Korea's chip rout, a Bitcoin range and a Fed hike hint frame the CPI wait
Chip stocks lead a sharp KOSPI selloff, Bitcoin trades in a tight range below its resistance, and gold waits for US inflation data after a Fed hike signal.
KOSPI breaks its long trend line as AI doubts hit chipmakers
Bitcoin tests $84,000 resistance as Fed comments and CPI loom
Gold waits for US CPI after the Fed signals one more hike
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 |
| Nvidia | 214.13 | -1.43% | +0.11% | +15.08% | +5.54% | no clear pattern |
| Bitcoin | 81,382.15 | -0.15% | +6.52% | -7.00% | +16.63% | weak |
| Gold | 4,181.10 | +0.26% | -4.70% | -3.69% | +0.13% | no clear pattern |
| US dollar index (DXY) | 101.84 | -0.16% | +1.53% | +3.62% | -0.01% | no clear pattern |
| US 2-year Treasury yield | 4.77% | -5 bp | +10 bp | +130 bp | -5 bp | no clear pattern |
Sources (10)
- The 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. SK Hynix closed more than 10% lower. Cointelegraph, Oct 13
- The KOSPI finished the day down 5.4% after shedding 7.4% over two days. Semiconductors led the losses amid fears over AI expenditures and competition from China. Cointelegraph, Oct 13
- Chip stocks slid after the Broadcom boss warned of a casino mentality in AI investing, and declines for Samsung and SK Hynix dragged the Kospi sharply lower. Financial Times, Oct 13
- Chip stocks are heading toward their worst stretch in 16 months as AI fatigue grips the market. MarketWatch, Oct 13
- Bitcoin climbed toward $84,000 after Fed's Williams said he sees no rate hikes in 2027. Korean chipmakers snapped a five-day losing streak. CoinDesk, Oct 14
- Bitcoin rebounded from a low near $81,000 toward $84,000, where a wall of resistance on exchange order books capped the upside. Cointelegraph, Oct 13
- Strive bought 3,311 Bitcoin in the week ending Oct. 9, bringing its total holdings to 32,773 BTC. Cointelegraph, Oct 13
- New York Fed President John Williams reaffirmed his view that the US Federal Reserve may need to raise interest rates once more this year. Cointelegraph, Oct 14
- Gold held a two-day slide as the Fed signaled one more hike, with US CPI in focus. Investing.com, Oct 14
- Gold prices were mixed amid a weaker dollar and subdued oil, with focus now on US CPI data. Investing.com, Oct 13
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