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On July 29, according to South Korean media reports, the South Korean stock market experienced a sharp decline for two consecutive days. On July 28, despite massive foreign investor sell-offs, South Korean retail investors bucked the trend by net buying over 4.3 trillion won to bottom-fish. However, on July 29, the market decline further widened, and retail investors turned to panic selling, with net selling of 1.42 trillion won in the morning, indicating that the previously absorbed funds had begun to stop losses and exit. As of the morning of July 29 local time, the KOSPI had fallen by over 12% at one point, and the KOSDAQ by over 8%, both triggering circuit breakers for the first time in history. Samsung Electronics and SK Hynix suffered heavy losses for two consecutive days, with a combined market cap evaporation of approximately 530 trillion won, of which Samsung Electronics shrank by 257 trillion won and SK Hynix by 273 trillion won. Citigroup estimates that the cumulative losses of leveraged ETFs held by South Korean retail investors amount to approximately $38.7 billion (about 56.3 trillion won). At the same time, the margin balance of South Korean investors has decreased by more than 30 trillion won from its peak, while the net purchase of U.S. stocks by South Korean investors in July surged about 5.7 times month-on-month, indicating that funds are accelerating out of Korean stocks and shifting to overseas markets.

[South Korean Retail Investors Lose 530 Trillion Won After Failed Bottom-Fishing]On July 29, according to South Korean media reports, the South Korean stock market experienced a sharp decline for two consecutive days. On July 28, despite massive foreign investor sell-offs, South Korean retail investors bucked the trend by net buying over 4.3 trillion won to bottom-fish. However, on July 29, the market decline further widened, and retail investors turned to panic selling, with net selling of 1.42 trillion won in the morning, indicating that the previously absorbed funds had begun to stop losses and exit. As of the morning of July 29 local time, the KOSPI had fallen by over 12% at one point, and the KOSDAQ by over 8%, both triggering circuit breakers for the first time in history. Samsung Electronics and SK Hynix suffered heavy losses for two consecutive days, with a combined market cap evaporation of approximately 530 trillion won, of which Samsung Electronics shrank by 257 trillion won and SK Hynix by 273 trillion won. Citigroup estimates that the cumulative losses of leveraged ETFs held by South Korean retail investors amount to approximately $38.7 billion (about 56.3 trillion won). At the same time, the margin balance of South Korean investors has decreased by more than 30 trillion won from its peak, while the net purchase of U.S. stocks by South Korean investors in July surged about 5.7 times month-on-month, indicating that funds are accelerating out of Korean stocks and shifting to overseas markets.

South Korean Retail Investors Lose 530 Trillion Won After Failed Bottom-Fishing

According to monitoring by Beating, OpenAI has reset the usage quota for ChatGPT Work and Codex users. The previously paused 5-hour usage limit will also resume tomorrow. Many users have noticed that the GPT-5.6 Sol consumes quota faster than expected. The reason is not a reduction in subscription quota, but rather that the model is more willing to work for longer periods and will also invoke more tools and sub-agents. Especially when waiting for tool execution while continuing to process other tasks, Sol generates more tool calls, responses, and cached tokens. As a result, complex tasks and extensive web searches can quickly deplete the quota. OpenAI has optimized the related mechanisms, and under normal usage, the quota is expected to last approximately 18% longer.

[OpenAI Resets Codex Quota, 5-Hour Limit to Resume Tomorrow]According to monitoring by Beating, OpenAI has reset the usage quota for ChatGPT Work and Codex users. The previously paused 5-hour usage limit will also resume tomorrow. Many users have noticed that the GPT-5.6 Sol consumes quota faster than expected. The reason is not a reduction in subscription quota, but rather that the model is more willing to work for longer periods and will also invoke more tools and sub-agents. Especially when waiting for tool execution while continuing to process other tasks, Sol generates more tool calls, responses, and cached tokens. As a result, complex tasks and extensive web searches can quickly deplete the quota. OpenAI has optimized the related mechanisms, and under normal usage, the quota is expected to last approximately 18% longer.

OpenAI Resets Codex Quota, 5-Hour Limit to Resume Tomorrow

On July 29, the South Korean stock market weakened, and Southern Double Long Hynix (07709.HK) also saw a significant decline. By the close of the Hong Kong stock market at noon, the product had dropped by 25.72% today, bringing its decline since July to 81.05%. Data shows that the latest asset size of this product is HKD 31.92 billion, a decrease of 70% compared to its peak size. Another leveraged product under Southern Dongying, linked to South Korean chip stocks, also experienced a sharp drop: by the noon close of the Hong Kong stock market, Southern Double Long Samsung Electronics (07747.HK) fell by 16.56% today, with a monthly decline of 69.55%.

[Southern Double Long Hynix Drops Over 80% Since July, Plummets Nearly 26% Today]On July 29, the South Korean stock market weakened, and Southern Double Long Hynix (07709.HK) also saw a significant decline. By the close of the Hong Kong stock market at noon, the product had dropped by 25.72% today, bringing its decline since July to 81.05%. Data shows that the latest asset size of this product is HKD 31.92 billion, a decrease of 70% compared to its peak size. Another leveraged product under Southern Dongying, linked to South Korean chip stocks, also experienced a sharp drop: by the noon close of the Hong Kong stock market, Southern Double Long Samsung Electronics (07747.HK) fell by 16.56% today, with a monthly decline of 69.55%.

Southern Double Long Hynix Drops Over 80% Since July, Plummets Nearly 26% Today

On July 29, South Korean media reported that the recent significant correction in the Korean stock market has caused investor sentiment to shift from the previous fear of missing out (FOMO) to a sense of relief for not having invested (JOMO, Joy of Missing Out). The KOSPI index dropped over 12% at one point today, with SK Hynix falling more than 17%, marking its largest single-day decline, and Samsung Electronics dropping over 13%. This decline was influenced by the weakening of the U.S. semiconductor sector, the listing of Chinese memory chip manufacturer CXMT, and SK Hynix's disappointing earnings report. Meanwhile, the liquidity in the Korean stock market continues to cool. As of July 24, the balance of investor margin accounts has decreased by approximately 31 trillion won from the peak in June, and the balance of margin trading has decreased by about 6 trillion won from its high, reflecting the ongoing withdrawal of leveraged funds from the market.

[Korean Stock Market Plunge Triggers 'JOMO' Sentiment: Investors Shift from Fear of Missing Out to Relief of Not Investing]On July 29, South Korean media reported that the recent significant correction in the Korean stock market has caused investor sentiment to shift from the previous fear of missing out (FOMO) to a sense of relief for not having invested (JOMO, Joy of Missing Out). The KOSPI index dropped over 12% at one point today, with SK Hynix falling more than 17%, marking its largest single-day decline, and Samsung Electronics dropping over 13%. This decline was influenced by the weakening of the U.S. semiconductor sector, the listing of Chinese memory chip manufacturer CXMT, and SK Hynix's disappointing earnings report. Meanwhile, the liquidity in the Korean stock market continues to cool. As of July 24, the balance of investor margin accounts has decreased by approximately 31 trillion won from the peak in June, and the balance of margin trading has decreased by about 6 trillion won from its high, reflecting the ongoing withdrawal of leveraged funds from the market.

Korean Stock Market Plunge Triggers 'JOMO' Sentiment: Investors Shift from Fear of Missing Out to Relief of Not Investing

On Wednesday, July 29, Korean retail investors faced forced liquidation of approximately 1.7 trillion won (about $1.2 billion) in holdings. South Korea's KOSPI index once fell over 12%, and SK Hynix dropped more than 17%, setting a record for the largest single-day decline. 'There have been many forced liquidation cases today,' said Jung In Yun, global CEO of Fibonacci Asset Management. 'We need to wait until the selling sentiment among retail investors eases before taking action.'

[Korean Retail Investors Forced to Liquidate 1.7 Trillion Won; Institutions Wait for Calm]On Wednesday, July 29, Korean retail investors faced forced liquidation of approximately 1.7 trillion won (about $1.2 billion) in holdings. South Korea's KOSPI index once fell over 12%, and SK Hynix dropped more than 17%, setting a record for the largest single-day decline. 'There have been many forced liquidation cases today,' said Jung In Yun, global CEO of Fibonacci Asset Management. 'We need to wait until the selling sentiment among retail investors eases before taking action.'

Korean Retail Investors Forced to Liquidate 1.7 Trillion Won; Institutions Wait for Calm

On July 29, according to public market data, "Big Short" Michael Burry began shorting NVDA at approximately $198.09, AMAT at approximately $729.40, and SOXX at approximately $642.80 on June 30; he initiated a direct short on Micron at approximately $1,051.87 in early July; and around July 24, he added to his shorts in Micron, Nvidia, and SOXX. As of the close of U.S. stocks on July 28, the floating gains on shorts were: AMAT approximately 34.7%, SOXX approximately 23.3%, Micron Technology approximately 22.0%, and Nvidia approximately 0.5%. Without considering position weights, the simple average floating gain for the short portfolio established from late June to early July was approximately 20.1%. Additionally, if the added short positions are approximately calculated based on the closing price on July 24, as of the close on July 28, the floating gains on the added shorts for Micron Technology, Nvidia, and SOXX were approximately 10.9%, 4.8%, and 6.4%, respectively, with a simple average of approximately 7.4%. Due to the current lack of information on specific short sizes, option structures, add ratios, and whether positions have been closed, actual profit amounts cannot be calculated.

["Big Short" Michael Burry Shorts Semiconductors, Gains Up to ~34.7%]On July 29, according to public market data, "Big Short" Michael Burry began shorting NVDA at approximately $198.09, AMAT at approximately $729.40, and SOXX at approximately $642.80 on June 30; he initiated a direct short on Micron at approximately $1,051.87 in early July; and around July 24, he added to his shorts in Micron, Nvidia, and SOXX. As of the close of U.S. stocks on July 28, the floating gains on shorts were: AMAT approximately 34.7%, SOXX approximately 23.3%, Micron Technology approximately 22.0%, and Nvidia approximately 0.5%. Without considering position weights, the simple average floating gain for the short portfolio established from late June to early July was approximately 20.1%. Additionally, if the added short positions are approximately calculated based on the closing price on July 24, as of the close on July 28, the floating gains on the added shorts for Micron Technology, Nvidia, and SOXX were approximately 10.9%, 4.8%, and 6.4%, respectively, with a simple average of approximately 7.4%. Due to the current lack of information on specific short sizes, option structures, add ratios, and whether positions have been closed, actual profit amounts cannot be calculated.

"Big Short" Michael Burry Shorts Semiconductors, Gains Up to ~34.7%

On July 29, a senior Iranian official stated that Tehran has rejected Oman's proposed joint management plan for the Strait of Hormuz region, deeming it unlikely to succeed. Iran refuses to allow other countries to participate in the management of the Strait of Hormuz and believes that only Iran and Oman can determine relevant arrangements based on their respective territorial waters. Iran insists that all shipping routes entering the Strait of Hormuz, as well as some exit routes, must be under Iranian control. A 50-50 joint management arrangement with Oman is not in Iran's interests, although Tehran views Oman as a valuable neighbor. The United States and Saudi Arabia are attempting to pressure Oman to advance its unrealistic plan for the Strait of Hormuz. (Jin Shi)

[Iran Rejects Oman's Joint Management Plan for Strait of Hormuz, Insisting on No 50-50 Split]On July 29, a senior Iranian official stated that Tehran has rejected Oman's proposed joint management plan for the Strait of Hormuz region, deeming it unlikely to succeed. Iran refuses to allow other countries to participate in the management of the Strait of Hormuz and believes that only Iran and Oman can determine relevant arrangements based on their respective territorial waters. Iran insists that all shipping routes entering the Strait of Hormuz, as well as some exit routes, must be under Iranian control. A 50-50 joint management arrangement with Oman is not in Iran's interests, although Tehran views Oman as a valuable neighbor. The United States and Saudi Arabia are attempting to pressure Oman to advance its unrealistic plan for the Strait of Hormuz. (Jin Shi)

Iran Rejects Oman's Joint Management Plan for Strait of Hormuz, Insisting on No 50-50 Split

On July 29, South Korea’s stock market weakened today, and the CSOP Double Long Daily Hynix (07709.HK) also fell sharply. As of the midday close in Hong Kong, the product dropped 25.72% on the day, with losses since July reaching 81.05%. Data shows that the latest asset size of this product is 31.92 billion Hong Kong dollars, down 70% from its peak. Another leveraged product under CSOP Asset Management linked to South Korean chip stocks also saw significant declines: as of the midday close in Hong Kong, the CSOP Double Long Daily Samsung Electronics (07747.HK) fell 16.56% on the day and has declined 69.55% this month. (Jin Shi)

[CSOP Double Long Daily Hynix Plunges Nearly 26%, Down Over 80% Since July]On July 29, South Korea’s stock market weakened today, and the CSOP Double Long Daily Hynix (07709.HK) also fell sharply. As of the midday close in Hong Kong, the product dropped 25.72% on the day, with losses since July reaching 81.05%. Data shows that the latest asset size of this product is 31.92 billion Hong Kong dollars, down 70% from its peak. Another leveraged product under CSOP Asset Management linked to South Korean chip stocks also saw significant declines: as of the midday close in Hong Kong, the CSOP Double Long Daily Samsung Electronics (07747.HK) fell 16.56% on the day and has declined 69.55% this month. (Jin Shi)

CSOP Double Long Daily Hynix Plunges Nearly 26%, Down Over 80% Since July

On July 29, the Nikkei 225 index fell 3% intraday, now at 60,490.58 points. (Jin Shi)

[Nikkei 225 Drops 3% Intraday, Now at 60,490.58]On July 29, the Nikkei 225 index fell 3% intraday, now at 60,490.58 points. (Jin Shi)

Nikkei 225 Drops 3% Intraday, Now at 60,490.58

On July 22, Russian Foreign Minister Lavrov stated that the meeting with U.S. Secretary of State Rubio has been scheduled for tomorrow.

[Russian Foreign Minister Lavrov: Meeting with U.S. Secretary of State Rubio Scheduled for Tomorrow]On July 22, Russian Foreign Minister Lavrov stated that the meeting with U.S. Secretary of State Rubio has been scheduled for tomorrow.

Russian Foreign Minister Lavrov: Meeting with U.S. Secretary of State Rubio Scheduled for Tomorrow

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Descargo de responsabilidad：El contenido anterior no representa las posiciones de HTX.，HTX no ofrece ninguna recomendación de trading.。

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