Right now, I'm especially wary of people using incorrect data to back up their overly confident opinions. Saw a claim that said, 'Korean stocks haven't fully deleveraged because current margin financing is at 28 trillion won, peaked at 38 trillion, and was 16 trillion at the start of the year.' Actually, all the margin financing data for Korean stocks is publicly disclosed on the Korea Financial Investment Association's FreeSIS system. You can check it here: https://freesis.kofia.or.kr/stat/FreeSIS.do?parentDivId=MSIS10000000000000&serviceId=STATSCU0100000070. It provides daily updates on the outstanding credit balance for Korean stocks, with the latest data as of August 6. According to the official data: - As of August 6, the latest outstanding credit balance for Korean stocks is 28.8 trillion won. - The highest this year was on May 29, at 38.02 trillion won. - At the start of the year, on January 2, it was 27.42 trillion won. Based on the official data, can we say deleveraging is complete? Well, Korean stocks have essentially cleared out all the additional margin financing that was built up from early January to the end of May this year. No idea where the supposed '16 trillion won at the start of the year' figure came from. For reference, on January 2, 2025, the margin financing balance for Korean stocks was 15.6 trillion won.