KOSPI Plunge Sparks 'JOMO' Sentiment: Investors Shift from FOMO to Joy of Missing Out

BlockBeats News, July 29th. According to Korean media reports, the Korean stock market has experienced a significant pullback recently, causing investor sentiment to shift from the previous fear of missing out (FOMO) to the "Joy of Missing Out" (JOMO).

The Korean KOSPI index fell by over 12% today, with SK Hynix dropping by more than 17%, marking its largest single-day decline on record. Samsung Electronics fell by over 13%, influenced by the weak performance of the U.S. semiconductor sector, the listing of Chinese memory chip manufacturer CXMT, and SK Hynix's earnings missing expectations.

At the same time, the liquidity in the Korean stock market continues to cool down. As of July 24th, the investor's margin balance has decreased by about 31 trillion Korean won from the June peak, and the outstanding balance of securities lending has decreased by about 6 trillion Korean won from its peak, reflecting a continuous exodus of leveraged funds from the market.