News

BlockBeats News, June 16th, ZeroHedge reported that Goldman Sachs has advised clients to hedge against a potential pullback in the KOSPI, while South Korean banks have taken measures to restrict credit loans and overdrafts to curb debt-driven stock market frenzy. The report emphasizes that under regulatory guidance, to cool down the overheated stock market, major South Korean banks (such as Hana Bank, KB Kookmin Bank, Shinhan Bank, etc.) have significantly limited credit loans and overdraft limits. For example, Hana Bank has set the new credit loan limit for high-income individuals at 100 million Korean won (approximately $65,881), with an overdraft limit of 500 million Korean won; similar restrictions have been implemented by KB Kookmin Bank starting from June 16th. These measures are aimed at addressing "debt-driven investment" (using borrowed money to speculate in stocks), as banks had previously restricted mortgage loans due to rising house prices. The surge in household loans in May is mainly related to stock market investments. Therefore, Goldman Sachs has urged clients to prepare for a potential KOSPI pullback, reflecting a cautious stance towards the current market frenzy, despite Goldman Sachs having raised the KOSPI target price multiple times before.

Bank of Japan Interest Rate Decision: Will Stop Conducting Medium-Term Assessments of the Bond Reduction Program

According to a report from Golden Ten Data, following the release of the Bank of Japan's interest rate decision, USD/JPY rose by 10 points in a short period, quoted at 160.22.