KOSPI 5% plunge triggers a sell-sidecar, while “Samjeonnics Leverage” falls sharply in a week
7month 8day, KOSPI plunged 5%, triggering a sell-sidecar, while leverage products in the “Samjeonnics Leverage” group, popular among retail investors, posted losses ranging from around -40% to as much as -50%. Daily trading value reached several trillion won. Shifts in retail investors’ holdings were also detected.
7month 8day, KOSPI plunged 5%, triggering a sell-sidecar. The sell-sidecar was implemented immediately in the market as a measure to halt the intraday plunge.
During the same period, numerous leverage products, including “Samjeonnics Leverage,” widely held by retail investors, were reported to have fallen by around -40% over a week. Some investors said their returns reached as low as -50%.
Daily trading value for the leverage products reached several trillion won per day. As trading became concentrated, price volatility expanded significantly.
A partial shift in the flow of individual investor trading from Samsung Electronics to SK hynix was observed. This trend also affected the trading value and quotes of the related stocks.
After a sharp decline early in the session, there was a period when the losses narrowed and the market shifted into a flat range, while intraday volatility continued. At the scene, investors reported cases of lamenting their losses, saying, "5,000my gains were cut in half."
Trading is still underway, and intraday volatility and the concentration of trading mainly in leveraged products remained key features of the day's market movements.