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What are the highlights of the 250th anniversary celebrations of the founding of the United States?

2026-07-03

What are the highlights of the 250th anniversary celebrations of the founding of the United States?

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2026-07-03

Spain's IBEX 35 rose 1.00% intraday.

Spain's IBEX 35 rose 1.00% intraday.
2026-07-03

Data shows that margin lending in South Korean banks reached a record 36.47 trillion won this year, double that of the same period last year. Even as South Korean brokerages raised margin rates to nearly 10%, retail investors didn't stop, instead uti

Data shows that margin lending in South Korean banks reached a record 36.47 trillion won this year, double that of the same period last year. Even as South Korean brokerages raised margin rates to nearly 10%, retail investors didn't stop, instead utilizing bank credit lines. Household bank loans surged by 9.3 trillion won in May alone, the fastest monthly increase since August 2024. Data from the Bank of Korea directly links this surge to stock investments, rather than mortgage loans. Middle-aged and elderly South Koreans are borrowing money specifically to speculate in stocks so as not to miss out on rising prices, and their investments are often larger than those of younger investors. South Korea currently has 102 million active trading accounts, while the national population is only 52 million. Although foreign investors net sold 120 trillion won worth of South Korean stocks this year, retail investors net bought 75 trillion won to absorb the losses, most of which was borrowed. The market needs to pay close attention to the underlying financial data in South Korea, which is showing signs of pressure: ① Household debt-to-income ratio: 174%. ② 44% of borrowers have been late or defaulted on payments in the past six months. ③ Banks are limiting lending as annual lending quotas are exhausted months in advance. ④ Brokerage margin rates are approaching 10%. The market currently expects the Bank of Korea to raise interest rates next month. A rate hike will increase the cost of every loan currently used to finance stock holdings and bank credit lines. When borrowed money becomes more expensive during a market downturn, the resulting forced selling will be extremely severe.
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