#夏日创作营 Over the past two days, Korean stocks have stabilized and rebounded. We have observed signs that the deleveraging process in a series of Korean stocks is stabilizing at the margin.

1️⃣ Financing balance
After 8 consecutive days of decline since July 8, down 3.6 trillion won and shrinking by 10%, it has switched to an upswing.

2️⃣ Leverage ETF size
The leverage ETF scale has shrunk 55% from its peak, falling back to the level of this year’s May. In recent days, the rate of decline has been stabilizing at the margin. Also, retail investors have shifted from prior net subscriptions to net redemptions; the decline in scale is no longer contributed purely by price declines.

3️⃣ Foreign capital
Foreign capital has started to turn to buying. Since July 8, it has accumulated net purchases of 2.7 trillion won.

4️⃣ Liquidation amount
The liquidation amount has come down somewhat. From the July 9 peak of 142.2 billion won, accounting for 11% of trading receivables, it has fallen to 59.6 billion won on July 21, accounting for 6% of trading receivables.