Young Koreans compete to showcase stock market losses

Young Koreans are coping with a plummeting stock market by creating humorous videos and memes to display their losses on social media.

In the first half of this year, South Korea's benchmark stock index, Kospi, surged thanks to the artificial intelligence wave. However, the index recently experienced its most volatile period, ending july with a 22% decrease from the previous month and losing about one-third of its value from its june peak.

This volatility led to significant losses for many individual investors. Young Koreans began sharing videos of their "red" portfolios – indicating substantial losses. This trend quickly spread across TikTok and Instagram, with numerous self-deprecating posts tagged "stocks", "Hynix", and "empathy". Young individual investors transformed their financial setbacks into a form of humor.

A South Korean account overlaid the Kospi index onto a rollercoaster scene, mimicking its up-and-down movements, on 18/6. Source: 리뷰진/TikTok

On Instagram, one user posted a dancing video featuring a portfolio displaying losses from Samsung Electronics and SK Hynix shares. The user quipped, "I failed to lose weight, but my investment account successfully did."

Another account filmed themselves eating instant noodles at a convenience store, showcasing a portfolio chart down over 68%. The investor explained that plummeting stock prices forced her to eat frugally. Another user filmed themselves shouting next to their losing portfolio, expressing a desire to escape the market.

Instagram users typically post screenshots of their personal portfolios, while TikTok users satirize overall market volatility. For example, one account overlaid the Kospi index onto a rollercoaster scene, mimicking its fluctuating movements.

This humorous trend emerges as South Korean households carry the highest debt among developed nations. The early-year artificial intelligence craze drew many individual investors, with some using borrowed funds. As the Kospi index plummeted, these memes became a tool for psychological relief.

The sell-off erupted after demand for artificial intelligence memory chips drove Samsung Electronics and SK Hynix share prices to record highs, creating market dependence on these two manufacturers. Margin calls from investors who bought shares with borrowed money further accelerated the downturn.

Regulators are concerned that leveraged exchange-traded funds (ETFs) for single stocks in South Korea could fuel speculative sentiment. Authorities decided to temporarily halt new listings of these funds, prohibit financial companies from advertising them, and increase minimum margin requirements for individual investors.

Minh Phuong (According to Insider)

By VnExpress: https://vnexpress.net/dua-nhau-khoe-lo-chung-khoan-5106913.html