Key Highlights
- Seohak ants actively bought U.S. technology and coin stocks during the Chuseok holiday.
- The U.S. stock market and virtual asset market collapsed due to President Trump’s concerns about a trade war with China.
- Mainly technology and coin stocks were purchased, with most of them falling in value after the 10th.
- Investors net purchased $1.388.67 billion in U.S. stocks from September 25 to October 9.
The Impact of Chuseok Holiday on Global Markets
During the Chuseok holiday, when the domestic stock market was closed, Seohak ants showed significant interest in foreign markets, particularly in U.S. technology stocks and coin-related leveraged exchange-traded funds (ETFs). This behavior reflects the continuous engagement of investors even during traditional holidays.
President Trump’s Comments Trigger Market Volatility
The catalyst for this market movement was President Donald Trump’s remarks on social media, expressing concerns about a potential resumption of the U.S.-China trade war. These comments triggered a significant drop in both U.S. and virtual asset markets.
According to Yonhap News Agency, the U.S. stock market experienced a notable decline on October 10th, with Tesla’s product TSLL, which tracks twice its fluctuation rate, plummeting by 10.24%. This drop was exacerbated as President Trump posted on Truth Social, threatening additional tariffs and export controls against China.
Investor Behavior and Market Response
In the six trading days from September 25 to October 9, domestic investors net purchased U.S. stocks for a total of $1.388.67 billion. The main focus was on technology and coin-related stocks, with TSLL ($167.48 million) being the top net purchase among overseas stocks.
However, the market reaction was swift and negative. Over 90% of the top 10 net buying stocks fell in value during this period.
Notable drops included artificial intelligence (AI) and virtual assets-related companies such as Tesla (-5.06%), Meta (-3.85%), Palantir (-5.41%), Nvidia (-4.89%), and coin stock BMNU, which followed twice the fluctuation rate of BitMine (-21.84%).
Conversely, some stocks showed resilience or growth during this period, such as IONZ (17.18%) and Fermi (8.63%). These gains were attributed to their association with quantum computing and AI infrastructure.
Expert Analysis and Future Implications
Financial experts suggest that such market volatility can be unpredictable but generally indicates a high level of investor engagement, even during holidays. The impact of President Trump’s statements highlights the sensitivity of global markets to geopolitical tensions.
“The events of this Chuseok holiday underscore how quickly market sentiment can change,” said Lee Jin-wook, an economist at Hyundai Securities. “Investors need to stay vigilant and informed about both domestic and international developments.”
Looking ahead, experts predict that continued trade negotiations between the U.S. and China could significantly influence global financial markets. Investors are advised to maintain a diversified portfolio and be prepared for potential fluctuations.
Conclusion
The Chuseok holiday period saw significant investor activity in foreign markets, with a particular focus on technology and coin stocks. The market’s response to President Trump’s comments about the U.S.-China trade war highlights the ongoing interconnectedness of global financial systems. As geopolitical tensions remain high, investors should prepare for continued volatility.
