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Businessยท4d agoAI summary
South Korean Stocks Selloff Due to Portfolio Rebalancing, Not Loss of Confidence: KRX CEO
Korea Exchange CEO Jeong Eun-bo told CNBC that the selloff in South Korean stocks is due to inevitable portfolio rebalancing by foreign investors after massive gains, not a loss of confidence. He noted the Kospi's significant growth in 2025 and early this year, leading to increased market weight in global portfolios. Circuit breakers were activated as the Kospi fell over 13% in six sessions. Jeong expects the rebalancing pressure to ease, with authorities conducting smoothing operations on the won, which hit a 17-year low against the dollar.
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CNBC World
