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Good news instantly turns into bad! South Korea's stock market crashes again, triggering a circuit breaker.
The 4 trillion won storage investment that was hyped over the weekend became an excuse to dump right at the market open. South Korea's KOSPI index plunged over 3% at the open, directly triggering trading halts, with Samsung and SK Hynix both falling over 5%. Foreign investors have withdrawn $95 billion from Korean stocks this year, relying entirely on retail investors' leveraged buying to hold up, and a drop easily triggers a chain of forced liquidations. Fortunately, A-shares held up, with the STAR 50 index turning green against the trend. #SKHYNIX $SKHYNIX