Goldman Sachs says machines, not fundamentals, drove Korea's 8.95% crash — and the flow data now points to a reset.
The KOSPI rebounded 0.73% to 6,956.83 on Tuesday after Monday's circuit-breaker plunge, which global banks attribute to mechanical leveraged-ETF selling — program trades made up 45.4% of crash-day flows. SK Hynix short balances dropped below 0.01% of market cap, while retail investors net bought 4.15 trillion won (about $3 billion) across July's six down sessions. Morgan Stanley raised 2027-28 big-tech capex forecasts by 9-10%, and four of Korea's ten most-traded products are now single-stock leveraged ETFs.
Sources:
Mechanical Leveraged Selling Amplified the Crash, Semiconductors Not Done Yet — Seoul Economic Daily, July 15, 2026
Short-Selling Pressure on SK Hynix Passes Its Peak — Seoul Economic Daily, July 15, 2026
Four of Top 10 by Trading Value Are Single-Stock Leveraged ETFs — Seoul Economic Daily, July 15, 2026
Retail Investors Buy the Dip Across Six Down Sessions in July — Seoul Economic Daily, July 15, 2026
About AI PRISM:
AI PRISM is Seoul Economic Daily's WAN-IFRA award-winning newsroom AI series, delivering Korean economic news adapted for global audiences. Episodes are produced with AI assistance and reviewed by a human editor.
Tags:
#KOSPI #SKHynix #LeveragedETF #GoldmanSachs #Semiconductors #ShortSelling #RetailInvestors #ProgramTrading #AIPRISM #SeoulEconomicDaily #WANIFRA
댓글