The Table Grows, The Pot Stays Small

DAILY MARKET NOTE / 03 NOV 2026

AI Funding Fears
Erase the Rebound—and More

KOSPI5,648.79 -3.59%KOSDAQ704.39 -4.08%

WHY

A wave of Big Tech financing deals and Anthropic's spending commitments revive doubts about how the AI buildout will be fundedOracle raises $20bn through equity and bonds; the PHLX Semiconductor Index -3.37% · WHY 02

HOW

-2.46% at the open; the morning rebound stalled near the Oct. 30 close

Close -3.59%Previous close

1:49 p.m. low -4.15% ; held above the Oct. 30 low; PATH 01

Breadth

Only 24.6% of stocks advanced; every constituent of the AI chip, battery and AI power themes declinedFour semiconductor-linked heavyweights accounted for about 70% of the index decline, based on an estimated market-cap contribution; SECTOR 04

Flows

Foreigners sold a net ₩1.515tn; institutions also flipped to net sellingForeign net selling in SK hynix: -₩637.6bn ; retail net buying: +₩1.664tn · MONEY 03

NEXT

The Oct. 30 low of 5,599.42 and the scale of foreign sellingU.S. midterm vote counts begin during Korea's Nov. 4 session; AMD reports tonight (U.S. time); NEXT 06

The KOSPI surrendered all of Nov. 2's rebound in one session and slipped below its Oct. 30 close. It held above the Oct. 30 low, but losses spread to 658 KOSPI names and 1,350 KOSDAQ names.

MARKET PATH / 01

-2.46% at the open; a rebound high at 10:19 a.m., then down to -4.15%by 1:49 p.m.

Where the rebound failed—and where buyers held the line

IN PLAIN TERMSThe opening gap priced in the U.S. chip selloff: -2.46% at the open. The index slipped to 5,638.06 at 9:54 a.m., then recovered to 5,735.92 at 10:19 a.m.The rebound stopped near the Oct. 30 close of 5,730.74. After 11:40 a.m., even the one-minute closing prints failed to regain 5,700.The session low was 5,615.80 at 1:49 p.m., 16 points above the Oct. 30 low of 5,599.42. The KOSPI closed at 5,648.79.

KOSPI · 09:00~15:30-2.46% at the open → 9:54 a.m. morning low → 10:19 a.m. high → below 5,700 at 11:40 a.m. → 1:49 p.m. session low → closing-auction bounce

Chart zooms in on today's range; prices stayed below the previous session's close (5,859.08) throughout

OPEN5,715.19-2.46%

HIGH5,735.92-2.10%

LOW5,615.80-4.15%

CLOSE5,648.79-3.59%

THE READ

Opening gapThe 143.89-point opening gap accounted for roughly 68% of the full-day loss. Much of the U.S. chip shock was reflected at the open; a further 66.40 points were lost intraday.

ResistanceThe morning bounce overshot the Oct. 30 close by only five points. Selling resumed as the index returned to levels seen before the Nov. 2 rebound.

SupportThe afternoon low held 16 points above Oct. 30's trough. A roughly 23-point bounce in the closing auction kept the index from finishing at its low.

Breadth and FXFour semiconductor-linked heavyweights explained about 70% of the index decline, yet 658 KOSPI and 1,350 KOSDAQ stocks fell. USD/KRW was 1,341.0 (-₩2.8), so the equity selloff did not spill into won weakness. Turnover was 0.75× its five-session average.

OPEN · MORNING

-2.46% A sharp open and a rebound high at 10:19 a.m.

After an early low of 5,638.06 at 9:54 a.m., the index retook 5,700 at 10:05 a.m.The day's high, 5,735.92 at 10:19 a.m., sat near the Oct. 30 close of 5,730.74.

MIDDAY

Below 5,700 by 11:40 a.m.; a midday fight around 5,650

Selling resumed at 11:27 a.m. and took the index below 5,700 late in the 11 o'clock hour; it stood at 5,654.32 by 11:59 a.m.After 5,649.53 at 12:37 p.m., the index rallied to 5,678.73 at 12:48 p.m. before losing ground again.

AFTERNOON

Session low at 1:49 p.m.; a recovery in the closing auction

The KOSPI hit 5,615.80 at 1:49 p.m., recovered to 5,656.28 at 2:43 p.m., then eased to 5,625.94 by 3:19 p.m.It closed at 5,648.79. On the KOSDAQ, the opening 723.92 was the day's high; the index fell to 702.34 before closing at 704.39.

WHY / 02

Successive Big Tech financing deals and Anthropic's spending commitments rekindled AI funding concerns, leading a semiconductor-driven selloff

The principal drivers

IN PLAIN TERMSThe key signal: AI investment is increasingly being financed through debt and new equity. Oracle moved from its Oct. 28 announcement of a $20bn raise to actual issuance on Nov. 2 (U.S. time); Alphabet started a euro bond sale, while Meta explored a new debt offering.Anthropic's $895.4bn of spending commitments are not all immediately payable: approximately $69.8bn falls due within 12 months, against $146.6bn in liquidity. But costs for largely short-term contracted compute capacity pushed its third-quarter GAAP operating result into a loss.The market was questioning not whether AI demand had disappeared, but how quickly—and at what cost—companies could finance the infrastructure needed to serve it. A 7%-plus drop in oil and a better-than-expected U.S. manufacturing reading offered little offset; pre-election caution added to the pressure.

The main catalyst: debt and equity funding for AI revive doubts about financing capacity and returns

OracleOn Oct. 28, Oracle outlined a further $20bn capital raise through fiscal 2030, split evenly between debt and common shares. Issuance began on Nov. 2 (U.S. time); share-price change: -8.76%

Offering termsCommon shares at $116 each, raising about $10bn; $10bn of notes paying 7.000–8.650% annually and maturing from 2029 to 2046. Pricing was announced at 12:09 p.m. KST on Nov. 3.

Big Tech debtAlphabet launched a €6bn bond offering; Meta was still considering a bond sale of at least $20bn, according to Bloomberg.

AnthropicNov. 2 (U.S. time) ; Q3 revenue of $16.956bn ( +46.7% QoQ); mostly short-term contracted costing about $5bn contributed to a $567mn GAAP operating loss, reversing the prior quarter's profit; remained positive at $2.463bn.

Commitment scheduleOf $895.4bn in committed spending, roughly $447.5bn is expected by end-2030, with most of the balance due from 2031 to 2045. About $69.8bn comes due within 12 months; liquidity at end-September was $146.6bn.

U.S. chip stocks -3.37% · AMD -7.52% ; Micron -5.78% ; Marvell -12.72%(announced Lumentum acquisition)

8.65% annual couponCoupon on Oracle's longest-dated notes, maturing in 2046

SHOW SOURCE DETAILS

Korean stocks: Samsung Electronics -4.15% ; SK hynix -5.03% ; all 20 constituents of the AI semiconductor theme declined

U.S. session (Nov. 2): Dow +0.41% · S&P 500 -0.51% ; Nasdaq -1.07% ; Intel -8.80% ; CoreWeave -8.60%

Oracle: 86,206,897 common shares and five note tranches—7.000% due 2029, 7.450% due 2031, 7.850% due 2033, 8.000% due 2037 and 8.650% due 2046. Net proceeds of roughly $19.9bn; settlement expected Nov. 4. Proceeds are earmarked for general corporate purposes, including capex and debt repayment. Terms were announced during Korean market hours, but there is no evidence that the announcement itself caused the afternoon selloff.

Meta and Alphabet: Meta was considering both dollar- and euro-denominated bonds, six months after a $25bn offering in April. Orders for Alphabet's euro bonds exceeded €17bn. Alphabet shares fell roughly 19% in October.

Anthropic: Q2 revenue of $11.555bn and operating income of $974mn. Quarterly revenue growth slowed from roughly 144% in Q2 to roughly 47% in Q3. The operating loss also included $2bn in noncash costs for employee donation matching. Reported liquidity included $14.8bn of undrawn credit facilities. Most commitments cover compute capacity and infrastructure such as data-center leases and cloud services; counterparties include Google, Amazon, Microsoft and Broadcom.

U.S. earnings: Apple's fiscal Q4 revenue was $114.48bn, with EPS of $2.10; Palantir reported Q3 revenue of $2.313bn (up+96%). Both beat expectations but traded about 3% lower late in after-hours trading. For Apple, investors cited gross-margin guidance amid higher memory costs; for Palantir, valuation concerns were in focus.

Broker view: Lee Kyoung-min of Daishin Securities said repeated Big Tech bond deals revived AI funding concerns and weakened sentiment across the AI value chain. Caution ahead of the U.S. midterms also constrained risk appetite.

Oil and macro: Hopes for U.S.–Iran talks sent WTI -7.36% ($96.46/bbl) and Brent -7.63% ($104.77/bbl) lower. October ISM manufacturing beat forecasts at 55.5, with the prices index at 75.2. The U.S. 10-year Treasury yield fell 3.4bp to 4.895%.

Funding worries hit chip stocks and spread to other AI-linked large caps, including batteries and electrical equipment. Samsung Electronics common shares and SK hynix are estimated to account for around half of KOSPI market capitalization, amplifying the decline relative to the Nasdaq. Foreigners led the selling; MONEY 03 · SECTOR 04

MONEY / 03

Foreign investors net sold ₩1.515tn;
institutions another ₩515bn

Who was selling into the decline

IN PLAIN TERMSForeign investors led the selloff. Their three largest net sales were SK hynix, Samsung Electronics and Samsung Electro-Mechanics.Institutions, which had driven the Nov. 2 rebound, also reversed to net selling. SK hynix was their largest net sale as well.Retail investors bought a net ₩1.664tn. Their four largest net buys matched foreign investors' four largest net sales, stock for stock.

FOREIGN INVESTORS · KOSPI CASH

-₩1.515tn

ConcentrationThe five largest foreign net sales spanned major chip, electronics-component and battery stocks, plus semiconductor investment holding company SK Square. SK hynix ranked first at -₩637.6bn

FuturesForeign investors Futures -₩351bn ; Nov. 2: +₩341bn; flipped to net selling

Program trading +₩76bn · -₩998.4bn ; combined: -₩922.4bn

Trading value₩14.0894tn, or 0.75× the five-day average; about 5% below Nov. 2

NET KOSPI BUYERSRetail investors and other corporations

Net KOSPI sellersForeign and institutional investors

Net buying by stock and investor type · KOSPI · KRW 100mn
Stock	Foreign investors	Institutional	Retail investors
SK hynix	-6,376	-2,724	+5,444
Samsung Electronics	-2,064	-371	+2,795
Samsung Electro-Mechanics	-1,914	-620	+2,506
Samsung SDI	-804	-858	+1,610
Daeduck Electronics	+375	-861	+486

Foreign investors' two largest net buys were Daeduck Electronics ( +₩37.5bn) and SK Innovation ( +₩15.1bn). Daeduck was institutions' second-largest net sale.Institutions' two largest net buys were Korean Air ( +₩39.8bn) and Samsung Biologics ( +₩21.5bnIn SK hynix, the combined net flow of foreigners, institutions and retail investors was -₩365.6bn . Other investor categories, including corporations, therefore bought that amount net. This coincides with SK hynix's daily open-market buybacks of 250,000 shares, underway since Oct. 29, but cannot all be attributed to the repurchase program.

BREAKDOWN OF FLOWS

Net buying by investor group · KRW 100mn
Investor group	KOSPI	KOSDAQ	Both markets
Foreign investors	-15,150	-750	-15,900
Institutional	-5,150	-2,350	-7,500
Retail investors	+16,640	+3,200	+19,840
Other corporate investors	+3,660

On the KOSDAQ, foreigners -₩75bn; institutions -₩235bn ; retail investors +₩320bn

Futures and program trading · Nov. 3 vs. Nov. 2 · KRW 100mn
Category	Nov. 3	Nov. 2
Foreign investorsKOSPI 200 futures	-3,510	+3,410
InstitutionalKOSPI 200 futures	+1,980	-1,900
Retail investorsKOSPI 200 futures	+1,480	-1,190
ArbitrageProgram trading	+760	-176
Non-arbitrage program tradesProgram trading	-9,984	+1,045
TotalProgram trading	-9,224	+869

Five sessionsFrom Oct. 28 through Nov. 3, KOSPI foreign investors -₩2.617tn ; institutions +₩1.977tn ; retail investors -₩831bn ; foreign KOSPI 200 futures +₩1.001tn

Short sellingKOSPI short-selling value: ₩1.3973tn (₩1.0496tn on Nov. 2), including ₩202.2bn in SK hynix, ₩112.0bn in Samsung Electronics and ₩92.7bn in Samsung SDI.

+₩366bn ; coincided with the fourth session of SK hynix's ₩20tn open-market buyback, but this figure is not the executed buyback amount.

Foreign sellingForeign net-selling ranks No. 4 and 5: Samsung SDI -₩80.4bn ; SK Square −₩39.6bn

SECTOR / 04

Where the strength was—and wasn't

The distribution of gains and losses matters more than a leaderboard

IN PLAIN TERMSAdvancers fell to 24.6% of listed stocks, from 71.7% on Nov. 2—roughly one in four names.Four semiconductor-linked heavyweights explained an estimated 70% of the index decline on a market-cap basis. Including Samsung Electro-Mechanics raises that share to about 73%.Every constituent of the AI semiconductor, battery Top 10 and AI power-infrastructure themes fell. Relative resilience was limited to Samsung Biologics and select pharmaceuticals and entertainment/culture names.

STRONG

Samsung BiologicsStock+2.11%

Entertainment & CultureKOSPI sector+0.62%

PharmaceuticalsKOSPI sector+0.58%

Paper & Wood ProductsKOSPI sector+0.55%

Real Estate, REITs & InfrastructureKRX thematic index+0.14%

WEAK

Samsung SDIStock-9.20%

Medical & Precision EquipmentKOSPI sector-7.60%

Samsung Electro-MechanicsStock-7.38%

AI SemiconductorsKRX thematic index-6.94%

Secondary Battery TOP10KRX thematic index-6.26%

KOSPIAdvancers: 71.7% → 24.6%; decliners: 658 stocks

KOSDAQAdvancers: 64.2% → 18.6%; KOSDAQ TOP 10 index -4.28%

More than erasedThe 128.34-point Nov. 2 gain was fully erased, with another 81.95 points lost. Relative to the Oct. 30 close: -1.43%

Decomposing the index decline: four semiconductor-linked heavyweights contributed an estimated 2.50 percentage points, based on changes in market capitalization.

SemiconductorsSemiconductor Top 15 -5.12% ; only one of the 15 constituents rose. All 20 AI semiconductor names fell.

Index impactFour-stock estimated contributions: Samsung Electronics approximately -1.15pp ; SK hynix approximately -1.12pp ; SK Square approximately -0.14pp ; Samsung Electronics preferred shares approximately -0.09pp ; plus Samsung Electro-Mechanics approximately -0.14pp

Batteries and powerThe Secondary Battery TOP 10 and K-AI secondary-battery and AI power-infrastructure themes had no advancers. LG Energy Solution: -5.06%

The holdoutsSamsung Biologics was the only gainer among the 10 largest KOSPI companies by market cap, buoyed by news of a contract manufacturing agreement worth more than ₩430bn with a global pharmaceutical company. But only 11 of 56 pharmaceutical stocks advanced, so the sector's resilience was not broad-based.

FinancialsNone of the 29 securities-brokerage stocks rose. Financials: -1.95% ; insurance -2.06%

SECTOR DETAIL

Estimated KOSPI contribution · market-cap basis
Stock	Change	Contribution
Samsung Electronics	-4.15%	-1.15pp
SK hynix	-5.03%	-1.12pp
SK Square	-5.37%	-0.14pp
Samsung Electro-Mechanics	-7.38%	-0.14pp
Samsung Electronics preferred	-3.05%	-0.09pp
LG Energy Solution	-5.06%	-0.09pp
Samsung Life Insurance	-3.86%	-0.04pp
Hyundai Motor	-3.31%	-0.04pp
KB Financial Group	-1.30%	-0.01pp
Samsung Biologics	+2.11%	+0.03pp
Top 10 total		-2.79pp
Outside the top 10		-0.80pp

Four semiconductor-linked heavyweights = SK hynix, Samsung Electronics common and preferred shares, and semiconductor investment holding company SK Square. Together they contributed -2.50pp, roughly 70% of the KOSPI decline.The same four-stock basket contributed +1.53pp, or about 68% of Nov. 2's gain. Including Samsung Electro-Mechanics -0.14ppbrings the five-stock share of today's decline to about 73%.

Advancers and decliners · includes limit-up/limit-down stocks
Market	Advancing	Declining	Unchanged	Advancing share
KOSPI	225	658	33	24.6%
KOSDAQ	325	1,350	68	18.6%

Nov. 2 and 3 closing-price changes; two-day return measured from the Oct. 30 close
Indices and stocks	Nov. 2	Nov. 3	Two days
KOSPIIndex	+2.24%	-3.59%	-1.43%
KOSDAQIndex	+1.38%	-4.08%	-2.76%
Semiconductor Top 15KRX thematic index	+2.74%	-5.12%	-2.52%
AI SemiconductorsKRX thematic index	+2.09%	-6.94%	-5.00%
SK hynixStock	+3.81%	-5.03%	-1.41%
Samsung ElectronicsStock	+1.78%	-4.15%	-2.44%

Large capsLG Energy Solution -5.06% ; Samsung Life Insurance -3.86% ; Hyundai Motor -3.31% ; KB Financial Group -1.30%

KOSDAQEO Technics -8.56% ; Jusung Engineering -7.68% ; Wonik IPS -7.14% ; EcoPro -4.88% ; Alteogen +0.23%

Sectors present on both exchanges (20) · sorted by KOSPI performance
Sector	KOSPI	KOSDAQ
Entertainment & Culture	+0.62%	-0.89%
Pharmaceuticals	+0.58%	-2.02%
Paper & Wood Products	+0.55%	+0.97%
Non-Metallic Minerals	+0.24%	-5.67%
Food, Beverages & Tobacco	+0.06%	-0.93%
General Services	-0.49%	-2.25%
Telecommunications	-0.49%	-0.01%
Transportation Equipment & Parts	-0.92%	-3.98%
Transportation & Warehousing	-1.06%	+0.84%
Textiles & Apparel	-1.20%	-1.54%
Distribution	-1.54%	-2.92%
Financials	-1.95%	-3.84%
IT Services	-2.88%	-1.89%
Metals	-2.94%	-4.88%
Construction	-3.14%	-2.18%
Chemicals	-3.93%	-2.64%
Manufacturing	-4.13%	-4.83%
Electrical & Electronics	-4.76%	-5.60%
Machinery & Equipment	-5.00%	-6.75%
Medical & Precision Equipment	-7.60%	-3.76%

Single-market sectorsKOSPI electricity & gas: -0.60% ; insurance -2.06% ; securities brokers -2.51%(no advancers among 29 stocks); real estate: -0.25% ; KOSDAQ other manufacturing: -2.67%

KRX thematic indices · sorted by Nov. 3 return
Theme	Nov. 2	Nov. 3
Real Estate, REITs & Infrastructure	-2.84%	+0.14%
Shipbuilding TOP10	+7.85%	+0.10%
Biotechnology TOP10	-0.57%	-0.11%
Prime Office REITs	-4.50%	-0.29%
High Dividend 20	-0.41%	-0.65%
Gaming TOP10	-1.11%	-0.74%
Biotech Licensing	+0.53%	-1.45%
K-AI KOSDAQ Biotechnology	+0.68%	-2.07%
K-AI Defense TOP5+	+4.07%	-2.58%
BBIG	-0.14%	-2.74%
KOSPI Preferred Shares	+1.13%	-2.88%
Blue Chip 25	+2.36%	-3.89%
Internet TOP10	+1.09%	-4.18%
EV Top 15	+1.07%	-4.65%
Semiconductor Top 15	+2.74%	-5.12%
K-AI Semiconductor TOP2+	+2.76%	-5.64%
AI Power Infrastructure	+4.32%	-6.08%
K-AI Secondary Batteries	+1.06%	-6.13%
Secondary Battery TOP10	+0.80%	-6.26%
AI Semiconductors	+2.09%	-6.94%

KOSPI top 10 by market cap · close in KRW
Stock	Close	Change
Samsung Electronics	219,500	-4.15%
SK hynix	1,398,000	-5.03%
Samsung Electronics preferred	171,600	-3.05%
SK Square	899,000	-5.37%
Samsung Electro-Mechanics	1,105,000	-7.38%
LG Energy Solution	338,000	-5.06%
Samsung Biologics	1,452,000	+2.11%
Hyundai Motor	277,500	-3.31%
KB Financial Group	151,400	-1.30%
Samsung Life Insurance	261,500	-3.86%

Limit-upKOSPI: 4; KOSDAQ: 3. No limit-down stocks on either market.

CHANGE / 05

Yesterday's questions. Today's answers.

Revisiting the checkpoints set after the previous session

YESTERDAY → TODAY

All three checks failed to clear even Stage 1. Every condition for confirming the Nov. 2 rebound was invalidated the next day.Foreign net selling grew to more than four times its Nov. 2 level. SK hynix remained foreigners' largest net sale, with the outflow increasing.SK hynix, the biggest contributor to Nov. 2's gain, became one of today's biggest drags alongside Samsung Electronics. Index contribution: +0.83pp → -1.12ppOn Nov. 2, investors looked past Intel's weakness to firm memory prices and AI demand. Today they focused on the speed and cost of financing that demand. The same AI investment cycle was priced from opposite sides on consecutive days.

SK hynix closing priceStage 1: close at or above ₩1,472,000; Stage 2: foreigners turn net buyers. Stage 1 missed.

1,472,000

→

1,398,000

Share of KOSPI stocks advancingStage 1: at least 50% of KOSPI stocks advance; Stage 2: KOSPI closes at or above 5,900. Stage 1 missed.

71.7%

→

24.6%

Foreign KOSPI cash flowsStage 1: net selling below ₩37.3bn; Stage 2: a shift to net buying. Stage 1 missed.

-3,730

→

-15,150

01 · Foreign selling of SK hynix: -₩637.6bn; institutional selling: -₩272.4bn · MONEY 0302 · The 5,648.79 close was 251.21 points below 5,900.03 · Amounts in KRW 100mnOctober CPI, flagged on Nov. 2: +2.8% YoY (September: +2.9%); core CPI: +2.8% . No evidence establishes a direct link to the index's direction.

NEXT / 06

What to watch in the next session

Three checks for tonight's U.S. session and Wednesday, Nov. 4: Stage 1 tests whether today's interpretation holds; Stage 2 would mark a further improvement.

Will semiconductor selling stop?

TodaySK hynix: ₩1,398,000 at the close; foreign net selling -₩637.6bn; institutional net selling -₩272.4bn

Stage 1SK hynix closes at or above ₩1,398,000 on Nov. 4.

Stage 2Stage 1 holds and foreigners turn net buyers of SK hynix.

Will the Oct. 30 low hold?

TodayKOSPI intraday low: 5,615.80; close: 5,648.79.

Stage 1Nov. 4 intraday low stays at or above 5,599.42.

Stage 2Stage 1 holds and the index closes at or above 5,730.74, the Oct. 30 close that capped this morning's rebound.

Will foreign cash-market selling ease?

TodayKOSPI cash equities -₩1.515tn ; futures also saw net selling.

Stage 1Foreign KOSPI cash net selling is less than ₩1tn on Nov. 4.

Stage 2Foreigners turn net buyers of KOSPI cash equities on Nov. 4.

UPCOMING DATES

Nov. 5 · September current account; planned cancellation of 23.69mn SK hynix treasury shares; final tender-offer results for Samsung BiologicsNov. 6 (U.S. time) · U.S. October employment report (10:30 p.m. KST)Nov. 16: scheduled final Q3 results filing by Samsung E&A.Nov. 20 · Hyundai Rotem share-repurchase program endsNov. 26: Bank of Korea Monetary Policy Board meeting.Nov. 27 · Samsung Electronics Q3 dividend paymentNov 30 · SK hynix Q3 dividend record date.Dec 8–9 (U.S. local) · Federal Reserve meeting.Late January 2027 · Samsung board to decide remaining shareholder returns.

It was not AI demand itself, but the speed and cost of raising money to serve it, that drove another semiconductor-led decline. All three tests for confirming Nov. 2's rebound failed within a day. The Oct. 30 low is the remaining near-term support. The next answers will come from U.S. midterm vote counts during Nov. 4 trading and the scale of foreign selling.

SOURCES & DATA NOTES

As of Nov. 3, 2026. Index, sector and stock closing prices are from the Korea Exchange regular session 09:00~15:30 ; Korean market analysis and overseas news use information publicly available before the 5:00 p.m. KST cutoff. Indices: KOSPI open 5,715.19, high 5,735.92, low 5,615.80; KOSDAQ open and high 723.92, low 702.34. Official regular-session closing figures (independently collected). USD/KRW is the 3:30 p.m. local FX-market close. Yonhap News (English) Intraday chart: KOSPI one-minute bars downloaded from Toss Securities and plotted at five-minute intervals. Key timestamps, including the morning low, session high and low, and break below 5,700, come directly from one-minute bars. All times KST. Investor flows: Korea Exchange regular-session data independently collected at 3:38 p.m. KST. Other corporate investors are derived as the balancing item needed for net investor flows to sum to zero. After-hours excluded. Investor totals are reported in ₩1bn increments. Media figures vary by data cutoff (foreigners: -₩1.5154tn Opinion News (Korean original)⁠·⁠-₩1.5299tn Aju Press (English)) Stock-level flows: own Korea Exchange collection at 3:51 p.m. KST for regular-session KOSPI stocks only. Stock rankings match Yonhap Infomax's 3:30 p.m. snapshot (Foreign investor flows (Korean) · Institutional flows (Korean)), though the final digits differ. Nov. 2 values are sourced in the Nov. 2 edition. Futures and program trading: KOSPI 200 futures by investor type at 3:49 p.m. KST; regular-session program totals at 3:36 p.m. Cash investor flows and program trading use different classifications and should not be added together. Turnover is the 3:38 p.m. Korea Exchange figure; five-session totals use finalized exchange data. Market breadth: finalized Korea Exchange advance/decline counts at 4:05 p.m. KST. Advancers include regular gainers and limit-up names (KOSPI 225/916; KOSDAQ 325/1,743). Short selling combines Korea Exchange regular-session and NEXTRADE main-market figures. Sectors and estimated index contributions: Korea Exchange industry and thematic indices, including constituent counts and breadth. Contributions are independently estimated as each stock's market-cap change divided by KOSPI market capitalization on Nov. 2 (approximately ₩4.836 quadrillion), so they may differ from official index-point contributions. Large-cap and KOSDAQ stock changes: Aju Press (English) ; Samsung Biologics contract-manufacturing agreement: Seoul Economic Daily (English) U.S. markets: indices, PHLX Semiconductor Index, Micron, AMD, Intel, oil, ISM and Treasury yields: The Herald (English) ; Marvell's share-price change: market coverage; Oracle's change and CoreWeave: Bloomberg News (English) ; Marvell and Lumentum: Marvell investor release (English) ; Meta and Alphabet bonds: Reuters (English) ; Apple and Palantir earnings: Yahoo Finance (English) Oracle: share offer price, note coupons, maturities and announcement time (10:09 p.m. U.S. Eastern on Nov. 2): Oracle release (PR Newswire) ; Oct. 28 funding cap and 50/50 equity/debt split: Reuters (via KFGO) Anthropic: revenue, operating results and spending commitments in its amended IPO filing submitted Nov. 2 (U.S. time): Anthropic SEC filing ; short-term compute costs, adjusted operating income, the commitment schedule and liquidity are taken from the filing: PPC Land ; slowdown in revenue growth: Fortune Broker commentary: Lee Kyoung-min, Daishin Securities (Aju Press (English)) Domestic indicators and buybacks: October CPI from the Ministry of Data and Statistics (Official English CPI release); SK hynix's open-market purchases of 250,000 shares daily: NewsPim (Korean buyback data) ; the sum of three investor groups' SK hynix flows is independently calculated from stock-level net buying data. Calendar: JOLTS: U.S. BLS schedule (English) ; U.S. corporate earnings calendar: Stock Titan ; U.S. midterms and employment report: U.S. BLS schedule (English) ; September current account: Bank of Korea calendar (English) ; the Samsung Biologics tender offer and SK hynix share-cancellation dates use sources cited in the Nov. 2 edition.