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Finance

Korean stock volatility drives retail investors back to U.S. markets

Repeated sharp swings in South Korea\'s stock market are pushing retail money back into U.S. equities. Credit-financed stock balances and unsettled trading receivables have fallen, while investor deposits remain above 100 trillion won. Retail investors turned from heavy buying of SK Hynix and Samsung Electronics to net selling in late July. Net buying of U.S. shares surged, led by the 3-times leveraged semiconductor ETF SOXL. A lower won-dollar exchange rate also reduced costs.

Finance

ETF net assets fall nearly 57 trillion won as stocks slump; single-stock leverage swings

South Korea\'s total ETF net assets fell by nearly 57 trillion won after the domestic stock market slumped following the listing of single-stock leveraged ETFs tied to Samsung Electronics and SK Hynix. Net assets of the 16 related leveraged and inverse products rose from about 4.4 trillion won on launch day to 17.6 trillion won before falling to about 9.92 trillion won. Financial authorities tightened rules, while investors increased net purchases of U.S. stocks.

Fintech

HSBC enters UK digital securities sandbox after Bank of England approval

HSBC has received Bank of England approval to operate its digital asset platform, HSBC Orion, in the UK Digital Securities Sandbox. According to Cointelegraph, the platform supports the issuance, post-trade servicing and settlement of digital securities. HSBC Orion will operate as a digital securities depository within the sandbox. The platform supports bonds issued directly in digital form, including the planned UK digital gilt instrument and corporate bonds.