Asia chip rout trips KOSPI breaker as hot CPI hits gold and bitcoin
A tech sell-off spread across Asia after hotter US inflation lifted rate hike bets. Gold and bitcoin also fell.
Big market movesOct 15
KOSPI trips a circuit breaker as the AI chip sell-off deepens
5,668.05KOSPI, +2.05% on the day
Economic dataOct 15
Hot US CPI lifts rate hike bets and knocks gold lower
4,181.10Gold, +0.26% on the day
Big market movesOct 15
Bitcoin slips after hot CPI as crypto liquidations near $1 billion
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 |
| Nikkei 225 | 65,324.29 | +1.39% | +2.19% | +29.77% | +0.40% | no clear pattern |
| Gold | 4,181.10 | +0.26% | -4.70% | -3.69% | +0.13% | no clear pattern |
| US 10-year Treasury yield | 5.10% | -9 bp | +10 bp | +92 bp | -1 bp | no clear pattern |
| Bitcoin | 81,382.15 | -0.15% | +6.52% | -7.00% | +16.63% | weak |
| Ether | 2,399.80 | -0.83% | -1.93% | -19.12% | +6.73% | no clear pattern |
Sources (11)
- Sharp falls triggered a trading halt on South Korea's Kospi, and Japan's Nikkei 225 sank 5%, following Wall Street lower. Financial Times, Oct 15
- South Korea's KOSPI triggered a circuit breaker in a tech rout that sent Asia stocks tumbling. Investing.com, Oct 15
- Taiwan Weighted closed down 3.41%. Investing.com, Oct 15
- Chip stocks slid after the Broadcom boss warned of a casino mentality in AI investing, and declines for Samsung and SK Hynix dragged Korea's Kospi sharply lower. Financial Times, Oct 13
- US inflation rose to 3.7% in the year to September, up from 3.4% in the 12 months to August and above forecasts, driven by higher petrol prices. BBC, Oct 14
- The gasoline index rose 9.1 percent in September, and core CPI came in at 2.6% year-on-year, 0.1% higher than anticipated. Cointelegraph, Oct 14
- Bond yields targeted new 24-year highs on the back of the hot US CPI report. Cointelegraph, Oct 14
- Spot gold slipped 1.5% as the hot CPI report boosted Fed October rate hike expectations. Investing.com, Oct 14
- Bitcoin dropped to $81,926 after September CPI came in at 3.7% against expectations of 3.6%. Cointelegraph, Oct 14
- Nearly $1 billion in crypto bets were liquidated as bitcoin, ether and XRP slid. Ether accounted for nearly 60% of the forced closures across the two largest cryptocurrencies. CoinDesk, Oct 15
- Bitcoin climbed toward $84,000 after Fed's Williams said he sees no rate hikes in 2027. CoinDesk, Oct 14
Questions, ideas or corrections?
Write to us. We read every email.
Not investment advice. Market Seasonality publishes historical statistics, news summaries and scenario analysis for information and education. Past patterns do not guarantee future results. Nothing here is a recommendation to buy, sell or hold any asset, and scenarios describe possible paths without predicting them. See the disclaimer and methodology.