Svmuu News: South Korea’s KOSPI index rose as much as 6.2% during Wednesday’s trading session, bringing its cumulative gain over the past two trading days to nearly 10%. Among them, SK Hynix rose more than 9% at one point, while Samsung Electronics gained over 6%, with chip stocks leading the market higher.
JPMorgan ChaseA recent report indicates that the deleveraging process for South Korean leveraged ETFs, which accounted for approximately 75% of positions, has been completed.Data from the Korea Financial Investment Association shows that as of July 16, South Korea’s margin debt balance had fallen to 33.4 trillion won (approximately $22.6 billion), down 13% from its peak at the end of June.
In addition, as of Wednesday morning, net foreign buying of South Korean stocks had exceeded $1 billion, marking the first significant inflow in about a month. (Bloomberg)