Daniel TÓ

Korea's AI party is hitting the wall — and the KOSPI is paying the tab. 📉 $KOSPI closed at 6,799.59 (-1.63%) today, giving back yesterday's Nvidia-fueled gains. Samsung -3.4% (₩257,000), SK Hynix -3.2% (₩1,675,000). The euphoria isn't crashing — it's just… cooling. And Korea's retail army is feeling it first. The setup was always fragile. Chip-leveraged ETFs tracking Samsung and SK Hynix just posted ~$1B in August outflows ($381M + $601M) — the first monthly outflow since these products launched in late May . Regulators had already raised margin requirements and forced a 5-day paper-trading period on new buyers. Meanwhile margin debt sits at record highs, some investors are surrendering insurance policies to buy stocks, and the won is bleeding as foreign money exits. This market has been a rollercoaster: a historic -22% July , a -10% circuit-breaker halt on July 28 , a -5% halt on Aug 18 — then a +1.53% bounce yesterday after NVDA's monster quarter, capped by the Bank of Korea hiking rates to 3.00% . But zoom out: KOSPI is still +57.8% YTD , +113% in a year , and SK Hynix grew Q2 operating profit +557% YoY on HBM demand. The fundamentals are real — the leverage is what's getting washed out. Euphoria cools. Leverage burns. Real demand remains. That's the Korean way. 🇰🇷 #kospifallsasaitradingeuphoriacools #TaiwanTAIEXRetakes46500OnChipRally #NvidiaTrades$33.5BInFirst140Minutes #CentralBanksBuy289TonsGoldInQ2 #NvidiaRises8.74%AfterEarnings