From BigGo Finance · BigGo Finance · · 1m 20s
KOSPI 'Promised 2 P.M.' Meme Spreads
South Korea's KOSPI 'Promised 2 P.M.' meme spreads as analysts deny statistical basis for afternoon declines.
In brief
South Korea's KOSPI 'Promised 2 P.M.' meme spreads as analysts deny statistical basis for afternoon declines. Retail investors in South Korea spread a meme about KOSPI stock wobbles around 2 p.m., but analysts say there's no statistical rule for specific-time declines. Originally reported by BigGo Finance.
KOSPI 'Promised 2 P.M.' Meme Spreads
A meme dubbed "Promised 2 P.M." spreads among retail investors in South Korea, referring to KOSPI stocks wobbling around 2 p.m.
KOSPI Drops 40-100 Points Afternoon
On Nov. 11 and 12, the KOSPI fell 40 to 100 points in the afternoon session, sliding from 5,376.51 to 5,339.37 on Nov. 11 and 5,397.96 to 5,293.05 on Nov. 12.
Analysts Cite Market Factors
Institutional position adjustments, leverage, inverse ETF rebalancing, and program trading drive late-session volatility.
No Statistical Evidence
Of 58 sidecar triggers this year, only two came after 2 p.m., and just one of 11 circuit breakers was activated after that hour.
Analyst Han Ji-young's View
Han Ji-young, an analyst at Kiwoom Securities, said there's no statistical rule for stock price declines at a specific time.
“It is hard to say there is a statistical rule that stock prices fall at a particular time”
Industry Official's Perspective
Financial investment firms may put out sell orders in falling markets, but trading direction varies with market conditions.
“In a falling market, financial investment firms may put out sell orders, but the direction of trading varies with market conditions and positions by product, so it does not have a big impact on the market”
Weakened Investor Sentiment
The stock market has entered a phase where investors do not trust numbers, causing sentiment to shrink with immediate price changes.
The short version
Retail investors in South Korea spread a meme about KOSPI stock wobbles around 2 p.m., but analysts say there's no statistical rule for specific-time declines.
