全球“最牛”股指亮起危险信号！韩国股市波动率飙升，投资者焦虑情绪升温

Group 1 - Increased speculation on volatility in the South Korean stock market has raised concerns about the sustainability of its strong performance this year, with the KOSPI volatility index reaching levels not seen since April during the Trump tariff crisis [1] - The KOSPI index has surged by 73% this year, aiming for its largest annual gain since 1999, outperforming all other global indices, while the KOSPI 200 index, which includes blue-chip stocks, has risen by 85% [1] - The rise in the KOSPI index is primarily driven by significant gains in semiconductor stocks like Samsung Electronics and SK Hynix, which hold a larger weight in the index [1] Group 2 - Analysts indicate that the current high levels of the KOSPI index reflect investor anxiety, with expectations for the market's continued rise appearing overly optimistic [4] - Both call and put option prices have increased, with the implied volatility for call options exceeding the one-year average, while put options remain below this level, indicating active positioning by traders [4] - Foreign investors have adjusted their portfolios in response to recent market volatility, selling approximately 1.65 trillion KRW (about 1.1 billion USD) in futures contracts linked to the KOSPI index, following its largest weekly decline since April [4]