PRODIGY · MARKET MINUTE
KOSPI falls 2.6% as tech earnings split markets after the Fed decision
KOSPI was down 2.6% in an intraday Reuters snapshot published at 03:28 CET on 29 October, despite Samsung's record operating profit. The Fed had held the federal funds target at 3.75–4.00%, while markets now await the ECB decision and the continuation of the Bank of Japan meeting.
The most important confirmed development this morning was the reversal of earlier gains in Asia. In a Reuters snapshot published at 03:28 CET on 29 October, South Korea's KOSPI was down 2.6% and Samsung shares fell more than 4%. These were intraday readings, not closing levels, so they may change before trading ends.
The reaction came despite very strong Samsung figures. The company reported KRW 195.3 trillion of third-quarter revenue and a record KRW 107.4 trillion of operating profit. Operating profit was almost nine times the year-earlier level, yet a strong report does not guarantee a higher share price: valuation also depends on prior expectations, the mix of results and the outlook for spending.
Other indexes showed a mixed regional picture. MSCI's Asia-Pacific index excluding Japan fell 0.7%, Japan's Nikkei gained 0.3%, the CSI 300 declined 0.9% and the Hang Seng rose 0.2%. One KOSPI reading therefore does not describe the whole region, but it highlights pressure concentrated in Korean technology shares.
After Wall Street closed, large technology companies produced sharply different market reactions. Alphabet reported $127.6 billion of revenue, up 25% year on year, and 103% growth in Google Cloud revenue to $30.7 billion. Reuters nevertheless recorded an after-hours fall of about 10% in Alphabet shares. Microsoft reported $92.3 billion of revenue and 48% Azure growth, while its shares gained about 3% after hours. These moves describe the market response at a particular time, not a long-term valuation judgement.
The Federal Reserve kept the federal funds target range at 3.75–4.00% by a 10–2 vote. Two members preferred a 25-basis-point increase. The unchanged range and the vote split can affect bond and dollar pricing, but they do not determine the central bank's next decision.
In currencies, the dollar was steady after an overnight decline of about 0.2%, while the New Zealand dollar traded near $0.5626 after an earlier 1% fall. Brent was down 0.4% at $114.91 a barrel in the same Reuters snapshot. Currency and oil prices are time-specific observations, not forecasts for the rest of the day.
Crypto continued trading around the clock. In a snapshot read at 05:20 CET, bitcoin was near $79,791 and ether near $2,308.49. The ECB decision is due at 14:15 CET today, with its press conference at 14:45 CET, and the Bank of Japan meeting continues through 30 October. The scheduled times are calendar facts; the decisions and market reactions remain scenarios. This material is educational, and Prodigy uses virtual money and simulated trades.
Why can a strong result fail to lift a share price?
A price responds not only to whether a result is high, but also to the gap versus prior expectations. If investors had already assumed a very strong report, even record figures may be judged insufficient or be overshadowed by costs, cash flow or management guidance.
Samsung and Alphabet illustrate this mechanism in different reports. Operating figures were strong, but the share-price reactions were negative. This does not automatically establish a lasting trend; it only describes repricing in morning and after-hours snapshots.
How does the Fed shape the morning market map?
The 3.75–4.00% range is a fact from the statement, while two votes for an increase show disagreement inside the committee. Investors may adjust expectations for future rates, affecting bond yields, the dollar and growth-share valuations.
There is no single mechanical direction for every asset. The response also depends on inflation, corporate results, geopolitics and liquidity. That is why we separate the decision from scenarios for the next move.
What should be watched today?
The ECB will publish its decision at 14:15 CET and begin the press conference at 14:45 CET. The Bank of Japan is only on the first day of a two-day meeting, so the absence of a new morning decision should not be interpreted as a policy hold or change.
Scenario, not forecast: a more restrictive message could support the relevant currency and lift yields, while a softer one could have the opposite effect. Corporate results and inflation data can weaken or reverse that response.
How should the morning numbers be read?
KOSPI and other Asian indexes were trading intraday, Alphabet and Microsoft moves came from after-hours Wall Street trading, and crypto operated continuously. These figures should not be treated as one shared closing snapshot.
Prodigy lets users practise making those distinctions with virtual money and simulated trades. This material is not a recommendation to buy or sell and does not promise a particular outcome.
Watch with Max
Video in English. Illustrations are not live market charts.
Sources
- Reuters — Asian markets, currencies and Brent snapshot, 29 Oct 2026, 03:28 CET
- Federal Reserve — FOMC statement, 28 Oct 2026
- Samsung Global Newsroom — Q3 2026 results, 29 Oct 2026
- Google — Alphabet Q3 2026 earnings remarks, 28 Oct 2026
- Microsoft Investor Relations — FY27 Q1 results, 28 Oct 2026
- European Central Bank — 29 Oct 2026 decision and press conference schedule
- Bank of Japan — Monetary Policy Meeting and release schedule
- Google Finance — BTC/USD and ETH/USD snapshots read 29 Oct 2026 at 05:20 CET
Educational content, not investment advice. Virtual money and simulated trades.