South Korea's KOSPI plunges nearly 10% after regulator cautions on leveraged ETFs
- South Korea's KOSPI index plunged nearly 10% on June 23, triggering a 20-minute trading halt due to a market-wide circuit breaker after heavy selling pressure.
- Samsung Electronics dropped over 7.5% to more than 10%, and SK Hynix fell over 10% to more than 12%, with leveraged ETFs tied to these chipmakers intensifying price swings.
- Foreign investors sold more than $2.6 billion in KOSPI shares while retail investors increased positions, adding risk through excessive borrowing; regulators expressed regret for approving leveraged ETFs tied to major chip stocks.
13 Articles
13 Articles
Times of India
The Economic TimesAI crash coming closer? South Korea’s Kospi plunges 10%, triggers trading halt
South Korean stocks experienced a sharp decline, with the Kospi index plummeting nearly 10% from its record high. Chip giants SK Hynix and Samsung Electronics led the sell-off as investors grew concerned about an overstretched rally. This downturn follows a period of strong gains, with market watchers now closely awaiting Micron Technology's earnings for insights into the semiconductor sector's health. Foreign investors offloaded significant holdings amid rising market volatility.
(Seoul = Yonhap News) Reporter Hwang Cheol-hwan = As the domestic stock market faces a sharp correction, the KOSPI plunged more than 8% during trading on the 23rd, leading to a temporary suspension of trading...
KOSPI Plunges Over 8%... Circuit Breaker Triggered. The KOSPI, which had been soaring past the 9,000 mark, is plummeting. According to the Korea Exchange on the 23rd, the KOSPI opened at 9,083.54, down 0.34% from the previous trading day. Subsequently, it widened its losses, reaching 8.11% as of 2:40 PM...
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