BlockBeats News, July 29, Wednesday local time, after the South Korean stock market experienced two consecutive days of circuit breakers, Finance Minister Hong Nam-ki faced a lawmaker's apology request and expressed regret for launching a single-stock leveraged ETF without careful consideration.

Earlier, after the South Korean KOSPI index fell over 6% in the morning trading session, Hong Nam-ki stated during a parliamentary speech that the government is internally studying market stability measures, and it is possible to further adjust the regulations related to single-stock leveraged ETFs to address market volatility.

The South Korean KOSPI index experienced a turbulent day on Wednesday, plummeting by as much as 12% intraday, before gradually narrowing to about 6%; heavyweight stock SK Hynix hit a record single-day decline of 17% post-earnings, with the current decline narrowing to around 8%. (FX Street)