Chaos on First Day of KRX Aftermarket Launch

This indicates high demand for after-hours trading among individual investors.

Nextrade is limited to 600 stocks, while KRX allows trading of all stocks on KOSPI and KOSDAQ, offering a wider range of stock choices. In terms of fees, Nextrade is relatively cheaper, while KRX applies the same fees as the regular trading session.

The aftermarket maintained a thin order book, leading to excessive volatility compared to the regular trading session. On the KRX Aftermarket alone, the Volatility Interruption (VI) circuit breaker was triggered 1,637 times in one day, with Daeho Special Steel experiencing 18 VI activations in just 4 hours, indicating a severe situation. Stock prices fluctuated significantly even with small trading volumes.

Additionally, complaints were raised about difficulties in completing trades due to limitations on market orders.

The 1,600 VI activations, in particular, strongly highlighted the need for system improvements. Some brokerage firms experienced system errors, affecting trading volumes and revealing shortcomings in initial operations.

This is due to the closure of a Saudi oil pipeline following an attack, raising concerns that up to 7 million barrels per day of transportation infrastructure could be halted if the pipeline remains closed. This, combined with increasing diesel demand as winter approaches, is expected to exacerbate inflationary pressures and have ripple effects on interest rates and the stock market.

Former President Trump's critical stance on AI development created instability in the market.

He dismissed it as more absurd than the Russia hoax or the global warming hoax, asserting that the only control over AI is a "smart president." He also criticized China, claiming it benefits most from the AI regulation conspiracy.

This is interpreted as being related to a strategy to solidify the position of major U.S. tech companies.

The argument for slowing down AI development is analyzed as a measure to prevent latecomers from catching up, and as having a similar effect to regulations imposed by developed countries on developing nations' progress. The prevailing view is that big tech companies intend to maintain the gap they've already established and to lower the rate of price increases amid a semiconductor supply shortage.

AI competition is seen as an unstoppable trend, as it's not just about technological development but a core aspect of gaining an advantage in the U.S.-China hegemony rivalry. Big tech companies also consider securing the number one position in AI as a paramount goal, and many believe the overnight futures market drop was excessive.

Rising oil prices are acting as a factor accelerating the transition to electric vehicles.

BYD, Geely, SAIC, Chery, Leapmotor, and Changan are major Chinese companies, followed by Tesla (3rd), Volkswagen (5th), Hyundai Motor (8th), and BMW (10th).

Rankings differed depending on whether sales of electric vehicles and PHVs (Plug-in Hybrids) were combined. Hyundai Motor was 7th when considering only EVs. Tesla was 2nd for EVs only and 3rd when combined. BYD ranked 1st when combined.

With the full-scale introduction of EREV (Extended Range Electric Vehicles) starting next year, Hyundai Motor's growth rate and market share are expected to further increase. If the U.S. EV market recovers, development and launch of mid-size SUV models are also projected to resume.

Markets in China (-14.1%) and the U.S. (-28.8%) contracted, while those in Europe (+31.7%) and Korea (+103%) grew significantly. The contraction in the U.S. market is attributed to the discontinuation of the $7,500 EV subsidy, while in the Korean market, Tesla showed strong performance, selling over 10,000 units per month.

It was explained that observing this area and finding investment points is important.

Concerns are growing in the Korean market as the share of Chinese cars is increasing. Starting in October, Zeekr, Geely Automobile's luxury brand, will begin full-scale sales, and Chinese companies like Chery are accelerating their entry into the domestic market. Hyundai Motor needs to respond to this offensive by releasing vehicles with product competitiveness at prices consumers can accept. While high-end models like Genesis face less resistance, there are complaints about prices for mass-market models.