Institutional Asia Market Close: Resilient Indices Amid Foreign Outflows and Sector Rotation into Energy and Infrastructure

### 1. Macro Environment and Market Supply-Demand Dynamics: Asian regular markets closed on September 18, 2026. Despite continuous foreign net selling for seven consecutive sessions in the KOSPI market, the index successfully defended the 6,700 level, supported by rebounds in major semiconductor heavyweights. The USD/KRW exchange rate settled at 1,379.5, the U.S. 10-year Treasury yield stood at 4.94%, and WTI crude oil recorded $100.30 per barrel. While the KOSPI index showed resilience, the KOSDAQ market experienced a slight decline, highlighting a clear divergence between the two indices. Capital inflows were concentrated in energy, refining/gas, high-dividend value stocks, defense, and shipbuilding sectors, whereas outflows were observed in aviation, petrochemicals, and high-valuation growth sectors. ### 2. Technical Resistance Breakout Leaders: - **Lotte Energy Materials (020150.KS)**: Closed up +7.63% at 42,300 KRW. The stock has surged +30.8% over the past month from its lows, forming a strong upward trajectory toward the upper resistance level of 44,200 KRW. Trading volume surged to 1.4 times the 20-day average. The lower support line is set at 37,600 KRW, maintaining a trend-following strategy above this threshold. - **LS Marine Solution (060370.KQ)**: Closed up +6.42% at 34,000 KRW. Backed by additional share acquisitions by the parent group, trading volume exploded to 4.9 times the 20-day average. The upper resistance stands at 36,200 KRW, while the lower support line is established at 32,950 KRW as a risk management benchmark. - **Amsu Bank (8345.T)**: Closed up +2.55% at 2,778 JPY on the TSE. Up +21.1% over the past month, the stock is testing its upper resistance at 2,825 JPY with volume at 1.4 times the 20-day average and solid support at 2,666 JPY. ### 3. Support Breakdown and Risk Management Targets: - **Nuon (123840.KQ)**: Exhibited high volatility with a +16.37% price move, but faced regulatory and governance uncertainties following significant equity stake reductions by key executives. Strict monitoring of the lower support line at 1,355 KRW is required. - **Parataxis Korea (288330.KQ)**: Scheduled for delisting procedures following accumulated losses and audit issues. Immediate portfolio exclusion is implemented to prevent capital loss. ### 4. Next Session Outlook and Asset Allocation Strategy: Amid persistent foreign selling pressure, investors should focus on a concentrated portfolio strategy emphasizing sectors with high earnings visibility and positive policy momentum rather than directional index bets. Shipbuilding, energy infrastructure, and value stocks are expected to maintain steady supply continuity. Conversely, strict adherence to risk management thresholds is advised for growth and domestic-oriented sectors experiencing capital outflows.