A volatility index for Korean equities fell to a two-month low last week after reaching a record in June. Forced liquidations affected about 1 trillion won ($710 million) of retail accounts in June and another 993 billion won in July. Outstanding margin loans declined to 27.4 trillion won on August 4, their lowest level this year. Investors are weighing continued volatility against low valuations and a strong earnings outlook for South Korea's semiconductor companies. Related articlesSouth Korea stock volatility eases as leveraged trades unwindJPMorgan outlines ten strategic themes that could shape the outlook for 2026Goldman expects lower but still attractive stock market returns in 2026