South Korea’s KOSPI plunged as much as 8% this morning, triggering a circuit breaker and halting trading for a while. The South Korean government held an emergency meeting this morning to shore up the market, waiving securities firms’ collateral requirements for margin financing for three months. It said it would introduce additional measures if volatility increased further.
After the news came out, the index rebounded, with its losses narrowing from 8% to 3.5%. Samsung and SK Hynix also clawed back most of their steep losses, though they’re still a long way below their June highs. Whether the circuit breaker and rescue measures can keep things afloat depends on how U.S. stocks open tonight, haha.
After the news came out, the index rebounded, with its losses narrowing from 8% to 3.5%. Samsung and SK Hynix also clawed back most of their steep losses, though they’re still a long way below their June highs. Whether the circuit breaker and rescue measures can keep things afloat depends on how U.S. stocks open tonight, haha.
