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What a lifelong love for investing the Koreans 😓 😓
Korean stock market circuit breaker, retail investors borrowing money to buy the dip
On June 10th, today, the Korea KOSPI index, driven by a 6% plunge in Samsung and SK Hynix, 📉, hit the circuit breaker again, and the AI stock correction still seems to be ongoing
During this period, the overdraft account balances of major commercial banks increased by more than 600 billion won (about 2.67 billion RMB). Analysts believe this is because retail investors, expecting a market rebound after the sharp decline, have started using overdraft accounts for “loan investments.”