▲ The KOSPI and other indices are displayed on a monitor at the dealing room of Hana Bank in Jung-gu, Seoul, on the 28th. On this day, the KOSPI closed up 374.10 points (6.63%) at 6,012.44, while the KOSDAQ finished up 27.45 points (3.69%) at 771.28.
As the KOSPI shows signs of a rebound, investor deposits, which serve as standby funds for the stock market, have recovered to the 90 trillion won range.
According to the Korea Financial Investment Association today (the 28th), investor deposits were tallied at 90.103 trillion won as of the previous day (the 27th).
This marks the first time investor deposits have exceeded 90 trillion won in five trading days since reaching 90.2976 trillion won on the 20th.
Conversely, the balance of credit transactions for margin trading—an indicator of "debt-fueled investing"—stood at 29.6372 trillion won, falling below 30 trillion won for the first time in about two and a half months since August 7, when it was 29.2304 trillion won.
The actual amount of forced liquidation against brokerage margin calls was 19.3 billion won.
Previously, when the KOSPI plunged for six consecutive trading days, forced liquidation reached 89.3 billion won on the 14th, and 80.5 billion won was forcibly liquidated on the 15th when the index plummeted 7.57% and sank to the 5,500 level.
On the 27th, the KOSPI closed up 3.09% at 5,638.34.
Subsequently, the index surged 6.63% to finish trading at 6,012.44 today.
This is the first time in 10 trading days that the KOSPI has broken back above the 6,000 threshold on a closing basis since the 14th (6,008.81).
This is interpreted as investment funds flowing back into the stock market as the KOSPI rebounds after a long hiatus.
However, amid concerns over forced liquidation due to margin calls, investors remain cautious about debt-financed investments.
Financial authorities have instructed the securities industry to take a more active role in managing credit loans.
Seo Jae-wan, Deputy Governor for the Financial Investment Division at the Financial Supervisory Service, held a joint meeting the previous day with the Korea Financial Investment Association and chief risk officers (CROs) of comprehensive financial investment businesses, urging them to strengthen risk management and investor protection through preemptive credit loan management.
As part of self-regulatory measures, the industry capped the total credit offering limit within 90% of equity capital starting on the 1st, and has been managing individual credit loan stocks since the 19th so that no single stock exceeds 15% of each firm's total credit loans.
Lee Jae-won, an analyst at Yuanta Securities, said, "The domestic stock market is positively passing the second ridge of its rebound accompanied by foreign buying," adding, "As the persistence of foreign spot net purchases and confidence in AI investment profitability are being confirmed, we recommend responding by expanding allocations incrementally."
(Photo: Yonhap News)
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