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Korea Stock Rout Deepens as Upbit Volume Surges 1,426% South Korea’s KOSPI extended its sharp selloff on July 14, falling 4% intraday to 6,…

Korea Stock Rout Deepens as Upbit Volume Surges 1,426% South Korea’s KOSPI extended its sharp selloff on July 14, falling 4% intraday to 6,534.34, with SK Hynix down more than 7%. At the same time, Upbit, South Korea’s largest crypto exchange, saw its 24-hour trading volume rise to USD 4.27 billion, up 1,426.2% from the previous day, according to CoinGecko. The Korea Economic Daily reported that forced liquidations triggered by unsettled stock trades reached KRW 425.8 billion, or about USD 286 million, from July 1 to July 10, including KRW 142.2 billion on July 9 and another KRW 81.6 billion on July 10.
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