Loading ...From Momentum To Mayhem: Korean ‘Plunge Protectors’ Meet As Leverage Unwind Sparks Chaos
That is a lesson that many are learning in a painful manner as the army that enjoyed the momentum escalator ride up are now decrying the elevator plunge lower… and the poster-child for this pain is Korea.
South Korea will hold an emergency meeting Wednesday evening to discuss the market situation after a stocks rout that has wiped billions of dollars off investors’ holdings. The meeting, hosted by Finance Minister Koo Yun Cheol, will involve all of the country’s top financial authorities, starting from 6 p.m. local time, according to lawmaker Yoo Dong-soo.