r/stocks
The South Korean stock market experienced a massive shock. You guys ok?
SK Hynix plunges ~21% in after-hours, triggering a market halt in South Korea amid foreign selling and currency weakness concerns.
- SK Hynix experienced a severe price drop (~21% in after-hours), triggering an automatic trading halt due to extreme volatility.
- Foreign investors are aggressively selling Korean assets, potentially rotating capital into US markets like SpaceX, indicating weak local support.
- Macroeconomic headwinds including a weakening KRW (hitting 1,550) and inflation fears are undermining investor confidence despite current account surpluses.
South Koreans were getting rich until very recently, riding the wave of Samsung/SK hynix stock explosion. Well yesterday it was a bloodbath. The South Korean stock market experienced a massive shock which local media quickly dubbed "Black Friday." SK Hynix Plunges Nearly 10%, my IBKR app shows -21.29% in afterhours. It seems the drop was so violent that it triggered an automatic "sidecar" halt just eight minutes after the opening bell to curb market volatility.
On some social media users reported things like:
“Foreigners use the KOSPI like an ATM. As soon as America sneezes, they empty out our market to buy SpaceX.”
“The government promised the ‘Value-Up’ program would protect retail investors, but we just got crushed by foreign profit-taking again.”
“Foreigners use the KOSPI like an ATM. As soon as America sneezes, they empty out our market to buy SpaceX.”
“The government promised the ‘Value-Up’ program would protect retail investors, but we just got crushed by foreign profit-taking again.”
“Forget the KOSPI, the exchange rate hitting 1,550 is terrifying. Inflation is going to destroy our grocery bills next month.”“A record current account surplus and yet our currency is performing the worst in Asia. Nothing makes sense anymore.”
Would love to hear from local small investorsin South Korea stock market. Are you guys ok? Does your sentiment feel similar to above?
A popular online meme in Korea was
How to make profit from the stock market:
Rule #1: Never buy Korean stocks.
Rule #2: Never forget Rule #1.
how many memes are just astroturfing against people's interests I wonder
A stock up 200% YTD means it is at 300% of the original value.
Then it drops 10%, so:
300% × 90% = 270%
So it is still up 170% from the start of the year.
Example:
$100 → up 200% = $300 → down 10% = $270.
I think South Korean stocks are probably held by American money as much as SK
Oh my God that was money people prepaid for funeral services and eth is down another 20%. Straight to jail
I'd play with his balls for a few mil. He's missing out.
If China takes Taiwan
there is an absolute 0% chance that happens anytime soon
Exactly. It's the people who missed this massive melt up trying to feel good about being in cash. We're at levels we haven't seen since.....LAST WEEK?!?!!
SK Hynix workers are buying Lambos
I think the people who buy at ATH disappear is why you dont hear it more often.
It mainly those still up 10-200% still around to talk about the drop.
Eh even if you have the machines you still need an army of PhDs to run them efficiently
I decided to get in when silver was at its peak. The view was great for about 30min
No different than Mag 7 + a few big stocks in US market.
Its a massive difference. Samsung and Hynix are way more dominant than MAG7
There is also always a home bias. And Koreans are known for invesitng/gambling in all kinds of assets incl. crypto
The thing I was pointing to is the huge bonuses many of them received, 400k-900K USD for every employee SK hynix (35K employees). And at Samsung (80K employees)
also horse race and street games. i heard from somewhere they go all in on those things often.
street games
Like Squid Game? Sounds fun.