$SK hynix(SKHY)$ I don't think we'll see any meaningful stabilization until the leveraged bets calm down over there. When two companies make up more than 50% of the national index and retail is pouring into leveraged instruments, these moves become self-reinforcing.
KOSPI has corrected 40% in a single month. That's extreme. There have been 7 circuit breakers since Jun 8 and 12 sessions with declines greater than 5%. With margin running at 500%, a 5% drop likely triggers a margin call, a 10% drop wipes out half, and a 20% move takes out the entire equity position.
Offshore retail casinos don't even come close to this level of risk-taking.
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