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The Trading Day · Friday, October 16, 2026

AI Trade — Asia bounces, Kospi +3.3%; Nasdaq-100 holds its support line, Jakarta −10.8% on MSCI

Asia bought back part of the chip sell-off this morning. The Kospi rose 3.3% to about 5,740, with Samsung Electronics up 4.0% and SK Hynix up 2.4%; the Nikkei gained 1.8%. One market went the other way: Jakarta fell 10.8%, its worst day since 1998 as reported, after MSCI said it may move Indonesia out of its emerging-market indexes.

The Morning 10

AI Trade — Asia bounces, Kospi +3.3%; Nasdaq-100 holds its support line, Jakarta −10.8% on MSCI

  1. 1 Nasdaq-100 — QQQ holds its support line at 728.41 after a midday test lower
  2. 2 Korea — Kospi rebounds 3.3% to about 5,740; Samsung +4.0%, SK Hynix +2.4%
  3. 3 Indonesia — Jakarta −10.8%, worst day since 1998, after MSCI flags a downgrade
  4. 4 Tokyo and the region — Nikkei +1.8%, Tokyo Electron +2.4%; Taiwan +0.3%, TSMC −0.8%
  5. 5 Rotation — chip builders sold again, software bought: Lam −3.5%, Dell −5.7%; ServiceNow +6.2%
  6. 6 CoreWeave — bonds yield near 15%, stock bounces 3.2% after Huang says no backstop needed
  7. 7 Rates — 10-year eases to 5.09%, homebuilders +4.3%; a hike this month still at 34%
  8. 8 Banks — Print Record windows close tonight: UnitedHealth +7.7% and Wells Fargo +2.6% from entry
  9. 9 AI board — on the week, AI winners +3.0%, AI builders (Rubin) −11.4%
  10. 10 Friday — options expiry, industrial production, regional banks; ASML and TSMC scored next week

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