KOSPI Erases Most of 4.1% Drop as SK Hynix Gains 2.5% and Brent Reaches $114
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Executive Summary
- ✦KOSPI recovered about 3.49% from its session low, reducing an early 4.12% fall to 0.76%.
- ✦SK hynix gained 2.53%, while Samsung recovered to within 0.58% of Thursday's close.
- ✦Brent reached $114 and WTI held above $100, while gold retested the $4,000–$4,018 support zone.
- ✦Nikkei remained 1.00% lower and Nasdaq-100 futures slipped just below their new-session reference.
KOSPI Erases Most of 4.1% Drop as SK Hynix Gains 2.5% and Brent Reaches $114
South Korea's KOSPI completed another leg of its intraday recovery on Friday, reducing an early 4.12% fall to just 0.76% in delayed late-morning data. SK hynix led the reversal with a 2.53% gain, while Samsung Electronics recovered to within 0.58% of Thursday's close.
The rebound was strong enough to change the immediate risk picture, but not strong enough to confirm a full daily reversal. The KOSPI remained below Thursday's 5,533.77 close, the Nikkei was still 1.00% lower and US equity futures had slipped back towards or below their new-session references. Meanwhile, Brent reached $114 and gold fell again towards the support zone above $4,000.
This updates our earlier KOSPI rebound analysis, when the index was still down 1.31% and SK hynix was up only 0.74%.
Market snapshot: KOSPI and Korean shares were sampled from delayed Yahoo Finance one-minute data around 04:42 UTC on 23 October 2026 (10:42 Bangladesh time). Japan prices were sampled around 04:47 UTC; futures around 04:52 UTC; Bitcoin and USD/JPY around 05:02 UTC. US equity, gold and oil prices are December 2026 futures. Asian cash markets remained open, so the official close may differ.
Late-morning market snapshot
| Market | Latest sampled price | Change from reference close | Important session levels |
|---|---|---|---|
| KOSPI | 5,491.46 | -0.76% | 5,305.98 low / 5,502.20 high |
| Nikkei 225 | 62,275.70 | -1.00% | 61,462.61 low / 62,681.88 high |
| Samsung Electronics | ₩213,250 | -0.58% | ₩203,500 low / ₩214,500 high |
| SK hynix | ₩1,254,000 | +2.53% | ₩1,171,000 low / ₩1,263,000 high |
| SoftBank | ¥4,169 | -3.16% | ¥3,962 low / ¥4,184 high |
| Nasdaq-100 futures | 29,128.75 | -0.05% | 29,142 reference |
| Gold futures | $4,017.70 | -1.05% | earlier $4,000.90 low |
| Brent futures | $114.00 | +0.73% | earlier $114.67 high |
| WTI futures | $100.37 | +0.90% | earlier $100.97 high |
| Bitcoin spot | $81,538 | +0.27% | $81,012 low / $81,913 high |
Asian-share changes use the previous cash close. Futures, FX and Bitcoin use the data provider's new-session reference. Quotes are delayed analytical references, not executable prices.
KOSPI recovers nearly 3.5% from the low
The KOSPI rose about 3.49% from its 5,305.98 session low to the latest sample. It also moved above the 5,475.94 rebound high recorded in the previous hour and reached 5,502.20.
That progression matters because it shows buyers absorbing more than a single opening bounce. A fresh Associated Press report sampled the KOSPI earlier at 5,403.32, down 2.4%; the later delayed market feed showed another substantial improvement. The two figures refer to different timestamps, illustrating how quickly the session changed.
The recovery was again concentrated in major chip shares. SK hynix traded 2.53% above Thursday's close and had reached ₩1,263,000. Samsung touched its ₩214,500 previous close before easing to ₩213,250. Strong leadership from both shares would be more convincing than an index rebound led by only one heavyweight.
The remaining test is Thursday's KOSPI close near 5,534. Until the index holds above that level, Friday's daily candle still represents a loss and the recovery remains counter-trend on the day.
Japan improves, but does not match Korea
The Nikkei recovered from 61,462.61 to 62,275.70, reducing its decline to 1.00%. SoftBank also cut an earlier 6.09% loss to 3.16%. That is a meaningful improvement, but Japan remained weaker than Korea and the Nikkei stayed below its 62,681.88 session high.
Japan's September headline and fresh-food-excluding CPI both reached 2.1% year on year. USD/JPY near 157.04 showed a slightly weaker yen against the new-session reference, keeping the 29–30 October Bank of Japan meeting relevant for both currency and equity risk.
Oil stays firm while gold retests support
Brent reached $114.00 in the latest sample after trading as high as $114.67 earlier. WTI was back above $100 at $100.37 after the previous hour's failed first holding test. The oil structure remains constructive while WTI holds above $100 and Brent stays above $113.17, but a decisive WTI break above $100.97 is still needed to confirm renewed momentum.
Gold moved in the opposite direction. December futures fell to $4,017.70, revisiting the support zone above the earlier $4,000.90 low. The first rebound from $4,001 did not reclaim the $4,060.40 reference, so buyers still lack confirmation. A daily break below $4,000 would weaken the stabilisation case; a move back above $4,060 would repair it.
US futures and Bitcoin do not fully confirm the Asia rebound
Nasdaq-100 futures fell to 29,128.75, just below the 29,142 new-session reference. S&P 500 futures were 0.14% lower and Dow futures 0.29% lower. The KOSPI recovery therefore had not yet translated into a broad US futures rebound.
Bitcoin remained 0.27% higher near $81,538, but had pulled back from $81,913. It is holding above its $81,012 session low without breaking the upper boundary. The crypto signal is neutral-to-firm rather than a confirmed risk-on breakout.
The Money Man View: next one to three sessions
Base case: Korea has moved from liquidation towards stabilisation, led by SK hynix. The scale of the recovery from the low is constructive, but KOSPI 5,534 and Samsung's previous close must be reclaimed before the daily structure becomes stronger. Firm oil and weak gold keep inflation and liquidity risks in the picture.
Bullish scenario: KOSPI closes above 5,534, SK hynix clears ₩1,263,000 and Samsung holds above ₩214,500. Confirmation would improve if the Nikkei reclaims 62,682, Nasdaq-100 futures recover 29,142 and Bitcoin breaks $81,913.
Bearish scenario: KOSPI fails below 5,502 and loses 5,400, while SK hynix falls back below ₩1,223,000. A Nikkei move below 61,463, gold below $4,000 or Nasdaq-100 futures below the recent 29,118 area would show that the recovery remains fragile.
What invalidates the stabilisation view: a renewed KOSPI break below 5,306, accompanied by both Samsung and SK hynix making fresh session lows, would invalidate the idea that the opening liquidation has been absorbed.
Levels to monitor
- KOSPI 5,502 intraday high and 5,534 previous close.
- SK hynix ₩1,263,000 high and ₩1,223,000 previous close.
- Samsung's ₩214,500 previous close.
- Nikkei 62,682 resistance and 61,463 session low.
- Brent $114.67 and WTI $100.97.
- Gold $4,000–$4,018 support and $4,060 recovery level.
- Bitcoin's $81,012–$81,913 session range.
Sources and methodology
The broader market context and earlier intraday readings were checked against the fresh Associated Press Asia market report. Japan's inflation figures come from the Statistics Bureau of Japan's official September CPI release.
Latest prices and intraday levels were sampled from Yahoo Finance one-minute chart data for Asian indices and shares, US equity futures, gold, Brent, WTI, Bitcoin and USD/JPY. Cash-market quotes are delayed and provisional until the official close.
This market analysis was prepared with AI-assisted research and writing under The Money Man editorial workflow. It is educational information, not personalised investment advice. Delayed quotes may differ from executable prices, markets can reverse quickly and no scenario guarantees a return.