Everyone Got Blown Out Of Korea. Now It Gets Interesting
Korea After The Puke
The Korean mania has been thoroughly cleaned out. Leverage has collapsed, margin balances are falling and KOSPI vol has crashed, yet the index remains stuck near key technical levels as SK Hynix and Samsung lag the broader rebound. Meanwhile, KOSDAQ keeps squeezing and the valuation reset is substantial. With the excess flushed and vol finally cheaper, Korea is starting to look interesting again, especially if the two giants wake up.