Seoul Mayor Criticizes South Korean Government for Allowing Leveraged Products to Impact Stock Market
BlockBeats News, July 17th, according to Yonhap News Agency, Seoul Mayor Won Soon Park criticized the leveraged derivative issues that caused a significant turmoil in the South Korean stock market, as well as President Jae-myung Lee's proposal of "active debt relief" policy, urging the government to promptly come up with fundamental measures.
He pointed out that the South Korean KOSPI index has triggered the circuit breaker mechanism 37 times this year, surpassing the record of 26 times for the entire year of the 2008 global financial crisis. Mayor Park criticized, "The government knew full well about the immense risk of a single stock leveraged derivative product but still approved its listing, stood by as the assets of retail investors kept evaporating, and ultimately led to the current situation."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Samsung increases investment in AI infrastructure! Invests 1 billion USD in Helix Digital, owned by KKR (KKR.US)
Several subsidiaries of Samsung Group have agreed to invest a total of $1 billion in Helix Digital, a U.S. company backed by private equity giant KKR, further expanding the Korean conglomerate's presence in the rapidly growing artificial intelligence infrastructure market.
More than 20 billions spent this year! Eli Lilly (LLY.US) CEO: We will target “white spaces” in pharmaceuticals and continue to pursue larger-scale mergers and acquisitions.
Eli Lilly CEO Dave Ricks stated that investors can expect the company to pursue larger-scale deals, as it is extensively searching for assets in the "white spaces" of the scientific field.
Is the “AI bank run” coming? Apollo warns: AI assistants may drain banks' cheap deposits, which will pose risks to the financial system
Torsten Slok, Chief Economist at Apollo Global Management, stated that if consumers begin to heavily rely on AI assistants such as Muse under Meta and transfer cash to higher-yielding accounts, it could pose risks to the financial system.
Crypto prices
More
