 2% to 3%. The index briefly turned positive, touching about 5,705 (+0.66%), before fading back. That’s a swing of about 3.9% from the open (my math). The panic gap got bought. Foreign investors reportedly flipped to net buyers early, then went back to net selling.

2. Where it came from
Friday’s US session: Nasdaq -2.15%, S&P 500 -1.09%. Micron fell 5.63%, Broadcom 4.52%, SK hynix’s US receipts 6.58% and AMD 5.95%. One report calls it the worst week for the S&P and Nasdaq in nearly four months. The stated triggers were doubts about the profitability of AI spending, worries about debt-financed AI buildouts, and expectations of faster rate hikes.

3. The October scoreboard and drawdown math
Reportedly, Samsung fell 19.7% and SK hynix 28.4% between October 1 and Friday, making the KOSPI the worst major index this month. Drawdowns are asymmetric: SK hynix needs about +40% to get back to its October 1 level, and Samsung about +25% (my math). Foreign investors also sold more than 11 trillion won of Korean shares last week.

4. Chart check (levels from my screenshots)

Samsung at 215,500: support at 211,236 (-2.0%), 14-day at 251,500 (+16.7%), 35-day at 257,729 (+19.6%). RSI is 31, down from 33 on Friday.
SK hynix (US receipts) at 136.4: sitting on support at 136.0. The 145.57 support I flagged on Friday failed, and price is now about 6% below it. RSI is 27.6.
Micron at 878.67: support at 876.03, and the 916 level failed too. RSI is 34.
SanDisk at 1,298.8: support at 1,294.9. RSI is 29.7.

An RSI under 30 means stretched, not reversed. The repeated support failures are what I’d respect more.

5. What could push KOSPI lower, and what could steady it
Lower: continued foreign selling, the AI-debt worries and rate-hike expectations. One analyst warns the index could break below 5,000 in a worst case, about 9% under the open (my math), while another projects a 5,200–5,900 range. Steadier: Nasdaq 100 futures were up about 1% on Monday morning, and Samsung is holding up better than SK hynix. Big Tech earnings this week, including Meta and Tesla, are the next catalysts.

6. Levels on the index
The open at 5,488 undercut Thursday’s 5,554 close, and buyers took it back within an hour. To call it stabilization, I need a close back above Friday’s 5,668.

My take: a gap that gets bought is better than one that sells into the close, but it isn’t a trend change yet. The driver is US AI funding fear, not Korea-specific news, so I’m watching US futures, foreign flows and earnings more than the KOSPI chart. I’m not calling a bottom.

Not financial advice.

Do you read the intraday recovery as real dip-buying or just a bounce inside a downtrend? And what would make you trust it: a close above 5,668 or foreign buying?

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