KOSPI Rebounds From a 4.1% Drop as SK Hynix Turns Positive and WTI Retakes $100
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Executive Summary
- ✦KOSPI recovered from a 4.12% early decline to a 1.31% loss in delayed intraday data.
- ✦SK hynix reversed from a 4.25% fall to a 0.74% gain, while Samsung narrowed its loss to 1.75%.
- ✦Nikkei remained 1.40% lower and SoftBank lost 4.95%, so regional stress has not disappeared.
- ✦WTI retook $100 while gold tested $4,017.80, reinforcing the mixed cross-asset picture.
KOSPI Rebounds From a 4.1% Drop as SK Hynix Turns Positive and WTI Retakes $100
South Korea's stock market staged a sharp intraday recovery on Friday morning. The KOSPI fell as much as 4.12%, but had reduced the loss to 1.31% in delayed data sampled later in the session. SK hynix made the most striking reversal: it recovered from an early 4.25% decline to trade 0.74% higher than Thursday's close.
The rebound has improved the immediate tone, but it has not yet repaired the daily trend. Japan's Nikkei 225 remained 1.40% lower, SoftBank was down 4.95%, gold tested $4,017.80 and WTI crude moved back above $100. The mix still points to high volatility rather than a clean risk-on reversal.
This is a material update to our opening analysis, when the KOSPI was down 2.94% and SK hynix was still 2.21% lower.
Market snapshot: Asian cash prices were sampled from delayed Yahoo Finance one-minute chart data between 01:41 and 01:47 UTC on 23 October 2026 (07:41–07:47 Bangladesh time). Futures were sampled around 01:52 UTC and Bitcoin and USD/JPY around 02:02 UTC. US equity, gold and oil quotes are December 2026 futures. Prices can change quickly and the Asian cash session remains open.
What changed during the second hour
| Market | Latest sampled price | Change from reference close | Session range |
|---|---|---|---|
| KOSPI | 5,461.46 | -1.31% | 5,305.98–5,465.24 |
| Nikkei 225 | 62,024.54 | -1.40% | 61,462.61–62,681.88 |
| Samsung Electronics | ₩210,750 | -1.75% | ₩203,500–₩211,000 |
| SK hynix | ₩1,232,000 | +0.74% | ₩1,171,000–₩1,237,000 |
| SoftBank | ¥4,092 | -4.95% | ¥3,962–¥4,134 |
| Nasdaq-100 futures | 29,161.25 | +0.07% | delayed futures quote |
| Gold futures | $4,021.30 | -0.96% | $4,017.80–$4,118.70 |
| Brent futures | $113.92 | +0.66% | $110.59–$114.03 |
| WTI futures | $100.18 | +0.71% | $97.90–$100.24 |
| Bitcoin spot | $81,161 | -0.19% | $81,012–$81,649 |
Changes use the previous cash close for Asian shares and the data provider's new-session reference for futures, FX and Bitcoin. These are delayed analytical references, not executable prices.
Korea's rebound is real, but confirmation is incomplete
The KOSPI recovered roughly 155 points, or 2.93%, from its early low. Samsung Electronics also improved from a 5.13% opening decline to a 1.75% loss. SK hynix went further and crossed above Thursday's close.
That change matters because the KOSPI is heavily influenced by its two largest chip shares. A recovery led by SK hynix is stronger evidence than an index bounce caused only by defensive sectors. Even so, one intraday reversal does not erase Thursday's 3.52% KOSPI decline or the broader questions around the cost and profitability of AI investment.
The first confirmation level is the sampled session high at 5,465. A sustained move above it would show that buyers can extend the rebound. Thursday's close near 5,534 is the more demanding test: the index remains below it, so the daily candle is still negative.
Japan remains the weaker part of the rebound
The Nikkei recovered from an early low of 61,462.61, but remained 1.40% below Thursday's close. SoftBank's 4.95% decline kept pressure on the technology-heavy index.
Japan also reported that September headline inflation and CPI excluding fresh food both accelerated to 2.1% year on year, while the measure excluding fresh food and energy reached 2.4%. The official figures add policy sensitivity ahead of the Bank of Japan's 29–30 October meeting. USD/JPY was near 156.88 in the later snapshot, slightly above the new-session reference, so the earlier yen-strength signal had faded.
Oil above $100 while gold tests support
WTI recovered from a $97.90 session low to $100.18, just below the sampled $100.24 high. Brent reached $113.92. Holding above $100 would keep energy costs and inflation risk in view, while a return below Thursday's $99.47 reference would turn the move into another failed breakout.
Gold moved in the opposite direction. December futures fell to $4,021.30 after testing $4,017.80, nearly 1% below the provider's reference. Gold is therefore behaving as a source of liquidity rather than a simple safe haven in this snapshot. A break below $4,017.80 would expose the psychological $4,000 area; recovery above $4,060 would be needed to regain the prior reference.
Bitcoin held inside a relatively narrow early range and was 0.19% lower near $81,161. It has not confirmed either the equity rebound or a new risk-off leg.
The Money Man View: next one to three sessions
Base case: the Korean rebound can continue, but volatility remains elevated. The KOSPI's recovery from a 4.1% loss and SK hynix's move into positive territory are constructive. The Nikkei, SoftBank and gold still show that stress has not disappeared. Traders should treat this as a test of stabilisation rather than proof that the correction is over.
Bullish scenario: KOSPI holds above 5,465 and then reclaims 5,534, while SK hynix remains above ₩1,223,000 and breaks the sampled ₩1,237,000 high. A Nikkei recovery above 62,682 and Nasdaq-100 futures holding above 29,142 would strengthen the case that the opening liquidation has been absorbed.
Bearish scenario: KOSPI loses 5,400 and returns towards 5,306, while SK hynix falls back below its previous close. A Nikkei break below 61,463 or SoftBank below ¥3,962 would show that Japanese technology pressure is intensifying. Gold below $4,018 and WTI failing back under $99.47 would add cross-asset instability.
What invalidates the stabilisation view: a fresh KOSPI session low below 5,306, accompanied by renewed losses in both Samsung and SK hynix, would invalidate the idea that the early forced selling has been absorbed.
What to monitor next
- Whether the KOSPI can close above the 5,465 rebound level or only tests it intraday.
- Whether SK hynix holds positive while Samsung narrows its loss.
- The Nikkei's 61,463 low and 62,682 recovery level.
- WTI acceptance above $100.24 versus a return below $99.47.
- Gold's response at $4,018 and the psychological $4,000 area.
- Any official policy guidance before the Bank of Japan meeting.
Sources and methodology
Japan's inflation figures come from the Statistics Bureau of Japan's official September CPI release. Thursday's global technology sell-off was corroborated with the updated Associated Press market report, while the preceding Korean close was checked against Yonhap News Agency.
Market levels and intraday ranges were sampled from Yahoo Finance one-minute chart data for the KOSPI, Nikkei 225, Samsung Electronics, SK hynix, SoftBank, US equity futures, gold, Brent, WTI, Bitcoin and USD/JPY. Cash-market quotes are delayed and remain provisional until the official close.
This analysis was prepared with AI-assisted research and writing under The Money Man editorial workflow. It is educational information, not personalised investment advice. Market prices can reverse quickly, delayed quotes may differ from executable prices and no scenario guarantees a return.