South Korean stocks extended their decline on July 29, with retail sentiment deteriorating sharply as losses mounted. On Daum, one of the country’s main stock discussion platforms, retail investors were described as being in a state of deep panic, with posts largely focused on regret over buying the dip and criticism of weak regulation.
Yonhap News Agency separately reported that a poll released on July 27 showed President Lee Jae-myung’s approval rating had fallen for a second consecutive week, staying around 40%. Research firm Realmeter said the downward trend appeared to be continuing this week.
According to Realmeter, the pressure came from a combination of negative economic factors and public backlash over property-related issues. The firm cited the stock market crash, controversy over Bundang mortgage loan sales, remarks about stronger property taxes, and policy clashes involving leveraged ETFs and supplemental investigative authority. The developments put market stress and political pressure side by side as the sell-off continued.
South Korean stocks extended their losses on July 29, with retail investors in the country’s stock market appearing to have fallen into deep panic, according to BlockBeats.
On Daum, a major South Korean stock community, retail discussion was dominated by regret over buying the dip and criticism that regulation had not been adequate.
Yonhap News Agency also reported that polling results released on July 27 showed South Korean President Lee Jae-myung’s approval rating had declined for two straight weeks and remained around 40%.
Realmeter said: “The downward trend this week appears to be continuing, driven by negative economic factors such as the stock market crash, along with strong public opposition on real estate issues, including the controversy over Bundang mortgage loan sales and remarks about strengthening property taxes, as well as policy conflicts over leveraged ETFs and supplemental investigative authority.”
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