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South Korea’s four central authorities today stepped in to stabilize the market and turn the tide for the country’s fortunes
1. Curb high leverage for ETFs
2. Tighten liquidation and forced-sale rules to prevent a concentrated sell-off
3. State-backed teams move in to provide support
But it also amounts to self-mutilation; after this, extreme downside for Korean stocks will be harder, but extreme upside will also be harder