On July 13, according to data from the Korea Financial Investment Association, a sharp recent drop in the Korean stock market has triggered accelerated deleveraging in credit positions. The scale of forced liquidations in July has already reached 344.2 billion Korean won, including 142.2 billion Korean won in forced liquidations on July 9 alone. Because forced liquidation data has a two-trading-day lag, the settlement pressure caused by the nearly 9% plunge in KOSPI on July 13 has not yet been fully reflected, and the market expects the forced liquidation scale to rise further.

On July 13, the Korean KOSPI index closed down 8.95%. During the session, the sell-side order suspension mechanism (Sidecar) and the primary circuit breaker mechanism (Circuit Breaker) were triggered. The semiconductor sector suffered a major selloff, with SK Hynix falling 15.37%—the largest single-day decline in history—and Samsung Electronics down 10.7%.

Meanwhile, the margin balance of Korean individual investors, credit financing balances, and investors’ deposits have all continued to decline. The market is getting trapped in a deleveraging cycle of “falling stock prices—forced liquidations—further declines.” #PreIPOs第二期OpenAI认购