Paradis says Goldman Sachs and JPMorgan confirm that Tuesday's KOSPI selling was about 95% concentrated in tech, mainly SK hynix and Samsung, with foreign investors selling while Korean institutions and retail bought. For the memory case that reads as foreign de-risking, not local capitulation. The quoted post adds that Korea imports nearly all its crude, so oil spikes weigh on the KOSPI. The bank data comes through Paradis, not the notes themselves.
This has now been confirmed via GS & JPM. - Korean institutions and retail investors were net-buyers on today's dip. - However, their buying activity was not enough to offset heavy tech selling from foreign investors. - In fact, today's KOSPI selling was ~95% concentrated in
Paradis · (@ParadisLabs) · 2026-10-13
The KOSPI sell-off is driven by foreign institutions net-selling SK Hynix and Samsung everyday for the past ~week.
Simply: the trade for foreign institutions has been to Sell Korea, Buy US.
On the flip side, Koreans themselves have been patiently watching and waiting over the same period, although there has been a small rotation away from Memory into Financials. This has accelerated today somewhat, although foreign outflows are a lot more significant.
I'll share more colour on this if I hear more info today.
The Bloomberg/Hock Tan article doesn't help, but it's not the root cause. This sell-off has been building for quite some time.
It's also important to remember that Korea imports ~all its crude, so the escalation in Iran tensions also adds fuel to the fire (literally) as KOSPI still tracks inverse oil price movements unlike US markets.
Paradis says Goldman Sachs and JPMorgan confirm that Tuesday's KOSPI selling was about 95% concentrated in tech, mainly SK hynix and Samsung, with foreign investors selling while Korean institutions and retail bought. For the memory case that reads as foreign de-risking, not local capitulation. The quoted post adds that Korea imports nearly all its crude, so oil spikes weigh on the KOSPI. The bank data comes through Paradis, not the notes themselves.
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