"18% Surge, a Day of Money Printing" — Amid Cheers, Retail Investors Decide to Get Out of What They Call a "National Casino"

[Financial News] On the last day of July, when KOSPI staged a historic rebound, sentiment among individual investors also swung sharply. Some cheered after moving back into positive territory, while many others, worn down by extreme volatility, chose to exit.
According to the Korea Exchange, KOSPI closed on the 31st of last month at 6,595.45, up 1,001.89 points, or 17.91%, from the previous trading day. The 17.91% gain is the biggest daily rise in KOSPI history. The previous record was 11.95%, set on Oct. 30, 2008, during the Global Financial Crisis (GFC).
Samsung Electronics and SK hynix closed at 262,500 won and 1,718,000 won, respectively, up 26.81% and 29.95%. SK Square and Samsung Electro-Mechanics also hit the daily upper limit early in the session.
The rally was fueled by a tailwind from the New York stock market. As concerns over Artificial Intelligence (AI) investment eased, semiconductor stocks surged in New York, and the domestic market followed with a sharp upswing.
Individual investors, who had been suffering through the recent selloff, could not hide their smiles. One investor told News 1, "This is a day of money printing. I haven't been able to focus on work for a while, but today, no matter what anyone does, the world looks bright."
By contrast, those who sold at a loss the day before the surge could not hide their bitterness. One investor, who had previously been pushed into a "surrender sale," said, "My average price for Samsung Electronics was 80,000 won. I held on for five years, but I couldn't withstand the volatility and sold two days ago at 200,000 won." The investor added, "It hurts."
Not everyone welcomed the rally. Individual investors exhausted by the market's record volatility throughout the month said KOSPI had turned into a "gambling den." Some described securities company trading apps, or Mobile Trading System (MTS), as a "state-certified mobile Toto," while others called the market a "national casino," revealing deep unease about the domestic stock market.
In fact, individuals left the market after net selling 826.09 billion won worth of KOSPI stocks that day. Foreign investors, by contrast, posted a record net buy of 7.2201 trillion won, while institutions also bought a net 1.1469 trillion won.
[email protected] Kim Hee-sun Reporter