From July 1 to 16, foreign investors net sold $8.1 billion of South Korean stocks as the KOSPI fell 19.6%. Over the same period, they net bought $399 million in South Korea-listed equity ETFs, concentrating on leveraged and inverse products tied to the KOSPI 200 as well as semiconductor-themed ETFs. Samsung Electronics leveraged ETFs saw net inflows, while SK Hynix leveraged ETFs posted sizable net outflows. The positioning has been interpreted as volatility-hedging rebalancing rather than a one-way bearish bet.

SpaceX’s $1.8 trillion post-IPO valuation is colliding with heavy losses across its AI and space businesses, including a $4.937 billion net loss in 2025 and a cash burn pace of about $30 billion a year in its AI & Social Media unit. Investors have pushed the company’s $25 billion bond issuance into junk-level yields, underscoring concerns about credit risk. Starlink remains profitable, but its ARPU has dropped by one-third, limiting its ability to bankroll the two loss-making divisions. The situation is intensifying broader unease over whether richly valued technology stocks can sustain their growth narratives.