Market Glossary

An instruction to trade at a specified price or better. A sell limit cannot execute below the stated minimum price.

Used in High Trading Volume. Why Is It Still Hard to Sell?

An order to trade against available orders without setting a price. It may execute quickly, but the price is not guaranteed.

Used in High Trading Volume. Why Is It Still Hard to Sell?

Depositary receipts of foreign companies listed in the U.S. · local-market trading price

Used in Two Giants Barely Budged. The Forest Grew Taller. · The Forest Rises, the Giants Still Lag · The Tallest Trees Swayed the Most and 7 more

The share of listed stocks that rose that day. Because a market-cap-weighted index can be driven by a few large stocks, this ratio shows how broadly gains spread through the market.

Used in One Last Session Before the Break · An Index Held Up, Every KOSDAQ Top 10 Constituent Fell

Share of all listed stocks that rose that day · Because the index is dominated by large caps, this ratio shows how broadly a move spread through the market

Used in The Night Lifted It, the Day Gave It Back · A Narrow 7,000 · An Afternoon Wiped Away and 1 more

Trading that continues after regular market hours. As earnings are typically released post-market, the initial market reaction is captured here.

Used in The side under pressure was narrow, while the side providing support was broad. · The Bill Presented to Semiconductors

Trading outside the regular session. KRX began offering a 4:00–8:00 p.m. session on September 14, 2026.

Used in High Trading Volume. Why Is It Still Hard to Sell?

Leading U.S. semiconductor-equipment stock · major customers include Samsung Electronics, SK Hynix and TSMC · leading read on semiconductor capex

Used in The Channels Open Outward · Two Boats Afloat · Waiting for (高度) Altitude and 1 more

Trading the price difference between the same asset in two venues to earn a profit.

Used in How Does 1 Coin Become $1? · Lanterns Lit Below, All the Way to the Crest · Kites Rose Overnight. Two Flew Highest. and 14 more

A company's governing rules. Shareholder approval is needed to amend them.

Used in When Should You Buy to Receive a Dividend?

A state where futures trade at a discount to the spot price. The inverse of the normal market structure (contango).

Used in One Buyer Did the Lifting · Red Midday Two Black Buds

benchmark exchange rate posted as the volume-weighted average of interbank exchange rates

Used in Starting at Yesterday's Ceiling · The Shadow of High Rates · The Light That Fell One Step Short and 6 more

The benchmark policy interest rate set by the Bank of Korea's Monetary Policy Board and used in its operations with financial institutions.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

Futures price minus spot index. Positive indicates contango; negative indicates backwardation.

Used in An Index Held Up, Every KOSDAQ Top 10 Constituent Fell · The Bill Presented to Semiconductors · Thawing frozen sentiment, bit by bit. and 2 more

The difference between the best ask and best bid. A narrower spread generally makes trading easier.

Used in High Trading Volume. Why Is It Still Hard to Sell?

If the front-month KOSPI200 futures contract rises at least 5% for one minute, program buy quotes are suspended for five minutes

Used in Starting at Yesterday's Ceiling · Waiting for (高度) Altitude · Thawing frozen sentiment, bit by bit. and 2 more

An index created by KRX separately from industry classifications. It groups cross-industry themes such as semiconductors and secondary batteries, so it is not mixed into the same ranking table as industry indices.

Used in A Monday Farther Than Friday · Halfway Back

A system that collects orders for a set period and matches them at one price. Used at the open, at the close, and during volatility interruptions.

Used in High Trading Volume. Why Is It Still Hard to Sell? · Two Giants Buckled The Forest Followed

Cancellation permanently reduces the number of issued shares. Unlike shares held in treasury, those shares cannot be reissued.

Used in Can Share Buybacks Support the Stock Price?

A mechanism that temporarily halts marketwide trading when an index falls beyond a specified threshold.

Used in How a Selloff Feeds on Itself · A Good Company Isn’t Always a Good Stock

Leading U.S. networking-equipment stock · AI data-center connectivity gear · gauge of AI-infrastructure spending

Used in Two Boats Afloat · Waiting for (高度) Altitude · One Ship Pulled the Sea Along

The closing auction collects orders from 15:20 to 15:30 and executes them at a single price. That price becomes the official close.

Used in Good News Became a Reason to Sell · Support fades, selling broadens · Selling centered on Samsung Electronics · SK hynix and 2 more

Probability implied by CME rate futures · figures vary by data provider

Used in A Monday Farther Than Friday · The Channels Open Outward · Two Boats Afloat

CME FedWatch probabilities are derived from fed-funds futures. They reflect market pricing, not a Federal Reserve announcement.

Used in Heavier Than the Support · One Buyer Did the Lifting

Official Treasury maturity yields based on 15:30 ET quote collection · not actual transaction closes

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 2 more

Share of the absolute sum of all stock-level net selling or net buying by that investor group accounted for by its No. 1 stock · The denominator is not market-wide net selling

Used in A Narrow 7,000 · An Afternoon That Survived Quadruple Witching · The 7,000 Line Was Tougher Than It Looked and 1 more

The average of brokerage estimates. The figure varies with the data provider, the number of brokerages included, and the cutoff date.

Used in A Good Company Isn’t Always a Good Stock · The Night Opens First · Rewinding the Drop and 12 more

Consensus estimate: an aggregate forecast, usually an average, of earnings projections supplied by multiple analysts or brokerage firms.

Used in Lanterns Lit Below, All the Way to the Crest · Five Sessions, -14% Is the Bottom In?

Consumer inflation excluding volatile food and energy prices. Used to assess the underlying inflation trend.

Used in The Forest Rises, the Giants Still Lag · A Monday Farther Than Friday · Halfway Back

Inflation excluding food and energy · The measure the Fed places greater weight on for policy decisions

Used in Heavier Than the Support · The Night Opens First

Consumer Price Index, the benchmark monthly inflation measure published by the U.S. Bureau of Labor Statistics

Used in Two Boats Afloat · Waiting for (高度) Altitude · One Ship Pulled the Sea Along and 1 more

The net balance of transactions for goods, services, and primary income with foreign economies, compiled monthly by the Bank of Korea.

Used in One Sentence Split the Market · The Bill Presented to Semiconductors

The rate used to convert future earnings into present value. The higher it is, the less distant future profits are worth today.

Used in How U.S. Data Reaches Korea

An opinion or vote against the majority decision. The BOK's policy statement identifies the dissenting member and the rate they preferred.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

A chart of Monetary Policy Board members' six-month-ahead Base Rate projections. First published in February 2026, it represents conditional assessments, not policy commitments.

Used in The BOK Raised Rates. Why Did Bond Yields Fall? · Same Level, Different Market

A stance that places relatively more weight on economic growth and favors smaller rate increases, holding rates steady or easing. The opposite is hawkish.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

A company briefing after an earnings release where management discusses the outlook and answers questions from investors and analysts.

Used in A Good Company Isn’t Always a Good Stock · Full Circle, Back Where It Started · Roles Reversed

Net income divided by shares outstanding. Treasury shares are excluded from the denominator; reported EPS generally uses the weighted-average share count for the period.

Used in Can Share Buybacks Support the Stock Price?

A reported result that falls materially below market expectations. The opposite is an earnings surprise.

Used in A Good Company Isn’t Always a Good Stock

A reported result that materially exceeds market expectations. The opposite is an earnings shock.

Used in A Good Company Isn’t Always a Good Stock

Earnings per share. Net income divided by shares outstanding—the amount of net income attributable to each share.

Used in A Good Company Isn’t Always a Good Stock · The Night Opens First · Rewinding the Drop and 9 more

Total assets minus debt—the portion that actually belongs to the investor.

Used in How a Selloff Feeds on Itself

Annual management and distribution costs, accrued gradually out of fund assets.

Used in A 2× ETF isn’t really 2×

The amount of market exposure driving gains and losses. If you invest 100 and the fund has 200 of exposure, a 1% move in the underlying produces roughly a 2% move before costs and tracking differences.

Used in A 2× ETF isn’t really 2×

Market-implied policy-rate probabilities derived from fed-funds futures. They are not promises by the Federal Reserve.

Used in How U.S. Data Reaches Korea

A process in which an outcome feeds back into the cause and reinforces the same movement.

Used in How a Selloff Feeds on Itself

Final results confirmed with segment-level figures and other details.

Used in A Good Company Isn’t Always a Good Stock

Income earned from interest and dividends.

Used in When Should You Buy to Receive a Dividend?

Share of the sum of foreign net-buy stocks accounted for by the top net-buy names · KRX data

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 5 more

Federal Open Market Committee · policy-rate meeting

Used in Starting at Yesterday's Ceiling · The Shadow of High Rates · The Light That Fell One Step Short and 2 more

Broker-initiated sales of customer shares when collateral is insufficient or an unpaid stock purchase is not settled on time.

Used in Where Did the Market's Cash Go? · How a Selloff Feeds on Itself

KOSPI200 futures net-buy amount · KRX derivatives data · value basis

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 13 more

P/E calculated using forecast future earnings in the denominator.

Used in A Good Company Isn’t Always a Good Stock · Five Sessions, -14% Is the Bottom In?

KOSPI200 futures net-buy amount, KRX derivatives data; value basis

Used in One Last Session Before the Break · A Narrow 7,000 · The Rally Was Over Before the Open and 2 more

The ratio of profit after deducting the cost of goods sold from revenue. A higher value indicates a larger profit margin per unit sold.

Used in Two Giants Buckled The Forest Followed · The Forest Rises, the Giants Still Lag · The Bill Presented to Semiconductors

Management’s own outlook for future earnings or industry conditions.

Used in A Good Company Isn’t Always a Good Stock · Starting at Yesterday's Ceiling · The Shadow of High Rates and 7 more

A stance that gives relatively more weight to inflation risks and favors raising interest rates or keeping them elevated.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

High Bandwidth Memory · stacked architecture widens data pathways · used in AI servers

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 8 more

Direct buying or selling in the FX market by a government or central bank to curb sharp currency moves. U.S. participation in yen buying was the first since 1998

Used in Red Midday Two Black Buds · A Split Market

Cash remaining at brokerages for customers to trade financial products. Often called "cash on the sidelines" in Korean market coverage.

Used in Where Did the Market's Cash Go?

U.S. Department of Labor JOLTS report. The number of job openings serves as a gauge for labor market temperature.

Used in Thawing frozen sentiment, bit by bit. · Red Midday Two Black Buds

Korea FX 15:30 market average rate · prior KRW888.64

Used in Index -3.12%, advancers 64.2% · The Shadow of High Rates · The Light That Fell One Step Short and 2 more

Basic exchange rate · 15:30 fixing · Previous KRW 869.27

Used in The Night Opens First · Rewinding the Drop

Market Average Rate series · prior KRW878.36

Used in Two Wires · Starting at Yesterday's Ceiling

A futures contract based on the KOSPI 200 Index. When cash and futures move in different directions, hedging and arbitrage activity should be considered together.

Used in One Buyer Did the Lifting · Clear Skies Beyond the Index · The 7,000 Threshold

An index of 200 leading KOSPI stocks; a benchmark for futures, options, and many funds.

Used in When Cash and Futures Diverge · Lanterns Lit Below, All the Way to the Crest · Kites Rose Overnight. Two Flew Highest. and 18 more

Futures contracts based on the KOSPI 200 index · They often move before the cash market, so they are useful for identifying shifts in direction

Used in Chips Beat the Yield Drag · Full Circle, Back Where It Started · Roles Reversed and 6 more

A market where crypto can be bought and sold directly for Korean won. A real-name verified deposit/withdrawal account is required.

Used in How Does 1 Coin Become $1?

The price of the most recent trade. It may differ from the best bid—the price you can sell at right now.

Used in High Trading Volume. Why Is It Still Hard to Sell?

A structure that lets you hold assets larger than your own capital, using borrowed money or margin to control a larger position.

Used in How a Selloff Feeds on Itself

Lithium Iron Phosphate (LFP) batteries. Being cheaper and more stable than nickel-based counterparts, they are widely used in Energy Storage Systems (ESS).

Used in An Index Held Up, Every KOSDAQ Top 10 Constituent Fell · One Buyer Did the Lifting · The side under pressure was narrow, while the side providing support was broad.

The ability to buy or sell quickly without substantially moving the price. Volume alone cannot measure it.

Used in High Trading Volume. Why Is It Still Hard to Sell? · How a Selloff Feeds on Itself

China Loan Prime Rate · de facto benchmark rate published by the PBOC on the 20th of each month

Used in Starting at Yesterday's Ceiling · The Shadow of High Rates · The Light That Fell One Step Short and 1 more

A demand to cure a margin or collateral shortfall, typically by adding funds or reducing the position.

Used in How a Selloff Feeds on Itself

Money borrowed from a brokerage to buy shares. The outstanding margin-loan balance is the amount still owed, not the market value of the shares purchased.

Used in Where Did the Market's Cash Go?

A measure of how widely a move is distributed across the market, such as the number of advancing and declining stocks.

Used in How a Selloff Feeds on Itself · One Buyer Did the Lifting · Clear Skies Beyond the Index and 18 more

Share price × shares outstanding. It is the market value of the entire listed company. The larger it is, the more influence the stock has on the index.

Used in Who Moves Stock Prices?

An order intended to execute quickly at the best prices currently available rather than at a specified price.

Used in How a Selloff Feeds on Itself

Sector indexes weight stocks in proportion to market cap · larger stocks exert more influence

Used in A Monday Farther Than Friday · Halfway Back · The Night Opens First and 9 more

Materials · parts · equipment · Suppliers of materials · equipment to large semiconductor manufacturers

Used in The Night Opens First · Rewinding the Drop

Materials, Parts & Equipment · suppliers of materials and equipment to major semiconductor producers

Used in Index -3.12%, advancers 64.2% · Two Wires · Starting at Yesterday's Ceiling and 6 more

MLCC · a component that smooths current flow · used more heavily in AI servers

Used in Lanterns Lit Below, All the Way to the Crest · Selling centered on Samsung Electronics · SK hynix · The Light That Fell One Step Short and 1 more

The BOK's highest monetary-policy decision-making body. It has seven members, including the governor and senior deputy governor, and is chaired by the governor.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

The document published alongside the BOK's rate decision. It explains the rationale and outlines the intended direction of policy.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

Selling shares before borrowing or otherwise securing them. It is prohibited in Korea and can carry heavy monetary and criminal penalties.

Used in Does Short Selling Drive the Drop—or Follow It?

The per-share value of an ETF’s assets minus liabilities, usually abbreviated NAV.

Used in A 2× ETF isn’t really 2×

The value of purchases minus the value of sales. A positive figure indicates net buying; a negative figure indicates net selling.

Used in Can Share Buybacks Support the Stock Price?

A position in which the investor owes more borrowed shares than they own. The difference is the size of the net short position.

Used in Does Short Selling Drive the Drop—or Follow It?

Nextrade is a Korean alternative trading system launched in March 2025. It trades some of the same listed shares as the KRX, with sessions from 8 a.m. to 8 p.m. KST. Investor-flow totals differ depending on whether Nextrade is included.

Used in The Tide Came Back, Only a Few Big Ships Rose · Two Giants Barely Budged. The Forest Grew Taller.

Non-arbitrage program trading (e.g., index tracking)

Used in Kites Rose Overnight. Two Flew Highest. · With the Backstop Gone, Even a Breeze Can Hurt · The Tide Came Back, Only a Few Big Ships Rose and 29 more

Program trades executed across multiple stocks for index baskets, ETFs or institutional management, rather than arbitrage exploiting the futures-cash price gap

Used in An Afternoon Wiped Away · Heavier Than the Support · An Index Held Up, Every KOSDAQ Top 10 Constituent Fell and 2 more

Non-arbitrage program trading refers to basket trades executed for index, ETF, or institutional portfolio purposes rather than arbitrage on futures-cash price gaps. It is useful for reading flow in large-cap stocks.

Used in Five Sessions, -14% Is the Bottom In? · The 7,000 Line Was Tougher Than It Looked · Cruel September— Spring at Last? and 2 more

The number of stocks that rose that day. Read together with decliners, it shows how broadly gains were distributed.

Used in Who Moves Stock Prices?

The number of contracts still open and not yet closed. Changes in open interest help indicate whether positions are being added or unwound.

Used in When Cash and Futures Diverge

Operating profit as a share of revenue. It shows how much operating profit remains from every ₩100 of sales.

Used in A Good Company Isn’t Always a Good Stock

The final day to exercise KOSPI 200 options. It falls on the second Thursday of each month and can concentrate stock and futures trading.

Used in Good News Became a Reason to Sell · Support fades, selling broadens

The value of orders already contracted but not yet recognized as revenue; work expected to generate sales over future periods.

Used in Frost Falls on Yesterday's Rally · The Wind Moved Elsewhere

An order offering to buy or sell at a stated price. It has not yet been executed.

Used in High Trading Volume. Why Is It Still Hard to Sell?

The quantity of shares resting at each price level. It shrinks when orders execute or are canceled.

Used in High Trading Volume. Why Is It Still Hard to Sell?

Trading entities classified as neither retail, foreign nor institutional · Listed-company share buybacks are recorded in this category

Used in Kites Rose Overnight. Two Flew Highest. · With the Backstop Gone, Even a Breeze Can Hurt · Five Days of Whiplash. Earnings Hold the Key. and 31 more

Foreign-national investors trading outside the standard registered-foreign-investor category. KRX reports them separately from other foreign investors.

Used in Twenty Steps Down Two Steps Back Up · Two Giants Buckled The Forest Followed · The Forest Rises, the Giants Still Lag and 5 more

Foreign-national investors trading without foreign-investor registration. KRX reports them separately from the main Foreigners category.

Used in Just Above the Line · Chips Beat the Yield Drag · Full Circle, Back Where It Started and 1 more

The interest rate financial institutions pay when borrowing from one another for very short periods, usually overnight. It generally trades near the BOK Base Rate.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

Price-to-earnings ratio. Share price divided by EPS—the price the market pays for one unit of earnings.

Used in A Good Company Isn’t Always a Good Stock

An index of major U.S.-listed semiconductor companies · commonly used as an overseas benchmark for Korean chip stocks

Used in The Tide Came Back, Only a Few Big Ships Rose · Frost Falls on Yesterday's Rally · Twenty Steps Down Two Steps Back Up and 13 more

A benchmark of 30 major semiconductor companies listed in the United States, widely followed as a gauge of the chip sector.

Used in With the Backstop Gone, Even a Breeze Can Hurt · Sunlight for a Day, Wind Across the Forest

An index of 30 major U.S.-listed semiconductor companies. A key overnight reference for Korean chip stocks.

Used in Kites Rose Overnight. Two Flew Highest. · As the Frost Lifts, Two Trees Catch the Sun · One Last Session Before the Break

Inflation based on producer selling prices · released the day after CPI

Used in The Channels Open Outward · Two Boats Afloat · Waiting for (高度) Altitude and 1 more

Earnings disclosed before final results, typically covering selected items such as revenue and operating profit.

Used in A Good Company Isn’t Always a Good Stock

Preliminary quarterly earnings released before the full closing process is complete; final results are disclosed later.

Used in Good News Became a Reason to Sell · Support fades, selling broadens

How far an ETF’s market price trades above or below its net asset value (NAV).

Used in A 2× ETF isn’t really 2×

A future event or outcome that the market has already incorporated into today’s price.

Used in A Good Company Isn’t Always a Good Stock

An index measuring changes in the prices businesses receive for goods they sell. It is released ahead of CPI and can provide an earlier read on the direction of inflation.

Used in An Afternoon That Survived Quadruple Witching · The 7,000 Line Was Tougher Than It Looked

Output-price index for goods and services supplied domestically by companies · Compiled by the Bank of Korea · Feeds into consumer prices with a lag

Used in Halfway Back · Two Wires

Automated multi-stock orders · a channel through which indexes and investor flows move

Used in The Night Lifted It, the Day Gave It Back · Waiting for the Fed, A Narrow Rebound · The Wind Moved Elsewhere and 18 more

U.S. Treasury Quarterly Refunding Announcement. Total borrowing amounts and maturity composition will drive long-term yields.

Used in The Bill Presented to Semiconductors · Thawing frozen sentiment, bit by bit. · Red Midday Two Black Buds and 1 more

Listed companies that pay substantial dividends or increase payouts significantly, subject to the criteria below.

Used in When Should You Buy to Receive a Dividend?

A posted price and quantity to buy or sell. A bid is a buy quote; an ask is a sell quote.

Used in How a Selloff Feeds on Itself

Resetting exposure each day so the fund maintains its stated daily multiple.

Used in A 2× ETF isn’t really 2× · Three Days of Pressure Released All at Once · Support fades, selling broadens and 1 more

The date used to determine which shareholders are entitled to a dividend.

Used in When Should You Buy to Receive a Dividend? · A Narrow 7,000

Returning coins to the issuer and receiving cash at par.

Used in How Does 1 Coin Become $1?

The baseline price used to determine the day's permitted trading range, usually the previous close.

Used in When Should You Buy to Receive a Dividend?

The aggregate of investor- and security-level net short positions that exceed Korea’s reporting thresholds. The KRX statistic is formally called the “net short position balance.” Smaller positions below the reporting threshold are not included.

Used in Does Short Selling Drive the Drop—or Follow It?

Assets the issuer sets aside against the coins it has issued. They can include cash, bank deposits, and government securities.

Used in How Does 1 Coin Become $1?

The three investor groups KRX reports each day. “Retail” means individual investors, “foreign” means overseas capital, and “institutions” aggregate pension funds, asset managers, insurers, and others.

Used in Who Moves Stock Prices?

A brokerage service through which a securities firm lends shares to retail investors.

Used in Does Short Selling Drive the Drop—or Follow It?

A short-term transaction in which cash is lent against Treasury collateral—in effect, a short-term loan secured by government bonds.

Used in How Does 1 Coin Become $1?

Previously released statistics that are later updated using more complete data. Revisions are especially common in employment reports.

Used in How U.S. Data Reaches Korea

Moving a futures position that is nearing expiry into a later-dated contract.

Used in When Cash and Futures Diverge

Sector rotation: leadership shifts from one sector to another as earlier leaders pause.

Used in Support fades, selling broadens · Selling centered on Samsung Electronics · SK hynix

A thematic basket grouping seven large-cap semiconductor stocks, including Samsung Electronics and SK Hynix

Used in Two Wires · Starting at Yesterday's Ceiling · The Shadow of High Rates and 5 more

Given that large-cap semiconductors remain the axis of index volatility, these two stocks are placed here.

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 11 more

A U.S.-based NAND flash memory company. Spun off from Western Digital and separately listed in February 2025.

Used in The side under pressure was narrow, while the side providing support was broad. · The Bill Presented to Semiconductors

A market where users trade with one another without going through the issuer. The exchange screen is the secondary market.

Used in How Does 1 Coin Become $1?

Stock lending and borrowing transactions used mainly by institutions and foreign investors.

Used in Does Short Selling Drive the Drop—or Follow It?

If KOSDAQ 150 futures fall at least 6% from the reference price while the cash index is down at least 3% for one minute, program-trading orders are suspended for five minutes

Used in The Tallest Trees Swayed the Most · Two Wires

Number of advancing stocks divided by total stocks including unchanged and declining names · limit-up stocks are included among advancers

Used in A Monday Farther Than Friday · Halfway Back · Cruel September— Spring at Last? and 1 more

The company's official list of shareholders and their holdings.

Used in When Should You Buy to Receive a Dividend?

Distributing capital to shareholders through dividends or share repurchases and cancellations.

Used in Can Share Buybacks Support the Stock Price?

Buying back an existing short position to close it. It appears as buying in aggregate data, but it is not the same as initiating a new bullish position.

Used in When Cash and Futures Diverge

Buying back shares that were sold short in order to return them. In the market, it appears as buying demand.

Used in Does Short Selling Drive the Drop—or Follow It?

Sell borrowed shares → bet on a decline · turnover basis

Used in Same Level, Different Market · The Wind Moved Elsewhere · Halfway Back and 22 more

A move in which rising prices force short sellers to buy back shares to limit losses, and that concentrated buying amplifies the rise.

Used in Does Short Selling Drive the Drop—or Follow It?

Selling borrowed shares to profit from a decline in the share price

Used in An Afternoon That Survived Quadruple Witching · The 7,000 Threshold · One Ship Pulled the Sea Along

A mechanism that suspends program trading quotes for 5 minutes during sharp fluctuations in index futures. It is activated when the reference futures price moves by ±5% or more for 1 minute.

Used in Lanterns Lit Below, All the Way to the Crest · Kites Rose Overnight. Two Flew Highest. · Twenty Steps Down Two Steps Back Up and 3 more

Given that large-cap semiconductors remain the axis of index volatility, these two stocks are placed here.

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 11 more

The gap between the price seen when an order is placed and the actual average fill. It generally grows with order size and thinner bids.

Used in High Trading Volume. Why Is It Still Hard to Sell? · How a Selloff Feeds on Itself

Philadelphia Semiconductor Index (SOX) · key gauge of global semiconductor stocks

Used in Clear Skies Beyond the Index · The Night Opens First · Rewinding the Drop and 15 more

A digital asset designed to keep its value tied to a reference asset such as the U.S. dollar. The issuer sets aside reserve assets to support that value.

Used in How Does 1 Coin Become $1?

The base exchange rate announced daily, calculated as the weighted average of interbank transaction rates

Used in The side under pressure was narrow, while the side providing support was broad. · The Bill Presented to Semiconductors · Thawing frozen sentiment, bit by bit. and 1 more

A sale initiated by the investor according to a pre-set loss threshold.

Used in How a Selloff Feeds on Itself

Devices for data storage. SanDisk handles NAND/Flash, while Western Digital (WDC) handles Hard Disk Drives (HDD). Both are benefiting from AI data center demand.

Used in The side under pressure was narrow, while the side providing support was broad. · The Bill Presented to Semiconductors

The extra yield investors may demand for holding longer-maturity debt and bearing the risks that arise over time. Together with rate expectations, it helps determine longer-term yields.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

An industry index groups companies by primary business; a theme index groups stocks that share a specific investment theme. The same stock can belong to multiple themes.

Used in A Narrow 7,000 · An Afternoon That Survived Quadruple Witching · Cruel September— Spring at Last? and 2 more

A bond issued by the South Korean government to borrow money. The three-year Korean Treasury bond (KTB) yield is a widely followed benchmark for local market rates.

Used in The BOK Raised Rates. Why Did Bond Yields Fall?

The minimum permitted price increment. Since a 2023 rule change, it is KRW 10 for shares priced KRW 10,000–20,000 and KRW 100 for KRW 100,000–200,000.

Used in High Trading Volume. Why Is It Still Hard to Sell?

The gap between the stated target—such as 2× the daily return—and the fund’s realized performance.

Used in A 2× ETF isn’t really 2×

The total monetary value of completed trades: the sum of shares traded multiplied by their execution prices.

Used in High Trading Volume. Why Is It Still Hard to Sell?

The number of shares exchanged in completed trades. Every share sold is also a share bought.

Used in High Trading Volume. Why Is It Still Hard to Sell?

P/E calculated using already reported recent earnings in the denominator. Also called trailing P/E.

Used in A Good Company Isn’t Always a Good Stock

An index measuring the U.S. dollar against major currencies such as the euro and yen. A rise means broad dollar strength.

Used in Same Level, Different Market · Waiting for (高度) Altitude · One Ship Pulled the Sea Along and 1 more

A rule that generally requires short-sale orders to be quoted above the latest execution price. If the latest price moved up, a short sale at that price is allowed. Some transactions are exempt.

Used in Does Short Selling Drive the Drop—or Follow It?

Based on the domestic FX market daytime session (09:00–15:30) close

Used in The Night Opens First · Rewinding the Drop · Index -3.12%, advancers 64.2% and 10 more

The reference price used to calculate the value and risk of a position. Depending on the product or institution, it may be the latest trade, the close, or another specified mark.

Used in How a Selloff Feeds on Itself

The tendency for a leveraged product to lag a simple multiple when gains and losses alternate. It is also described as negative compounding.

Used in A 2× ETF isn’t really 2×

A stock-specific mechanism that switches trading to a two-minute call auction when prices move sharply. Usually abbreviated VI in Korea.

Used in High Trading Volume. Why Is It Still Hard to Sell?

Western Digital. Following the spin-off of SanDisk, it now focuses exclusively on hard disk drives (HDD), with the majority of its revenue generated from data centers.

Used in The side under pressure was narrow, while the side providing support was broad. · The Bill Presented to Semiconductors

The futures price for West Texas Intermediate crude oil. Along with Brent, it is a key global oil benchmark.

Used in Halfway Back · A Split Market

A U.S. Treasury security with a two-year maturity, especially sensitive to expectations for policy rates over the next one to two years.

Used in How U.S. Data Reaches Korea

A chart that groups each five-minute interval into one bar using open, high, low and close. Used to examine intraday price action by time of day.

Used in A Monday Farther Than Friday · An Afternoon That Survived Quadruple Witching