South Korea's KOSPI Index Falls Nearly 10% After Leveraged ETF Warning

The KOSPI index has dropped more than 5% in the last 24 hours and has lost approximately 10% in total following a leveraged ETF warning. Although the RSI stands at 32, it has not yet entered oversold territory, suggesting the decline may continue. The MACD is well below the signal line and in negative territory, confirming weak momentum. The price is trading below both the 20-day and 50-day moving averages, further weakening the short-term outlook. While a near-term recovery is unlikely, a technical correction could occur if the index approaches oversold levels.

GOOGL shares fell 6.1% in the last close, with the RSI declining to 35, approaching oversold territory. The MACD line is below the signal line and in negative territory, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages, painting a negative technical outlook. The sharp decline in the South Korean market, as highlighted in the news headline, could negatively impact global risk appetite, putting additional pressure on GOOGL. However, while the RSI nearing oversold territory increases the possibility of a short-term bounce, the overall trend remains downward.