Korean chips tumble on AI worries while Brent sits near its highs and Bitcoin holds
A chip rout hit KOSPI, oil stayed bid on Hormuz and ceasefire doubts, and Bitcoin held support ahead of CPI.
Big market movesOct 13
KOSPI slides below its long trend line as chip stocks take the hit
5,668.05KOSPI, +2.05% on the day
Supply shocksOct 13
Brent hits $107.25 as the energy ceasefire frays and the IEA eyes diesel
109.86Brent, +3.72% on the day
Big market movesOct 13
Bitcoin defends $82,500 support as CPI and a soft ETF week loom
81,382.15Bitcoin, -0.15% on the day
Markets in this brief
| Market | Last | Day | 1 month | Year to date | Oct average | Oct pattern |
|---|---|---|---|---|---|---|
| KOSPI | 5,668.05 | +2.05% | -15.63% | +34.50% | -0.43% | no clear pattern |
| Nasdaq Composite | 26,140.03 | -2.15% | +0.62% | +12.47% | +0.77% | no clear pattern |
| Brent crude oil | 109.86 | +3.72% | +3.81% | +80.54% | -1.01% | no clear pattern |
| WTI crude oil | 99.02 | +1.07% | -3.33% | +72.45% | -1.77% | no clear pattern |
| Heating oil (ULSD) | 4.7232 | -2.53% | -9.97% | +116.39% | -0.37% | no clear pattern |
| Bitcoin | 81,382.15 | -0.15% | +6.52% | -7.00% | +16.63% | weak |
Sources (12)
- South Korea's KOSPI extended its losses for the week to 7.4% and fell below its 200-day moving average for the first time since late July, with SK Hynix closing more than 10% lower. Cointelegraph, Oct 13
- Foreign investors sold around 173 trillion won ($129 billion) of SK Hynix and Samsung shares since the start of 2026, most of the year-to-date KOSPI sales. Cointelegraph, Oct 13
- Comments by Broadcom's CEO at a conference in Singapore have been cited as a reason for microchip stocks' slumps on both Monday and Tuesday. MarketWatch, Oct 13
- Declines for Samsung and SK Hynix dragged Kospi sharply lower as investors fret over the scale of AI investment. Financial Times, Oct 13
- Brent crude reached $107.25, its highest since Sept. 16, after Iran reported that an oil tanker had been hit and was ablaze in the Strait of Hormuz, while WTI spiked past $94 per barrel. Cointelegraph, Oct 12
- Oil prices fell early Monday after Donald Trump announced an "energy ceasefire" between Russia and Ukraine, which offset a fresh wave of Houthi attacks on Saudi Arabia. Euronews, Oct 12
- The International Energy Agency called on its members to accelerate previously agreed releases from strategic oil reserves, prioritising diesel, and to assess whether additional diesel releases are necessary. Euronews, Oct 12
- US CPI is due on Wednesday and PPI on Thursday, with markets seeing CPI at 3.7% year-on-year after 3.4% in August, ahead of the Federal Open Market Committee's Oct. 28 meeting. Cointelegraph, Oct 14
- Bitcoin sealed a weekly close above key support at $82,500, avoiding a drop into its previous 2026 macro range between $60,000 and $80,000. Cointelegraph, Oct 12
- Bitcoin rebounded toward $84,000 on Tuesday from a low near $81,000, diverging from plummeting Asian tech stocks, with upside capped at $84,000 by a wall of resistance on exchange order books. Cointelegraph, Oct 13
- Spot bitcoin ETFs lost $681 million last week. CoinDesk, Oct 12
- ASML will report its third-quarter earnings before the opening bell in Amsterdam on Wednesday. MarketWatch, Oct 14
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