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Daily check-in · 2026-10-13

Today on Closelooknet

Tuesday, October 13, 2026. Everything fresh from the ecosystem on one page.

The Morning 10 Tue, Oct 13, 2026 ~90 seconds 08:00 CET

Kospi −5.5% Breaks Its 18-Month Uptrend: Morning 10

Korea — Kospi −5.5% breaks its 18-month uptrend; SK Hynix and Samsung about −8% on a China memory scare

Korea is the story this morning. The Kospi closed down 5.5% at 6,035, after falling as far as about 5,914 and briefly below 6,000 — enough to trigger the exchange's sell-side curb on computer-driven trading for the first time in about two months. The two memory makers carry it: SK Hynix and Samsung Electronics traded down around 8%, as reported, after China's CXMT flagged progress on a new memory chip.

On the chart it is more than a bad day. Three times since August the index pushed toward 7,200 and turned back, each time from a lower high: 7,217 on 18 August, 7,172 on 8 September, 7,045 on 6 October. Monday's close of 6,384 was the first below the line under every closing low since April 2025, and today's drop confirms the break — the next marks below are the summer lows of 5,594 (closing low, 30 July) and 5,263 (intraday low, 29 July).

Tokyo, back from Monday's holiday, is down 1.8% and Taiwan 1.9%, while Hong Kong is flat and Shanghai +0.1% — a chip sell-off, not an Asia sell-off. In New York on Monday the S&P 500 ended flat at 7,807.24 while the chip fund SOXX fell 2.6% and Micron closed below $1,000. JPMorgan, Goldman Sachs and UnitedHealth report before today's US open; S&P 500 futures −0.1%.

  1. Korea — Kospi −5.5%, under 6,000 at the low; a sell-side curb for the first time in two months
  2. Kospi chart — three failed tries at 7,200, then the break of the line from April 2025
  3. Memory makers — SK Hynix and Samsung about −8% as China's CXMT flags a new memory chip
  4. US memory and optics — Micron −3.9% to below $1,000, SanDisk −6.0%, Lumentum −9.8%
  5. AI indices — Rubin −6.9% on the week, Agentic Winners +2.1%: the money moves from chips to software
  6. Tokyo and Taiwan — Nikkei −1.8% back from its holiday, Taiex −1.9%; Hong Kong flat, Shanghai +0.1%
  7. Wall Street — S&P 500 flat at 7,807, Nasdaq −0.4%; Meta +3.4%, energy fund +1.4%
  8. Oil and rates — Brent −1.3% overnight after Monday's high close; the US bond market reopens after Columbus Day
  9. Print Record — JPMorgan, Goldman Sachs and UnitedHealth report today; PepsiCo is scored at tonight's close
  10. Europe and futures — DAX +0.8% on Monday; S&P 500 futures −0.1%, bitcoin +2.3%

  1. Korea — Kospi −5.5%, under 6,000 at the low; a sell-side curb for the first time in two months

    Structure

    KS11.INDXEWY000660.KS005930.KS

    What
    The Kospi closed down 5.5% at 6,035, its fifth loss in a row, after dropping as far as about 5,914 (−7.4%) in the morning, as reported. When it fell below 6,000 the exchange triggered its sell-side 'sidecar' — a five-minute pause in computer-driven program selling — for the first time in about two months. The index is now 13.8% below its 2 October close of 7,003.74 and 33.8% below its record close of 9,114.55 on 22 June. In New York on Monday the Korea fund EWY lost 4.0% to 170.11.
    If
    the Kospi closes the week below 6,080, its 4 August low
    Why
    that would leave the July lows as the next support — the summer sell-off would be back on the table
    Then
    the Kospi page follows the index and its two big chip makers

    Open the detail →

  2. Kospi chart — three failed tries at 7,200, then the break of the line from April 2025

    Structure

    KS11.INDXEWY

    What
    Three times since August the Kospi climbed toward 7,200 and turned back, each time from a lower high: 7,217 on 18 August, 7,172 on 8 September, 7,045 on 6 October. Lower highs after a big fall say that sellers use every rally. Then the floor went. A line drawn under the closing lows since April 2025 — 2,294 on 9 April 2025, 5,594 on 30 July 2026 — stood near 6,420 on Monday. The Kospi closed at 6,384, the first close below it, and today it closed about 6% under it: in the editor's chart the uptrend of the last 18 months is broken.
    If
    the Kospi stays below the old line, about 6,435 today, for the rest of the week
    Why
    a broken trend of this length often leads to a test of the last major low — here the summer: 5,594 at the close on 30 July and 5,263 at the intraday low a day earlier, 7% and 13% below the close. A visit is possible, not certain
    Then
    a quick close back above the line would turn this into a false break — the chart below shows the editor's lines

    Open the detail →

  3. Market X-Ray The market-structure toolbox — regime, dispersion and stress on one surface. Open the X-Ray →

  4. Memory makers — SK Hynix and Samsung about −8% as China's CXMT flags a new memory chip

    Structure

    000660.KS005930.KSMU

    What
    The two memory makers carry the index down. By mid-morning SK Hynix traded about 8.5% lower near ₩1.47 million and Samsung Electronics about 6.8% lower near ₩233,500, as reported by KED Global; later reports put both around −8%. On Monday they had already closed −4.5% at ₩1,605,000 and −4.4% at ₩250,500. As on Monday, the reason given is China: the Chinese memory maker CXMT reported progress on a next-generation memory chip that could add supply. Foreign investors sold; Hana Securities also pointed to chip-fund rebalancing and to the end of both companies' share buybacks — SK Hynix's programme is expected to finish around the 20th.
    If
    SK Hynix and Samsung close the day down 8% or more
    Why
    Korea is the cleanest read on the memory trade — a second day of heavy selling on a Chinese rival says investors now price more supply, not just one weak week for US chips
    Then
    the memory and HBM page follows the memory makers and their prices

    Open the detail →

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The Midday 10 Mon, Oct 12, 2026 ~60 seconds 11:05 ET

More of the same from last week. US stocks opened higher and turned lower within the first hour; at about 11:00 ET the S&P 500 is flat, the Nasdaq-100 down 0.6% and the Dow up 0.4%. The selling sits in the same place as on Thursday and Friday: the chip makers, and above all the memory and fibre-optic suppliers of the AI build-out. The chip fund SOXX is down 2.6%; Lumentum −7.7%, Ciena −7.8%, SanDisk −6.5%, Micron −4.0%. Korea had already closed 3.7% lower overnight.

Software holds up better, but it is not rising as a group: Salesforce +2.5%, Workday +2.8% and Microsoft +1.1% are up, while the software fund IGV and the cloud fund CLOU are both down 0.7%. Meta leads the megacaps with +3.8%. Oil reverses its morning dip and jumps 2.2% to $107; bitcoin falls 1.4% to about $82,500. The big banks report tomorrow before the open.

US intraday quotes at about 11:00–11:05 ET (15:00–15:05 UTC); moves are measured against Friday's closes. Intraday prints are not closes. Index-fund and ETF quotes via Yahoo Finance and the site's live market strip; single-stock movers from the Nasdaq-100, S&P 500 and Dow movers boards. Reasons for the memory and optics moves as reported by Investing.com and TheStreet. The US bond market is closed for Columbus Day.

  1. Memory and optics sold: Ciena −7.8%, Lumentum −7.7% to $1,018, SanDisk −6.5% to $1,479, Coherent −5.6%, Corning −5.0%, Micron −4.0% to $988
  2. Chip makers down again: SOXX −2.6% to $544.90, SMH −2.1%; Marvell −4.1%, Arm −4.0%, Intel −3.6%, AMD −3.4%, Nvidia −1.5%
  3. Green open, red by 11:00: S&P 500 flat, Nasdaq-100 −0.6%, Dow +0.4%, Russell 2000 −0.2%
  4. Software apps rise, software funds don't: Shopify +3.6%, Workday +2.8%, Salesforce +2.5%, Microsoft +1.1% — IGV −0.7%
  5. Meta +3.8% to $746 leads the megacaps; eBay +5.3%, Apple +1.3%, Alphabet +1.0%
  6. AI builders and hardware: Bloom Energy −7.0%, Super Micro −5.3%, Nebius −5.0% to $210, HPE −4.1%, Cisco −3.0%
  7. Phone carriers bounce: T-Mobile +2.3% to $152.04, Verizon +1.2%, AT&T +0.5%
  8. Sectors: energy +1.0%, communication services +1.0%, financials +0.6%, health care +0.3% — tech −1.2%
  9. Oil reverses up: Brent +2.2% to $107.05, US crude $93.94; gold −0.7% to $4,186, bitcoin −1.4% to $82,545
  10. Banks into tomorrow's results: financials fund +0.6%, Goldman Sachs −0.3% to $892.70

The ten lines

  1. 1

    DOWN Memory and optics sold: Ciena −7.8%, Lumentum −7.7% to $1,018, SanDisk −6.5% to $1,479, Coherent −5.6%, Corning −5.0%, Micron −4.0% to $988

    LITECIENSNDKCOHRMUGLW

    The suppliers of memory and fibre-optic parts for AI data centres fall hardest — the same group that led the build-out this year. Reports cite a sector-wide memory sell-off after the weakness in Asia, where Korea's Kospi closed 3.7% lower, and profit-taking in Lumentum after a 52-week high.

  2. 2

    DOWN Chip makers down again: SOXX −2.6% to $544.90, SMH −2.1%; Marvell −4.1%, Arm −4.0%, Intel −3.6%, AMD −3.4%, Nvidia −1.5%

    SOXXSMHAMDMRVLARMNVDA

    Broadcom −1.4% and TSMC's US shares −1.3% fall less. The semiconductor fund SOXX is now 16.8% below its June high and on course for its fifth loss in a row.

  3. The Print Record Beat histories against how the stock actually traded — one earnings name per day, all season. Open the Print Record →
  4. 3

    LEVEL Green open, red by 11:00: S&P 500 flat, Nasdaq-100 −0.6%, Dow +0.4%, Russell 2000 −0.2%

    SPYQQQDIAIWMRSP

    The equal-weight S&P 500 fund RSP is flat (+0.05%), so the average stock is holding while the tech-heavy Nasdaq-100 carries the loss. The S&P 500 started the day 0.1% below its record.

Full Midday 10 →

Market state

Market Temperature

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