South Korea's KOSPI index turned positive, with SK Hynix rising over 2%.
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The South Korean KOSPI index opened down 232.32 points, a drop of 3.03%.
According to ChainCatcher, Gate data shows that the South Korean KOSPI index opened down 232.32 points on Wednesday, July 8th, a drop of 3.03%, to 7,423.99 points. SK Hynix and Samsung Electronics both fell by 4%.
South Korea's KOSPI index fell further to 7%.
According to Mars Finance, on July 7th, the South Korean KOSPI index continued its decline, falling 7% to 7487.25 points. Samsung and SK Hynix both fell nearly 9%. Furthermore, Southern's double- long in Samsung Electronics (07747) fell over 20%, and Southern's double- long position in SK Hynix (07709) fell over 19%.
Goldman Sachs: Expects South Korea's KOSPI index to reach 12,000 points in the next 12 months.
According to Odaily Odaily, Goldman Sachs predicts that the South Korean KOSPI index will reach 12,000 points within the next 12 months, representing an increase of more than 20% from current levels. However, Goldman Sachs also warns that this upward trend may be "winding." In the market, tech stocks are poised for a strong start to the week, while the South Korean memory chip giant will once again test the waters of artificial intelligence trading. Nasdaq 100 futures rose 1%, S&P 500 futures rose 0.4%, and Dow futures were essentially flat. Samsung Electronics will report earnings on Tuesday; the chipmaker's stock has risen 165% this year, and its financial performance will be closely watched. A few days later, SK Hynix will also proceed with its $29 billion U.S. IPO.
South Korean lawmakers warn that the KOSPI index has "become a casino" and call for the delisting of leveraged ETFs.
Odaily Odaily reports that South Korean lawmakers are increasingly concerned about the risks of single-stock leveraged ETFs, with one opposition lawmaker calling for the delisting of such products. On Monday, Ahn Cheol-soo, a conservative People Power Party lawmaker and former presidential candidate, posted on social media calling for strong corrective measures, including delisting, for South Korean leveraged ETFs tracking Samsung Electronics and SK Hynix. He wrote that the Korea Composite Stock Price Index (KOSPI) "has become a casino," and that such products are "a complete policy failure, eroding trillions of won in corporate value and national wealth every day." His comments have heightened concerns among policymakers and investors about the risks of these ETFs. These products aim to achieve double the return on their underlying stocks, and their mechanized rebalancing process forces them to buy more when prices rise and sell more when prices fall, potentially amplifying market volatility. (Jinshi)
South Korea's KOSPI index rose 2% intraday.
According to BlockBeats, on July 6th, Bitget data showed that the South Korean KOSPI index rose by 2% intraday. Samsung Electronics rose 1.13%; SK Hynix fell 0.62%.
South Korea's KOSPI index fell below 7200 points, down more than 6% on the day.
PANews reported on July 8 that, according to Jinshi, the South Korean KOSPI index fell below 7200 points, down more than 6% on the day.