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WHY THE $KOSPI KEEPS CRASHING. ๐จ
Five things are driving the violence.
1. It runs on retail: quick flip mentality turns every dip into a crash and every bounce into a spike.
2. Samsung and SK Hynix alone are nearly half the entire index. Two stocks move the whole country.
3. Margin debt hit a record 38 trillion won. Leveraged ETFs on Samsung and SK Hynix double every move, forcing faster selling.
4. The won is a local currency, not a global reserve. Foreign selloffs hit harder with less support.
5. SK Hynix just passed Samsung as Korea's most valuable company.
Elevated volatility is here to stay for all markets.