【Circuit breaker yesterday, higher open today—who’s panicking?】

This morning, stock markets in Japan and South Korea opened higher across the board: the Nikkei surged more than 1%, and Korean stocks also flipped from negative to positive. Most encouraging is the freshly released data—South Korea’s exports surged 52.3% year-on-year for the first 20 days in July; semiconductor exports jumped 180%; and exports to China were close to doubling. See? Stocks are crying, but business is booming. Of course, Citigroup has already warned that Korean stock volatility hasn’t finished yet—don’t get carried away after a rebound. When it comes to fundamentals versus sentiment, we’ll keep an eye on every round. #SKHYNIX $SKHYNIX ‌