—
C+
C+ The full Closelooknet — membership. Open the C+ overview

Kospi Gives Up a 3% Gain; Bitcoin Falls Below $70,000

AI Trade — Korea Turns a 3% Gain Into a 1% Loss; Bitcoin Falls Below $70,000, 10-Year Yield at 5.10%

Asia's chip markets opened higher after Nvidia closed well above its low and Cisco and Applied Materials beat their own forecasts, then gave gains back through the session. Taiwan kept 1.4% and Japan 0.5%; SK Hynix and SoftBank closed lower. Wall Street had slipped on Thursday as bond yields rose. US producer prices for October are due at 13:30 UTC.

In this edition

NVDA AMD AVGO CSCO AMAT NBIS ASML RSP

The Morning 10 Fri, Nov 13, 2026 ~90 seconds 08:00 CET

The ten points

Asia's chip markets started Friday with gains and gave most of them back. Korea's Kospi was up 3.0% at its high and closed down 1.0%. Taiwan's TAIEX was up 3.2% and closed 1.4% higher; Japan's Nikkei was up 1.8% and closed 0.5% higher. Nasdaq 100 futures turned from a gain of 0.8% to a loss of 0.4%.

The session had reasons to open higher. Nvidia closed Thursday down 4.3% at 166.19, after falling as much as 14% on the resignation of chief executive Jensen Huang; finance chief Colette Kress leads the company for now. AMD and Broadcom each gained more than 5%. After the close Cisco and Applied Materials both reported results above their own forecasts.

What weighed on prices came from outside the chip sector. The 10-year Treasury yield closed at 5.10%, its highest in three weeks, and the dollar is at a 52-week high. Gold closed at its lowest in 13 months. During the Asian session Bitcoin fell below $70,000 for the first time since August.

Wall Street slipped on Thursday. The S&P 500 lost 0.35% and held just above its level from before last week's sell-off, while the Russell 2000 index of smaller companies fell 1.7%. Today US producer prices for October are due at 13:30 UTC, the last inflation report of the week. Nvidia reports results on Tuesday.

  1. AI Trade in Asia — Kospi up 3.0%, then down 1.0% at the close; Taiwan keeps 1.4%, Nikkei 0.5%
  2. Asia's AI Bellwethers — SK Hynix from +5.0% to −3.0%, SoftBank −5.1%; Advantest and Tokyo Electron hold gains
  3. Europe — Stoxx 600 at a record close on Thursday; ASML −1.9%, chip and cable names slip
  4. Wall Street on Thursday — S&P 500 −0.35% and still above its pre-sell-off close; small companies −1.7%
  5. Nvidia — closes down 4.3% after a 14% fall; AMD and Broadcom gain more than 5%
  6. Earnings After the Close — Cisco raises its forecast for the year, Applied Materials posts a record quarter
  7. Rates — 10-year yield at 5.10%, its highest in three weeks; long bond fund TLT back under 80
  8. Dollar, Gold, Oil, Bitcoin — Bitcoin under $70,000 for the first time since August; gold at a 13-month low
  9. AI Indices — Rubin 100 −1.6% on Thursday and still 10.7% higher on the week; HALO and Agentic Winners give back the week
  10. Today and Next Week — producer prices at 13:30 UTC; Nvidia reports Tuesday, Anthropic's share sale is expected Wednesday

  1. AI Trade in Asia — Kospi up 3.0%, then down 1.0% at the close; Taiwan keeps 1.4%, Nikkei 0.5%

    Structure
    What
    Korea's Kospi opened 2.1% higher, rose as much as 3.0% to 5,504.44 and then fell through the session. It was down 1.6% at its low and closed at 5,290.53, down 0.98%. Taiwan's TAIEX was up 3.2% at its high and closed 1.35% higher at 43,675.12. Japan's Nikkei was up 1.8% and closed 0.53% higher at 61,142.35. Outside the chip markets, Hong Kong's Hang Seng is down 1.5%, Shanghai 0.7% and India's Nifty 0.8%.
    If
    US chip stocks open higher and hold their gains. Asia would then have sold a session that New York does not confirm.
    Why
    Asia trades the AI hardware names before New York opens. Thursday's US session gave it a better start than the day before: Nvidia had recovered most of its fall, and two large suppliers to data centers reported strong quarters after the close. The gains were sold anyway, most of all in Korea, where the memory-chip makers Samsung and SK Hynix are the two largest stocks in the index.
    Then
    For the week Taiwan gained 10.0%, Japan 6.5% and Korea 4.6%. Of the loss of the week to 6 November Taiwan has 72% back, Japan 63% and Korea 34%. Taiwan and Japan are each 3.4% under their close of 30 October, Korea 7.7%.

  2. Asia's AI Bellwethers — SK Hynix from +5.0% to −3.0%, SoftBank −5.1%; Advantest and Tokyo Electron hold gains

    Structure
    What
    SK Hynix opened 3.0% higher, was up 5.0% at its high of 1,317,000 won and closed down 3.03% at 1,216,000 won. Samsung Electronics was up 3.8% at its high and closed down 0.96% at 206,000 won. In Tokyo SoftBank fell 5.11% to ¥3,547, close to its low of the day. The makers of chip equipment kept part of their gains: Advantest was up 7.2% at its high and closed 2.08% higher at ¥30,610, and Tokyo Electron rose 1.69% to ¥9,461. TSMC gained 0.43% to NT$2,350 after touching NT$2,390, and Hon Hai 0.42%.
    If
    SK Hynix and Samsung recover Friday's losses on Monday. The selling would then look like traders cutting positions before the weekend, with no change of view on memory chips.
    Why
    The memory makers and SoftBank were sold; the companies that make the machines for producing and testing chips were kept. Applied Materials, a US maker of such machines, had reported a record quarter a few hours earlier. SoftBank reported a loss of about ¥1.1 trillion for the quarter to September on Tuesday and has fallen on four of the five days this week.
    Then
    SK Hynix is 14.2% under its close of 30 October, Samsung 8.4% and SoftBank 20.8%. Advantest is 12.2% under it. TSMC and Tokyo Electron are within 1% of it.
  3. Sector RS Monitor Relative strength across the sector board — which rotation is real, pattern-scored nightly. Open sector RS →

  4. Europe — Stoxx 600 at a record close on Thursday; ASML −1.9%, chip and cable names slip

    Structure
    What
    The Stoxx 600 rose 0.14% on Thursday to 664.01, a record close. The DAX gained 0.41% to 26,771.88 after rising as high as 27,001, and the Euro Stoxx 50 added 0.09%. The AI hardware names gave back part of Wednesday's jump: ASML lost 1.9% to €1,376.80, Nexans 1.7%, Prysmian 1.2%, BESI 1.1% and ASM International 0.5%. Infineon and Siemens Energy closed almost unchanged at €52.11 and €132.52. ABB lost 0.4% and Schneider Electric gained 0.9%. Nvidia's Frankfurt-listed shares fell 7.4% during the European session (Reuters).
    If
    European chip stocks open lower after Asia's reversal while the broad index holds its record. That has been the pattern of the week.
    Why
    Europe's broad market is carried by company results: earnings growth in the Stoxx 600 is running at 28%, the strongest in four years (Deutsche Bank, cited by Reuters). The AI hardware names are a small part of that index, and they trade with the chip sectors in New York and Asia.
    Then
    European cash markets open at 08:00 UTC. ASML is 2.5% under its close of 30 October; Infineon is 3.1% above it.

C — free account

The free C account unlocks points 4 through 10 — the full morning read.

One tap with Google or one email — no password, no card. You are signed in until you sign out, on this browser, from then on.

Join the Look — free

Already joined on this browser? The full edition shows automatically — if it doesn't, sign in again here. Looking for the archive, portfolios and realtime? That is C+.

C · point 11 · members

Today in line 11: why Asia sold a good start, what this week repaired and what it did not, the levels we watch into the producer-price report, and where Thomas's two chart readings stand after four days.

The privileged, actionable read — what we do, and at which level — is in point 11, for members only.

Join the Look — it’s free

Free members account · one click · the ten points stay free, always.

Mag Pulse The Magnificent complex against its own trendline — one board, refreshed nightly. Open Mag Pulse →

Further reading on Closelooknet

A daily overview, not advice — an investment diary. Published every trading morning at 08:00 CET. See the Daily Pulse and today’s check-in.