Movements around the KOSPI 5,000 line are expected to be determined by 3 factors: US inflation indicators, AI-related earnings and options expiration. Attention is focused on how next week's events will affect market sentiment and fund flows.
The KOSPI's direction will be tested as US inflation indicators, earnings from AI infrastructure companies and monthly futures options expiration coincide. Depending on whether inflation exceeds expectations, US long-term interest rates and the dollar could move, potentially affecting fund allocation in the Korean market and foreign investor supply and demand.
The third-quarter earnings report from AI cloud company CoreWeave on the same day will focus not only on revenue but also on cash flow, interest expense and future financing plans. Delays in power connections and lags in data-center completion could delay revenue recognition and are points to watch.
The expiration of KOSPI 200 monthly futures options on the 12th could also affect the index's closing price as positions in the cash and futures markets are unwound. On past expiration dates, options activity and position adjustments have affected the share prices of large-cap stocks. Developments related to Anthropic's IPO, as well as movements in crude oil and long-term interest rates, are also cited as market factors.
Ultimately, the KOSPI's direction next week is expected to be determined by 3 factors: the tightening path implied by US inflation indicators, the capacity for AI investment indicated by CoreWeave's earnings, and supply and demand on the expiration date. The exact closing level could depend on trading trends toward the end of the period.