Koreas Stock Market Has Become a Real-Life Squid Game [65UxdgSZZxH]

The market that keeps switching itself off Last year the KOSPI was the most profitable stock market in the world. This year it peaked above 9,000 — then fell 27%, tripping Korea's circuit breakers five times in four months. Twice on days when nothing happened at all. This is what's actually going on inside it: two chip stocks that make up 60% of the index, 150 trillion won of forced institutional selling, 14 million retail investors catching it with borrowed money, and the sixteen 2x leveraged ETFs that turn ordinary volatility into a shredder. Samsung posted 89.4 trillion won in quarterly operating profit — plausibly the largest in corporate history. The stock fell 9.6% that day.