Major Asia-Pacific stock markets broadly declined today (28th). In mainland China, losses among the three major A-share indices widened in the afternoon session. The Shanghai Composite Index was down 1.4%, the Shenzhen Component Index fell 4.4%, while the ChiNext Index plunged 7.1% to 3,336. Hong Kong stocks traded narrowly in the afternoon, edging down 16 pts or less than 0.1% to 25,191, with turnover at HKD183.326 billion. Taiwan stocks closed down 2,030 pts or 4.65% at 41,603. The Nikkei index struggled at intraday lows in afternoon trading, currently down 2,625 pts or 4% at 62,305. South Korea's Kospi once slumped 11.3% in the afternoon session, briefly falling below the 6,000 mark to an intraday low of 5,992. It last traded at 6,032 near the close, down 723 pts or 10.7%, marking a more than three-month low. A circuit breaker was also triggered, with stock trading suspended for 20 minutes, marking the eighth circuit breaker event this year. SAMSUNG and SK HYNIX were down 12.6% and 13.2%, respectively, near the close.
South Korean media reported that the Financial Services Commission of South Korea said during a meeting with brokerages and asset management companies that it would review and prepare additional measures to curb demand for single-stock leveraged ETFs, including setting caps on the total investment amount in single-stock leveraged ETFs for retail investors.
Repost: AASTOCKS