韩国股市周二呈现W型波动并收红，其中KOSPI指数收涨1.62%至6358.95点[1]，KOSDAQ指数涨幅更大，上升5.88%并触发熔断机制[1]。这已是KOSDAQ连续第三个交易日触发熔断，而年内该指数已累计触发熔断30次，其中17次由买方触发，13次由卖方触发[1]。
为稳定市场，韩国财政部长具润哲表态"将努力缓解韩国股市的波动"[1]，并推进限制单股杠杆ETF使用的措施。根据政策安排，单股杠杆产品倍数可在紧急授权下从2倍降至1.5倍甚至1倍[1]。韩国规模最大的单一股票杠杆ETF周一成交量已降至5900万份，创下6月4日以来最低水平[1]。
本轮反弹得到通胀降温的支持。7月CPI同比涨幅从6月的3.2%降至2.8%，核心CPI同比上涨2.6%[1]；7月韩国汽油、柴油环比分别下跌6.2%、6.7%[1]。然而，分析师认为此次反弹空间有限，8月份股市将继续探底并巩固[1]。
South Korea's equity markets rebounded sharply on Tuesday, with the KOSPI index closing up 1.62% at 6,358.95 points, while the KOSDAQ index surged 5.88% and triggered its circuit breaker for the third consecutive trading day [1]. The broader recovery was supported by easing inflation pressures and reduced geopolitical tensions, though analysts cautioned that gains may prove limited in scope [1].
The finance ministry moved to address persistent market volatility through tighter leverage controls. Finance Minister Koo Yun-cheol stated that authorities would "make efforts to ease volatility in the South Korean stock market," with plans to restrict the use of single-stock leveraged ETFs [1]. Under emergency authorization powers, leverage multiples on such products could be reduced from 2x to 1.5x or even 1x [1]. Trading activity in South Korea's largest single-stock leveraged ETF fell to 59 million shares on Monday, marking its lowest level since June 4 [1].
Deflationary momentum strengthened the case for market stabilization measures. July's consumer price index rose 2.8% year-on-year, down from 3.2% in June, while core inflation held at 2.6%, and gasoline and diesel prices fell 6.2% and 6.7% month-on-month, respectively [1]. Year-to-date, KOSDAQ has triggered circuit breakers 30 times, with buy-side and sell-side breakers accounting for 17 and 13 occurrences respectively [1].
