"headlines point lower with MSCI keeping Korea off the DM watchlist, sentiment weaker in the overall AI trade, impending tightening of bank lending standards to retail investors, and the ongoing overhang of mechanical selling from both foreigners and domestic pensions"

“Some of the recent performance in stocks has been highly speculative, fueled by a passion from retail investors for short-term gains. We may not like it this morning, but…

...reinforces the market’s growing awareness that some of the recent upside was not purely discretionary fundamental buying, but was also being amplified by product structure and…