Odaily Planet Daily News: Dovey Wan, founding partner of Primitive Ventures, posted on X that, from the "Kimchi premium" in each crypto cycle to the current "memory stocks," South Korea may be one of the clearest late-cycle indicators among global risk assets. This is not only because South Korean retail investors are extremely狂热投机者 (degens), but also because the market structure itself is further fueling retail frenzy.

On May 27, South Korea launched leveraged products for single stocks, at a time when the price increase of these assets was already nearly vertical. Local South Korean retail investors rushed in at the peak of narrative heat. In comparison, investors in Hong Kong-listed leveraged products had several months of upward rally as a buffer before entering.

When a fund and overpopulated domestic stock market, already in a reflexive surge phase, adds leverage tools to its hottest stocks, the very introduction of such products constitutes the formation of a topping signal.

This happens every time in the cryptocurrency cycle — local South Korean exchanges typically list assets only after they have experienced parabolic surges on other global exchanges, leaving poor South Korean retail investors to serve as the final exit liquidity.

Odaily Odaily reports that on-chain analyst Ai Yi posted on platform X, stating that the US AI semiconductor sector has fallen again. The Philadelphia Semiconductor Index dropped 4.3% in a single day, accumulating a correction of over 22% from its mid-June high and entering a technical bear market. The long-biased investor "Caveman" asssdfc, who held a basket of tech and semiconductor stocks, has liquidated their positions this morning, with the account experiencing overall floating losses exceeding $10.4 million over the past 30 days.

According to Gate market data, the South Korean stock market was closed for Constitution Day, but SK Hynix and Samsung Electronics-related assets continued to face selling pressure in other markets. After the Hong Kong stock market opened, the CSOP 2x Long Hynix fell 17.8%, and the CSOP 2x Long Samsung fell 14.7%.

Meanwhile, according to BIT market data, SK Hynix ADR plummeted 13.69% at the close of the U.S. stock market, and has since risen approximately 1% in after-hours trading.

Odaily Odaily reports that according to Gate行情 data, Japanese memory stock Kioxia hit its daily limit down during the session, currently down 15.55%, with its market cap nearly halved from its June peak; the Nikkei 225 index also expanded its intraday decline to over 4%.

Based on MSX.COM data, US-listed memory concept stocks SanDisk and Western Digital continued their decline in after-hours trading, falling over 4%, while Micron Technology dropped nearly 4%.

According to data from MSX.COM, the decline in the US stock storage sector persists, with SanDisk's drop widening to 10.07%, bringing its total market capitalization to $215.1 billion. Western Digital (WDC.O) fell nearly 9%, SK Hynix ADR (SKHY.O) dropped 8.6%, and Micron Technology (MU.O) fell over 5%.

According to MSX.COM data, the US-listed memory chip sector continues to adjust. As of press time, Micron Technology fell 5.48%, Western Digital fell 8.03%, Seagate Technology fell 8.02%, SanDisk fell 9.70%, Kioxia ADR fell 11.28%, and SK Hynix fell 8.46%. Calculations show that multiple memory chip stocks have seen their correction range exceed 40% this round, with Western Digital correcting 41%, SK Hynix correcting 38.3%, and Kioxia ADR correcting 47.9%.

According to data from MSX.COM, the US-listed optical communications sector opened lower and extended its decline, with Corning falling over 8%, Marvell Technology dropping over 6%, and Lumentum, Coherent, and Credo declining over 5%.

According to MSX.COM data, the decline in the US memory chip sector has widened. SanDisk's drop expanded to 8%, SK Hynix ADR fell 7.8%, Seagate Technology and Western Digital dropped approximately 7%, and Micron Technology fell over 4%.

The Philadelphia Semiconductor Index dropped 3% to 12,023.76 points. Nvidia's stock price fell 2.15%, TSMC's stock price fell 2.73%, Broadcom's stock price fell 3.6%, Micron Technology's stock price fell 3.84%, Advanced Micro Devices' stock price fell 3.76%, ASML's stock price rose 0.11%, Intel's stock price fell 3.68%, Lam Research's stock price fell 2.92%, and ARM's stock price fell 6.6%.

According to data from MSX.COM, the U.S. stock memory sector is among the worst performers. SK Hynix shares fell 6.58%, Micron Technology shares dropped 3.16%, and SanDisk shares declined 4.27%. Among other notable stocks, Nvidia shares fell 1.27%, TSMC shares dropped 2.97%, AMD shares declined 3.04%, Intel shares fell 1.53%, Lam Research shares dropped 2.25%, and ARM shares fell 4.83%. UnitedHealth Group surged 8% after significantly raising its full-year guidance, with better-than-expected earnings sounding the horn for a recovery.