KOSPI Close on August 18: Why 7,216 Turned Into a 6,869 Finish
The KOSPI traded as high as 7,216.62 but ended at 6,869.83. This analysis reviews fading foreign demand, weak market breadth, oil and U.S. yield pressure.
The KOSPI traded as high as 7,216.62 but ended at 6,869.83. This analysis reviews fading foreign demand, weak market breadth, oil and U.S. yield pressure.
The August 18 KOSPI session is about more than another 7,000 print. Foreign buying, market breadth and a closing hold will determine the quality of the breakout.
The KOSPI surged above 7,000 and reached 7,166, but closed at 6,797.70. Three forces explain why heavy foreign buying failed to sustain the rally.