South Korean Finance Minister Apologizes for Launching Single Stock Leveraged ETF

South Korean Finance Minister Choo Kyung-ho has apologized for launching a single stock leveraged ETF without careful consideration. On July 29, the KOSPI index experienced a circuit breaker for two consecutive days, with an intraday drop exceeding 6%. During a speech at the National Assembly, Choo mentioned that the government is researching measures to stabilize the market and may further adjust regulations related to single stock leveraged ETFs to respond to market volatility. On Wednesday, the KOSPI index faced turbulence, with an intraday drop of 12%, ultimately narrowing the decline to about 6%; major stock SK Hynix saw its maximum drop post-earnings reach 17%, which has since narrowed to around 8%.

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