“32万韩国股民账户被强制平仓”话题登上热搜，券商指“泡沫和杠杆问题严重”

The topic of "320,000 South Korean stock investor accounts forcibly closed" trended on social media, with securities firms pointing out "serious bubble and leverage problems."

【环球网财经综合报道】每日经济新闻报道，据韩国官方统计数据，截至7月13日，韩国7月累积强制平仓规模达到3442亿韩元（约合人民币15.7亿元），仅7月9日单日规模就高达1442亿韩元，全市场超过120万个杠杆散户账户触及保证金追缴线，其中约32万至36万个账户已经被券商全额强制平仓，部分账户甚至出现倒欠券商资金的情况。

[Global Times Finance Comprehensive Report] According to the Daily Economic News, as of July 13, South Korea's cumulative forced liquidation scale reached 344.2 billion won (approximately 1.57 billion yuan), with a single-day scale of 144.2 billion won on July 9 alone. More than 1.2 million leveraged retail accounts in the market have reached the margin recovery threshold, of which approximately 320,000 to 360,000 accounts have been fully forced to be liquidated by securities firms, and some accounts have even defaulted on funds owed to securities firms.

另据财联社报道，韩国15至64岁人口约3570万，据此估算，约每30名适龄劳动人口中就有1人收到追加保证金通知。据报道，散户经纪账户保证金余额已减少约30万亿韩元，降至今年2月20日以来的最低水平。同时，收到追加保证金通知的账户比例在上周五升至约5%左右，且随着半导体板块抛售加剧预计还将进一步上升。

According to Cailian Press, South Korea has approximately 35.7 million people aged 15 to 64. Based on this, it is estimated that about one in every 30 working-age people has received a notice of additional security deposit. According to reports, the margin balance in retail brokerage accounts has decreased by approximately 30 trillion won, falling to its lowest level since February 20 this year. Meanwhile, the proportion of accounts receiving additional margin notices rose to about 5% last Friday, and is expected to rise further as the sell-off in the semiconductor sector intensifies.

韩国金融监督院等机构的资料还显示，今年前5个月，韩国养老储蓄保险解约数量同比增长62.7%，基金赎回规模同比激增146.1%，大量原本用于养老和长期投资的资金流向股市。韩国五大商业银行上半年已消耗全年家庭贷款额度的85%以上，其中信用贷款增长的重要原因之一便是居民“借钱炒股”。

Data from the Financial Supervisory Service of Korea and other institutions also shows that in the first five months of this year, the number of pension savings insurance cancellations in South Korea increased by 62.7% year-on-year, and the scale of fund redemptions surged by 146.1% year-on-year, with a large amount of funds originally used for retirement and long-term investment flowing into the stock market. South Korea's five major commercial banks consumed more than 85% of their annual household loan quota in the first half of the year. One of the important reasons for the growth in credit loans was that residents "borrowed money to invest in stocks".

华西证券发文称，韩国市场进一步下跌，周内仍然多次出现熔断下跌。考虑到韩国市场中科技类资产存在泡沫和杠杆问题较为严重，叠加韩国实施了加息，由于短期回调幅度较大，预计韩国综合指数有时回调途中会有短期超跌反弹，但是超跌反弹之后，中期还会出现进一步的下跌，尤其半导体和人工智能相关的偏高位资产还将出现较大幅度的中期下跌，之前博弈热度较高的类似三星电子、SK海力士等个股即使未来短期出现超跌反弹，中期调整压力仍然偏大。

West China Securities issued a statement saying that the South Korean market fell further, and there were still multiple meltuses during the week. Considering that there are bubbles and leverage problems in technology assets in the South Korean market, and South Korea has implemented interest rate hikes, due to the large short-term correction, it is expected that the South Korean Composite Index will sometimes have a short-term oversold rebound on the way to the correction. However, after the oversold rebound, there will be further decline in the medium term, especially the high-level assets related to semiconductors and artificial intelligence, before the game heat higher similar Samsung Electronics, SK Hynix and other stocks even if the future short-term oversold rebound, medium-term adjustment pressure is still too large.