Storage of "deleveraging", South Korean retail investors fall into "fear of exploding positions" again

[Author] Su Yang [Editor] Xu Qingyang showed a significant correction in the South Korean stock market on October 12. The Composite Stock Price Index (KOSPI) closed at 6,384.25 points, a drop of 3.65%. The semiconductor sector was under significant pressure. Samsung Electronics closed at 250500 won, a decrease of 4.39%;SK Hynix closed at 1605000 won, a decrease of 4.52%. The decline continued the next trading day, and programmatic selling operations were suspended during the session. If you go back to the all-time high of 9,385.59 set on June 22, KOSPI has fallen by nearly 32% in about four months. The market generally believes that this decline is a technical adjustment triggered by high profit-taking. However, if the perspective is focused on the micro links of the AI industry chain, the pressure brought by capital withdrawal may exceed the short-term scope. Among the three major concerns worthy of attention, the first one is the field of AI infrastructure investment.