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International Business Times UK
International Business Times UK
World
Dani Oh

South Korea Stock Chaos: Investors Lay Funeral Wreaths After ETF Rout as KOSPI Wipes $2T, Minister Apologises

Retail investors placed funeral wreaths outside South Korea's National Assembly after a sharp KOSPI decline renewed scrutiny of leveraged ETFs and prompted a government apology. (Credit: Tumisu/Pixabay)

South Korean retail investors placed funeral wreaths outside the National Assembly after a sharp stock market sell-off wiped more than $2 trillion from the value of domestic shares and prompted demands for tighter controls on leveraged investment products.

The protest followed a steep decline in the benchmark KOSPI index, which fell by around 40 per cent from its June peak as technology stocks, including Samsung Electronics and SK Hynix, came under heavy selling pressure.

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