Hit hard by the overnight plunge in US stocks, South Korean individual investors heavily invested in US stocks (known as "Seochak Ants") suffered a massive single-day loss. It is estimated that their paper losses reached at least 13 trillion won.
According to data released on November 6th by SEIBRO, the securities information portal of the Korea Securities Depository and Clearing Corporation (KSD), as of November 4th, the total market value of US stocks held by "Seochak Ants" was $179.459 billion (approximately 243.53 trillion won).
However, with the across-the-board plunge in the three major US stock indices on November 5th (the S&P 500 fell 4.36%, and the Dow Jones Industrial Average fell 3.44%), especially the tech-heavy Nasdaq index which plummeted 5.52%, a rough estimate of their total holdings, if applied to this decline, is equivalent to a single-day evaporation of $9.906 billion (approximately 13.44 trillion won). In reality, the losses for South Korean retail investors are far greater than this, as the decline in their heavily invested stocks far exceeded the overall market decline.
It is estimated that the four core holdings of "Westernized Ant Group" collectively evaporated nearly 8.7 trillion won in paper wealth in a single day. Among them, Tesla, its "favorite," plummeted 10.77%, losing approximately 3.2 trillion won in a single day; Nvidia fell 9.26%, wiping out about 2 trillion won; the SOXL ETF (3x leveraged semiconductor ETF) plunged 38.71%, losing over 2.7 trillion won; and Micron fell 17.46%, shrinking by over 800 billion won. Hit hard by this plunge, the market speculates that the total valuation of "Westernized Ant Group's" US stock holdings has fallen below the $170 billion mark.
