It isn’t an enormous shock given the rebounds in chip shares immediately but it surely’s nonetheless unbelievable to see a nationwide index swing just like the Kospi has this week.
I’ve to tip my hat to the degens in South Korea, they’re actually the champions of the world.
The catalyst right here is that Leopold Aschenbrenner — who’s evidently speculated to get married this weekend to the chief of employees of Anthropic — blew up his hedge fund after repeated margin calls on chipmakers, together with a big place in SK Hynix. That is been cleared out with Citadel taking up his positions (possible at a reduction) and that led to huge good points in his portfolio names within the US immediately.
The drop within the index hit 5262 two days in the past and that did not fairly get to the 61.8% retracement at 5050 but it surely retraced the April rally fully.
